Banking
Flashcard
•
Social Studies
•
12th Grade
•
Practice Problem
•
Hard
Wayground Content
FREE Resource
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41 questions
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1.
FLASHCARD QUESTION
Front
Interest
Back
The incentive to part with money, either earned in a bank account or paid for a loan.
2.
FLASHCARD QUESTION
Front
Interest
Back
The incentive to part with money, either earned in a bank account or paid for a loan.
3.
FLASHCARD QUESTION
Front
Simple interest
Back
Interest earned solely on the principal deposited.
4.
FLASHCARD QUESTION
Front
Compound interest
Back
Interest earned on the principal deposited and the interest previously earned.
5.
FLASHCARD QUESTION
Front
Rule of 72
Back
How long it takes for your money to double at a given interest rate.
6.
FLASHCARD QUESTION
Front
A basic savings account. May require a minimum balance. Pays the lowest interest of the three types of savings accounts.
Back
(Passbook) savings
7.
FLASHCARD QUESTION
Front
Pays higher interest than a basic savings account. Usually requires a higher minimum balance. Has higher interest rates. Usually a limit on the # of withdrawals.
Back
Money Market Account
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