Unit 2

Question 1

Checking account

Answer 1

An account that you open at a bank that you can access multiple times a day if needed.

Question 2

Savings account

Answer 2

An account that you ass money to frequently but only take out money.

Question 3

Balance

Answer 3

The amount of money in an account at any given time

Question 4

Credit card

Answer 4

A card that use to borrow money BUT you must pay it back or get charged interest on top of what you borrowed

Question 5

Debit card

Answer 5

A card that you use to purchase things, and the amount comes directly out of your checking account.

Question 6

Deposit

Answer 6

An amount of money that you ADD to an account

Question 7

Direct deposit

Answer 7

Getting paid by your employer depositing money DIRECTLY into your checking account.

Question 8

Withdrawal

Answer 8

TAKING OUT money from an account.

Question 9

Loan

Answer 9

An account of money that you owe a person or business and will possibly be charged interest

Question 10

Earnings

Answer 10

Income derived from an investment or product.

Question 11

Interest

Answer 11

A PERCENTAGE of the balance that is in addition to the balance.

Question 12

Fee

Answer 12

Is a set of account of money that you must pay

Question 13

Transaction

Answer 13

A deposit or withdrawal from an account

Question 14

Identity theft

Answer 14

When a person uses someone else’s identify (SSN - Social Security Number to purchase items or open accounts

Question 15

Debt

Answer 15

To OWE someone or something an account of money

Question 16

Transfer

Answer 16

Moving money from one account to another account.

Question 17

Compound Interest

Answer 17

The addition of interest to the principal sum of a loan or deposit

Question 18

Charge

Answer 18

Demand (an amount) as a price from someone for a service rendered or goods supplied.

Question 19

Personal check

Answer 19

Is paper from of payment that is from your checking account

Question 20

Penalty

Answer 20

An additional amount of money that you must pay for a negative transaction

Question 21

Budget

Answer 21

Setting aside a certain amount of money for a certain item or event

Question 22

Total

Answer 22

adding or subtracting ALL of the amount of money

Question 23

Value

Answer 23

An amount of that something is worth

Question 24

Income

Answer 24

An amount of money that you have earn for service

Question 25

Gross income

Answer 25

The amount of money you earn BEFORE expenses are taken out

Question 26

Net income

Answer 26

The amount of money you earn AFTER expenses are taken out

Question 27

Sales tax

Answer 27

Is a percentage (%) of money you must pay on top of the cost of an item

Question 28

Deduction

Answer 28

The action of deducting or subtracting something.

Question 29

Coupon

Answer 29

Gives you a discount on a specific item(s)

Question 30

Discount

Answer 30

An amount (percentage%) of a group of items

Question 31

Price

Answer 31

The amount of money expected, required, or given in payment for something.

Question 32

Price range

Answer 32

The highest and lowest prices recorded within a given time on a market.

Question 33

Unit price

Answer 33

how much each item in the package

Question 34

Sale

Answer 34

Is a discount taken off of item through out the store or business

Question 35

Credit score

Answer 35

A number assigned to a person that indicates to lenders their capacity to repay a loan.