QUESTION IMAGE
Question
- atm a. interest rate adjusted for inflation
- cash advance b. a machine that lets you do bank transactions like depositing, withdrawing cash, and paying bills.
- check c. money is worth more now than in the future due to its earning potential.
- checking account d. identifies the bank on a check.
- commercial bank e. a member - owned financial institution providing similar services as a bank.
- credit union f. taking money out of a bank account.
- deposit g. prices of goods and services going up over time.
- depository institution h. advertised interest rate for a loan, without considering inflation or fees.
- inflation i. putting money into a bank account.
- nominal interest rate j. a bank operating only on the internet, without physical branches.
- online bank k. a written order to a bank to pay someone a certain amount from your account.
- overdraft l. a bank offering basic financial services to individuals and businesses.
- payday lender m. when theres not enough money in your account, but the bank lets a transaction go through.
- real interest rate n. an interest - bearing account for saving money.
- routing number o. offers short - term, high - interest loans based on income, to be repaid with the next paycheck.
- rule of 72 p. banks or credit unions offering financial services.
- savings account q. estimates how long it takes for an investment to double in value.
- time value of money r. a bank account for writing checks and making withdrawals and deposits.
- withdrawal s. a short - term loan allowing you to take out cash, often with high fees.
Brief Explanations
- ATM is a machine for bank - related transactions like depositing, withdrawing cash and paying bills, so it matches b.
- Cash advance is a short - term loan to take out cash, often with high fees, so it matches s.
- A check is a written order to a bank to pay someone from your account, so it matches k.
- A checking account is for writing checks and making withdrawals and deposits, so it matches r.
- A commercial bank offers basic financial services to individuals and businesses, so it matches l.
- A credit union is a member - owned financial institution, so it matches d.
- Deposit means putting money into a bank account, so it matches i.
- A depository institution is a bank or credit union offering financial services, so it matches p.
- Inflation is when prices of goods and services go up over time, so it matches g.
- Nominal interest rate is the advertised interest rate without considering inflation or fees, so it matches h.
- An online bank operates only on the internet without physical branches, so it matches j.
- Overdraft occurs when there's not enough money in your account but the bank lets a transaction go through, so it matches m.
- A payday lender offers short - term, high - interest loans based on income to be repaid with the next paycheck, so it matches o.
- Real interest rate is the interest rate adjusted for inflation, so it matches a.
- A routing number identifies the bank on a check, so it matches c.
- The Rule of 72 estimates how long it takes for an investment to double in value, so it matches q.
- A savings account is an interest - bearing account for saving money, so it matches n.
- The time value of money means money is worth more now than in the future due to its earning potential, so it matches c.
- Withdrawal is taking money out of a bank account, so it matches f.
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