Intro to Savings and Checking Account

Compound interest is when...

• you gain interest at a flat rate
• you pay the bank money
• you're interested in compound sentences
• you gain interest on interest

When can money be taken out of a savings account?

• at any time
• 2 weeks after you open it
• 1 year after you open it
• 10 years after you open it

Legal documents that function like cash are called_________.

• Cash
• Money Market Account 
• Checks
• Savings Account 

_{Card used to deduct funds immediately from your checking account is a ______________________.} 

• EBT Card
• Amazon Card 
• Debit Card
• Gift Card 

At the beginning of the month you open up a savings account. You deposit $500 knowing you will earn 5% interest on the amount each month. How much money is in your account at the end of the first month?

• $475.00
• $525.00

Tags

CCSS.6.RP.A.3C

 Checks written that have not yet been processed by the bank are called __________ checks.

• restrictive
• outstanding
• floating
• blank

__________ is the act of signing another person’s name on a check.

• forgery
• check register
• endorsement
• outstanding

Which of the following refers to the payee's signature on the back of the check?

• signature card
• check register
• endorsement
• bank statement

You _________ your account when you write checks for more money than you have in the bank.

• debit card
• service fee
• overdraw
• deposit

Refers to the likelihood that an investment will decrease in value.

• Chance
• Gamble
• Stake
• Risk