CHAPTER 7 - FINANCIAL MANAGEMENT

Incomes from wages and perhaps from investments are deposited to this account, and expenses are paid from it.

It is use when funds distributed regularly such as a paycheck or a government distribution.

Withdrawals or payments have many electronic options scheduled to take care of a periodic payment (i.e., same payee, same amount) such as a mortgage or car payment.

A card offered by a bank allows for convenient access to the cash in your bank accounts through instant cash withdrawals.

They are referred to as the money markets and the capital markets.

They are used for relatively short-term, low-risk trading of money.

They are used for relatively long-term, higher-risk trading of money.

A bank functions as an _______ or “_______” between the individual lender of money (the saver) and the individual borrower of money.

It function similarly, but are cooperative membership organizations, with depositors as members.

It is commonly known as thrift institutions, savings banks, savings, and loan associations, or mutual savings banks and are usually private or public corporations