Hi, I’m Dollar the Dragon! These are some of the words and phrases you may hear when people talk about money.
Account: Your account is the relationship you have with a bank or any other business. It’s also a record of that relationship.
Activity: Anything that happens in your account, including deposits, withdrawals, checks paid, interest payments, and service fees.
Advertise: To let people know about a product or service so that they will want to buy it.
Amortize: This is what happens when a loan is paid off. An installment loan is amortized by equal payments over a period of time.
Annual Percentage Rate: The interest paid on a loan or deposit over one year.