4.10E (Supporting) - 4th Grade Math STAAR Review

Front

What happens to your money when you make a withdrawal?

Back

You subtract money from your account.

Front

What are the primary services of a bank?

Back

Banks offer checking and savings accounts, loans, and financial advice.

Front

What is NOT a good reason to use a financial institution?

Back

Letting your friend borrow $10.

Front

What do you pay back when you repay a loan?

Back

You pay back the amount borrowed plus interest.

Front

What is a checking account?

Back

A bank account that allows you to deposit and withdraw money for daily transactions.

Front

What is a savings account?

Back

A bank account that earns interest on your deposits and is used for saving money.

Front

What is interest?

Back

The extra money you pay back on a loan, or the money earned on savings.

Front

Why do people use banks?

Back

To keep their money safe, earn interest, and access loans.

Front

What is a loan?

Back

Money borrowed that must be paid back with interest.

Front

What is a deposit?

Back

Money added to a bank account.