All About the Money
Compounded Semi-Annually...
2
Compounded Annually...
1
Compounded Weekly...
52
Compounded Monthly...
12
Compounded Quarterly...
4
A machine used to withdraw or deposit money from your account
ATM
Understands how to spend wisely and make informed choices.
Savvy Consumer
Checking Account
When employees receive a portion of the company's profits.
Profit Sharing
Money placed into a bank account
Deposit
The bank charges you this when you withdraw more money than you have in your account.
Overdraft Fee
Designed to hold money and earn interest over time.
Savings Account
Money returned to the buyer after a purchase
What does ATM stand for?
Automated Teller Machine
A person who receives a payment
Payee
A person who writes or gives the payment
Payer
Interest calculated only on the principal
Simple Interest
Interest calculated on the principal and on the accumulated interest.
Compound Interest
This is used to measure changes in the cost of goods/services over time.
CPI - Consumer Price Index
This is the increase of prices over time, reducing purchasing power.
Inflation
A type of savings account that locks money for a set time with higher interest.
CD - Certificate of Deposit
A unique number identifying your personal bank account.
Account Number
The number used to identify which bank(s) are involved in a specific transaction(s).
Routing Number