2.2 Saving Account Quiz Study Guide

____________________ interest is computed on the principal once in a certain time period.

____________________ is when an account allows quick and easy access to the money in it.

A __________________________ is a type of prepaid check that directs payment of a sum of cash

to a payee.

__________________________________ provides a quick way to see how long it will take

to double money invested at a given rate.

___________________________ is the sum of money set aside on which interest is paid.

A _____________________________ is a check issued by the bank against bank funds.

___________________ is the original amount of a U.S. Savings Bond when purchased.

A ________________________ is a bank service that directs the bank not to honor a check that

you wrote or lost

__________________ interest will be added to the principal periodically (i.e. monthly or

quarterly).

A _____________________________________ is a time deposit (rather than a demand deposit).