Banking Vocab Review

A one time payment or fee charged for the use of money loaned

Tags

CCSS.7.RP.A.2B

The percent of interest charged for money loaned

The period of time for which money is loaned

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Bank accounts in which depositors can earn interest on their money

Interest paid on the principal plus interest added to date

Tags

CCSS.HSF.BF.A.2

What is doubling your money rule slower?

• to find the number of months it takes to double money

• divide 100 by the rate of interest

• to find the number of years it takes to double money at a given rate of simple interest

• divide 72 by the rate of interest

What is doubling your money rule faster?

• At the given rate of yearly compounded interest

• divide 100 by the rate of interest

• to find the number of years it takes to double money at a given rate of simple interest

• divide 72 by the rate of interest

A bank account against which a depositor can draw checks

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

A computer terminal that allows 24-hour access to bank accounts

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

A written order that is treated like cash

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C