Calculate simple interest on a $1000 loan with annual interest of 4% for 5 years.
What is "$200?"
100
One role of the ____________ _____________ is to keep the U.S. financial system stable.
What is "Federal Reserve?"
100
To use a debit card, you need a password, also called a(n) _ _ _ or ____________ ___________ __________.
What is "PIN" or "personal identification number?"
100
The FDIC insures checking accounts up to $___________ per person (depositor).
What is "$100,000?"
100
If you have a CD (certificate of deposit) and you withdraw your money before the maturity date, you may have to pay a(n) ___________.
What is "penalty?"
200
An account that you can withdraw money from at any time BUT may have a charge for each check written is a(n) ______________ account.
What is "checking?"
200
If you go to treasurydirect.gov you may purchase U.S. ____________ ___________.
What is "treasury or savings bonds?"
200
ATM stands for ___________ ____________ __________ and ATM cards can be used for withdrawing money from a checking account.
What is "Automatic Teller Machine?"
200
The person who is being paid with a check is called the ______________.
What is "payee?"
200
___________ ___________ accounts pay the market rate of interest on the money deposited.
What is "money market?"
300
Some people believe that if they get ___________ loans, it is a good way to manage money and start using credit, but it really isn't.
What is "payday?"
300
A tool used to keep track of all checking account transactions is called a(n) ____________ ____________.
What is "checkbook register?"
300
A card that has an imbedded integrated circuit and carries an electronic balance is called a(n) ____________ card.
What is "smart?"
300
A check issued against bank funds is a(n) _____________ ______________
What is "cashier's check?"
300
___________ ___________ earn a guaranteed rate of interest only for a certain period of time, not forever.
What is "Savings bonds?"
400
A type of demand deposit that may have some restrictions on how quickly or easily the money can be withdrawn is a(n) ____________ account.
What is "savings?"
400
When the government makes a bank keep a certain amount of money on hand, this is called a(n) _____________ requirement.
What is "reserve?"
400
If you have your bank pay your cable bill every month at the same time for the same amount out of your checking account, it is called a(n) _____________ _____________.
What is "automatic withdrawal?"
400
Each person who is authorized to write checks on a checking account must complete a(n) ______________ card.
What is "signature?"
400
Money deposited into a(n) ___ ___ ___ or ______________ ______________ ______________ may be tax-deductible.
What is "IRA" or "Individual Retirement Account?"
500
Calculate the amount of principal AND interest you will have on a deposit of $1,000 at 5% interest for 3 years when interest is compounded annually.
What is "$1,157.63?"
500
Calculate annual compounded interest on a loan of $10,000 at 3% interest for 4 years.
What is "$1,255.09?"
500
If you deposit $500 for 6 months at an annual interest rate of 7%, how much interest will you earn?
What is "$17.50?"
500
In order to balance your checkbook, you have to __________ outstanding deposits and ___________ outstanding checks or cash transactions from the bank statement balance.
What is "add" and "subtract."
500
Using the rule of 72, calculate the number of years it will take your money to double if you invest $500 at 9% interest.