Unit 2 Flashcards
Transaction
A deposit or withdrawal from an account
Checking account
An account that you open at a bank that you can access multiple times a day if needed.
Savings account
A account that you add money to frequently but only take out money.
Balance
is the amount of money you have available in your checking or savings account.
Credit card
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.
Debit card
A card that you use to purchase things, and the amount comes directly out of your checking account.
Deposit
An amount of money that you ADD to an account.
Direct deposit
Getting paid by your employer depositing money DIRECTLY into your checking account.
Withdraw
TAKING OUT money from an account
Loan
an amount of money that you owe a person or business and will possibly be charged interest.
Earnings
are the amount of profit that a company produces during a specific period.
Interest
A percentage of the balance that is in addition to the balance.
Fee
Is a set amount of money that you must pay.
Identity Theft
when a person uses someone else’s identity (SSN - Social Security Number) to purchase items or open accounts.
Transfer
Moving money from one account to another to another account.
Debt
To OWE someone or something an amount of money.
Personal Check
Is a paper form of payment that is from your checking account.
Penalty
An additional amount of money that you must pay for a negative transaction.
Value
An amount of money that something is worth
Total
Adding or subtracting ALL of the amount of money.
Budget
Setting aside a certain amount of money for a certain item or event.
Income
An amount of money that you have earn for a service.
Gross Income
The amount of money you earn BEFORE expenses are taken out.
Price
Is the amount of money that something costs.
Range
A low and a high price for an item, but also includes any money amount in between.
Unit Price
How much each item in the package costs.
Net Income
The amount of money you earn AFTER expenses are taken out.
Sales Tax
Is a percentage (%) of money you must pay on top of the cost of an item.
Coupon
Given you discount on a specific item(s).
Discount
An amount (percentage %) of a group of item.
Sales
Is a discount taken off of items through out the store or business.
