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Financial Literacy

Mrs. Froneberger

1bank reconciliation  _____An instruction to the bank to not honor a check
2debit card  _____ Interest computed on principal once during a certain time
3checkbook register  _____The process of adjusting checkbook and bank balances so that they agree
4checking account  _____Interest earned on both principal and previously earned interest
5deposit _____A quick formula for computing how long it will take to double money invested at a given interest rate
6check  _____The use of a computer-based system to move funds from the drawerÕs account to the payeeÕs account
7endorsement _____Money added to a checking account
8electronic transfer _____A card used to withdraw or deduct money from your checking account
9simple interest _____A secure container located in a bank vault
10maturity value _____A bondÕs future value as stated on its face
11certificate of deposit _____A demand deposit account on which checks are drawn
12compound interest _____A sum of money set aside on which interest is paid
13savings account _____A demand deposit account designed for the accumulation of money in a safe place for future use
14principal _____A check issued against the bankÕs funds
15annuity _____A written order to a bank to pay a stated amount to a person
16Rule of 72 _____ A written order instructing a bank to pay upon its presentation to the person designated in it, or to the person possessing it, a certain sum of money from the account of the person who draws it.
17Money order _____A time deposit that pays a fixed rate of interest for a specified length of time
18Overdraft protection _____A fixed amount set aside a regular basis over time
19Safe deposit box _____Accessing and managing your account online
20Internet banking _____A bank service to temporarily cover a shortage in your account
21Stop payment _____A type of check used to pay bills or make payments for which the money is guaranteed
22Cashier check _____A tool used to track checking account transactions

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