Accounts
What account is the most liquid?
Checking
The most liquid form of money
Use simple interest to find how much interest you would receive in 6 months if you deposit $3,500 into an account with a 1.9% annual interest rate
$33.25
Your beginning balance is $150 with a 6% interest rate. How much is in your account after Quarter 3 of Year 1?
$156.85
What is it called when you take money out of an account?
Withdrawl
What account is the second most liquid but can collect interest?
Savings
A way to pay someone from your checking account instantly
Debit Card
Use simple interest to find how much interest you would receive in 18 months if you deposit $6,400 into an account with a 1.6% annual interest rate
$153.60
Your beginning balance is $150 with a 6% interest rate. How much is in your account at the end of Year 1?
$159.20
What is it called when you put money into an account?
Deposit
CD
A way to pay someone from your checking account using paper
Checks
Use simple interest to find how much interest you would receive in nine months if you deposit $225 into an account with a 1.6% annual interest rate
$2.70
Your beginning balance is $150 with a 6% interest rate. How much is in your account after Quarter 2 of Year 2?
$164.01
What is it called when you sign the back of a check written to you?
What is a retirement account that you set up called?
An IRA
A check guaranteed by the bank, often used in real estate transactions
Cashier's Check
Use simple interest to find how much interest you would receive in ten months if you deposit $3,500 into an account with a 4.89% annual interest rate
$142.63
Your beginning balance is $150 with a 6% interest rate. How much is in your account after Quarter 4 of Year 2?
$168.97
The name of the machine you can get cash from an account if you have your debit card with you?
ATM
What are accounts where you lend the government money for a set period of time in exchange for interest?
U.S. Savings Bond
will also accept savings bond or bond
A pre-fixed amount that can be used in other countries
Traveler's Check
Use simple interest to find how much interest you would receive in twenty-seven months if you deposit $26,500 into an account with a 3.24% annual interest rate
$1,931.85
Your beginning balance is $150 with a 6% interest rate. How much is in your account after Quarter 1 of Year 3?
$172.50
What is it called when you spend more than what's in your account?
Overdraft