| A | B |
|---|
| Interest Rate | a percent that is paid on money in a bank account or money owed |
| Loan | borrowed money |
| Balance | the total amount of money you have in your account |
| Check | a hand-written document used to pay for purchases using funds in a personal checking account |
| Passbook | a small book that shows the amount of money deposited in the savings account and withdrawn |
| Deposit Slip | a form you fill out when you put money into your account |
| Deposit | put money into an account |
| Signature | the way you sign your name on important papers |
| Compound Interest | interest that is paid on the principal and the interest compounded monthly or daily (MONEY GROWS FAST) |
| Savings Account | A deposit account at a bank which pays interest, but cannot be withdrawn by check writing |
| Endorse | to write one's signature on the back of a check, which will transfer money |
| Simple Interest | interest paid on the principal amount. Not Compounded. (MONEY GROWS SLOW.) |
| Checking Account | an account where paper checks or debit cards are used to withdraw money deposited into the account to pay for items |
| Check Register | a personal record of your checking accounts transactions (activities). |
| Principal | The amount you deposited in a savings account. |
| Credit Union | A nonprofit financial institution owned by members |
| Payday Loan Company | Evil company that charges VERY high interest rates |
| Savings & Loan | An institution that provides loans and mortgages to its customers |
| Insuffiicient Funds | not enough money in your checking account to cover checks you wrote |
| Commercial Bank | Full service financial institution that provides a variety of services |
| Debit Card | a bank card that allows you to usr it like a check or at an ATM |
