Vocab chapter 4 FP Crossword
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
 
 
Down: 1) A user-owned, nonprofit co-operative financial institution that is organized for the benefit of its members.3) The percentage of increase in the value of savings as a result of interest earned; also called yield.5) An automatic loan made to chequing account customers to cover the amount of cheques written in excess of the available balance in the account. Across: 2) A legal agreement that provides for the management and control of assets by one party for the benefit of another.4) A computer terminal used to conduct banking transactions.6) A savings–investment plan offered by investment companies, with earnings based on investments in various short-term financial instruments.7) Term deposits made for a longer period, usually from one to five years.8) A deposit that is made for a specified term in exchange for a higher rate of return. Can be redeemed before maturity by earning a reduced rate of interest (paying a penalty).9) A financial institution that offers a full range of financial services to individuals, businesses, and government agencies.10) A formula that calculates the effective return, taking compounding into account. EAR = [1 +k/m]m - 1 where: m 5 number of compounding periods in a year k 5 rate of return quoted for a year.
 

 

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