Banking, Credit, Monetary Policy

What do we call the minimum amount a bank must keep on hand from depositors?

• Reserve Requirement

• Interest Rate

• Discount Rate

• Debit Requirement

What do we call the amount of time to pay back a loan?

• principal

• term

• cycle

• bond

When the interest rate on a loan fluctuates over time?

• Reserve Interest Rate

• Fixed Interest Rate

• Reserve Requirement

• Variable or Flexible Interest Rate

Means you officially approve of the transaction.

• Authenticate

• Guarantee

• Contradict

• Certify

This type of loan requires collateral and has a lower interest rate because it is less riskier for the lender.

• unsecured

• sheltered

• secured

• riskless

A checking account is best used for...

• Storing money to spend

• Placing money you earn

• Investing money

• Saving money

When the interest rate stays the same for the duration of the loan?

• Reserve Interest Rate

• Fixed Interest Rate

• Minimum Interest Rate

• Flexible Interest Rate

Allows the user to borrow money to purchase items, but must pay back with interest..

• Savings & Loan

• Credit Card

• Interest Card

• Debit Card

What do we call the amount you borrowed?

• Credit line

• Principal

• Credit

• Loan total

Allows the user to deposit and withdraw money whenever they choose.

• Savings Account

• Discount Rate

• Certificate of Deposit

• Checking Account