Unit 2

Question 1

Transaction

Answer 1

A deposit or withdrawal from an account

Question 2

Checking account

Answer 2

An account that you open at a bank that you can access multiple times a day if needed.

Question 3

Savings account

Answer 3

A account that you add money to frequently but only take out money.

Question 4

Balance

Answer 4

is the amount of money you have available in your checking or savings account.

Question 5

Credit card

Answer 5

A card that you use to borrow money BUT you must pay it back or you get charged interest on top of what you borrowed.

Question 6

Debit card

Answer 6

A card that you use to purchase things, and the amount comes directly out of your checking account.

Question 7

Deposit

Answer 7

An amount of money that you ADD to an account.

Question 8

Direct deposit

Answer 8

Getting paid by your employer depositing money DIRECTLY into your checking account.

Question 9

Withdraw

Answer 9

TAKING OUT money from an account

Question 10

Loan

Answer 10

an amount of money that you owe a person or business and will possibly be charged interest.

Question 11

Earnings

Answer 11

are the amount of profit that a company produces during a specific period.

Question 12

Interest

Answer 12

A percentage of the balance that is in addition to the balance.

Question 13

Fee

Answer 13

Is a set amount of money that you must pay.

Question 14

Identity Theft

Answer 14

when a person uses someone else’s identity (SSN - Social Security Number) to purchase items or open accounts.

Question 15

Transfer

Answer 15

Moving money from one account to another to another account.

Question 16

Debt

Answer 16

To OWE someone or something an amount of money.

Question 17

Personal Check

Answer 17

Is a paper form of payment that is from your checking account.

Question 18

Penalty

Answer 18

An additional amount of money that you must pay for a negative transaction.

Question 19

Value

Answer 19

An amount of money that something is worth

Question 20

Total

Answer 20

Adding or subtracting ALL of the amount of money.

Question 21

Budget

Answer 21

Setting aside a certain amount of money for a certain item or event.

Question 22

Income

Answer 22

An amount of money that you have earn for a service.

Question 23

Gross Income

Answer 23

The amount of money you earn BEFORE expenses are taken out.

Question 24

Price

Answer 24

Is the amount of money that something costs.

Question 25

Range

Answer 25

A low and a high price for an item, but also includes any money amount in between.

Question 26

Unit Price

Answer 26

How much each item in the package costs.

Question 27

Net Income

Answer 27

The amount of money you earn AFTER expenses are taken out.

Question 28

Sales Tax

Answer 28

Is a percentage (%) of money you must pay on top of the cost of an item.

Question 29

Coupon

Answer 29

Given you discount on a specific item(s).

Question 30

Discount

Answer 30

An amount (percentage %) of a group of item.

Question 31

Sales

Answer 31

Is a discount taken off of items through out the store or business.