vocabulary
fill in the missing word(s) in the space provided at the right.
example: needs you expect to have in the next few months or years
are said to be ______. 0. ______short - term______
1. ______ involves an employer or financial institution electronically depositing your paycheck into a bank account. 1. ______
2. a form of educational funding that does not have to be repaid, is often funded by the government, and is in addition to scholarships and loans, is called a(n) ______. 2. ______
3. interest drawn on the sum of the original principal plus interest is called ______ interest. 3. ______
4. money that is paid for the use of money is called ______. 4. ______
5. a regular account at a credit union is called a(n) ______ account. 5. ______
6. ______ occurs when student loans are combined into one large loan. 6. ______
7. deposits kept in credit unions are insured by the ______. 7. ______
8. federal insurance for depositors in commercial banks and savings and loans is provided by the ______. 8. ______
9. the greater the ______ you are willing to take, the higher the rate of interest you will receive. 9. ______
10. a deposit that is set aside for a specified length of time at a specified rate is called a(n) ______. 10. ______
11. a type of savings plan that offers a more competitive interest rate than a regular savings account is called a(n) ______. 11. ______
12. the capability of financial resources being readily converted to cash is called ______. 12. ______
13. the amount of money you place in savings is called ______. 13. ______
14. money borrowed for education, called ______, can be subsidized or unsubsidized. 14. ______
15. the day on which a certificate must be renewed or cashed in is called the ______. 15. ______
16. when a cd is cashed before its maturity date, the depositor must pay a(n) ______ penalty. 16. ______

Question

vocabulary
fill in the missing word(s) in the space provided at the right.
example: needs you expect to have in the next few months or years
are said to be ______.								0. ______short - term______
1. ______ involves an employer or financial institution electronically	depositing your paycheck into a bank account.			1. ______
2. a form of educational funding that does not have to be repaid, is often	funded by the government, and is in addition to scholarships and loans,	is called a(n) ______.						2. ______
3. interest drawn on the sum of the original principal plus interest is	called ______ interest.						3. ______
4. money that is paid for the use of money is called ______.				4. ______
5. a regular account at a credit union is called a(n) ______ account.			5. ______
6. ______ occurs when student loans are combined into one large loan.		6. ______
7. deposits kept in credit unions are insured by the ______.				7. ______
8. federal insurance for depositors in commercial banks and savings and	loans is provided by the ______.				8. ______
9. the greater the ______ you are willing to take, the higher the rate of	interest you will receive.					9. ______
10. a deposit that is set aside for a specified length of time at a specified	rate is called a(n) ______.					10. ______
11. a type of savings plan that offers a more competitive interest rate than	a regular savings account is called a(n) ______.			11. ______
12. the capability of financial resources being readily converted to cash	is called ______.						12. ______
13. the amount of money you place in savings is called ______.				13. ______
14. money borrowed for education, called ______, can be subsidized or	unsubsidized.						14. ______
15. the day on which a certificate must be renewed or cashed in is	called the ______.						15. ______
16. when a cd is cashed before its maturity date, the depositor must	pay a(n) ______ penalty.					16. ______

Accepted Answer

### 1.
# Brief Explanations:
The description is about the electronic deposit of a paycheck, which is known as direct deposit.
# Answer:
1. direct deposit

### 2.
# Brief Explanations:
Educational funding that doesn't need to be repaid and is additional to scholarships/loans, often government - funded, is a grant.
# Answer:
2. grant

### 3.
# Brief Explanations:
Interest calculated on the principal plus accumulated interest is compound interest.
# Answer:
3. compound

### 4.
# Brief Explanations:
Money paid for the use of money is interest.
# Answer:
4. interest

### 5.
# Brief Explanations:
A regular account at a credit union is a share account (or sometimes a savings account, but share account is specific to credit unions).
# Answer:
5. share (or savings)

### 6.
# Brief Explanations:
Combining student loans into one large loan is loan consolidation.
# Answer:
6. Loan Consolidation

### 7.
# Brief Explanations:
Deposits in credit unions are insured by the National Credit Union Administration (NCUA).
# Answer:
7. National Credit Union Administration (NCUA)

### 8.
# Brief Explanations:
Federal insurance for depositors in commercial banks and savings and loans is provided by the Federal Deposit Insurance Corporation (FDIC).
# Answer:
8. Federal Deposit Insurance Corporation (FDIC)

### 9.
# Brief Explanations:
The greater the risk one is willing to take, the higher the interest rate received.
# Answer:
9. risk

### 10.
# Brief Explanations:
A deposit set aside for a specific time and rate is a certificate of deposit (CD).
# Answer:
10. certificate of deposit (CD)

### 11.
# Brief Explanations:
A savings plan with a more competitive interest rate than a regular savings account is a money - market account (or sometimes a high - yield savings account, but money - market account is a common one).
# Answer:
11. money - market account (or high - yield savings account)

### 12.
# Brief Explanations:
The ability of financial resources to be easily converted to cash is liquidity.
# Answer:
12. liquidity

### 13.
# Brief Explanations:
The amount of money placed in savings is the principal (or deposit).
# Answer:
13. principal (or deposit)

### 14.
# Brief Explanations:
Money borrowed for education, which can be subsidized or unsubsidized, is a student loan.
# Answer:
14. student loan

### 15.
# Brief Explanations:
The day a certificate must be renewed or cashed in is the maturity date.
# Answer:
15. maturity date

### 16.
# Brief Explanations:
When cashing a CD before maturity, a penalty (usually called an early withdrawal penalty) is paid.
# Answer:
16. early withdrawal

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