Vocabulary for Practical Use Public Transportation and Banks. Elliot Sepos. Happy Halloween!. I’m a Mad [Crazy] [Insane] Scientist. Announcements. I have your homework! Don’t let me forget to give it to you! Sign in! The International Center wants to know you were here
Vocabulary for Practical UsePublic Transportation and Banks
I’m a Mad [Crazy] [Insane] Scientist
Announcements I have your homework! Don’t let me forget to give it to you! Sign in! The International Center wants to know you were here Suggestion for vocabulary in emails and text messages, we will include this with the lecture on November 21st, “The Internet” RevaChandrasekaran is offering a Grammar class from 3:30-4:30 pm Tuesday and Thursday. If you want to request a topic/place/situation where you want to learn more words, please let me know (ask in person, email, phone, etc)
Class Basics This class is taught in English, since you all speak different languages If you don’t understand something, raise your hand and ask me to “Rephrase” Rephrase- “Say the same thing using different words” Rephrased thoughts and synonyms on my presentations are within brackets [words that mean the same thing on my lecture slides look like this]
Class Basics http://web.ics.purdue.edu/~esepos -Class Schedule -Past Presentations -Electronic Copies of Handouts and Homework -My contact information http://www.intlctr.org/
Class Basics SpecificGeneral Apple Fruit
Class Basics Synonym Antonym [Same] [Different] [Opposite] Happy & [Joyful] Happy & Sad
Public Transportation and Banks Vocabulary
Teller [Bank Worker] [Banker]
Bank Account record of stored money Bob’s Account Bob Elliot’s Account Elliot Sarah’s Account Sarah
ATM=Automated Teller Machine Many Americans say “ATM Machine”, but that’s incorrect. (Automated Teller Machine Machine)
PIN= Personal Identification Number Many Americans say, “PIN Number,” but that’s incorrect. (Personal Identification Number Number) PINs are normally 4 digit numbers (i.e. 5555, 1234, 9375, 4875, etc.)
Withdrawal & Deposit Deposit= store money in the bank Withdrawal = remove money from the bank
Withdrawal/Deposit Slip When you talk to the teller to deposit or withdraw money, you use one of these.
Bank Transfer [Bank Wire] [Credit Transfer] Moving money from 1 bank account to another Elliot’s Account at Bank 1 Elliot’s Account at Bank 2
Transfer [Wire] Bob’s Account Bob Elliot’s Account Elliot Sarah’s Account Sarah
Direct Deposit When employers pay people by wiring money to their account
Account Balance Balance= how much money you have stored in the bank Funds [money]
Transaction Any movement of money Examples: -buying -selling -transferring -depositing -withdrawal -etc
Statement Summary of transactions This entire piece of paper is a statement
Loan Temporarily give someone money. They need to give the money back eventually. Elliot doesn’t have any money, but Bob does. Elliot wants to buy a hammer, to turn his piece of wood into a computer, then sell the computer. Bob loans Elliot some money, and Elliot eventually pays him back. Loan Bob Elliot Person who wants a computer Repaying the Loan With Interest
Annual = yearly Annual interest rate Rate or 5% per year Loan $100 Interest after 1 year is $5 Interest after 2 years is $10
Variable Interest vs. Fixed Interest Fixed: always 5% annual interest Variable: 5% annual interest for the first 4 days, 10% after the first 4 days. A variable = [something that changes] [something that varies]
Prime Interest Very low [small] interest. Usually offered to people who are very likely to pay back their loan. Usually for short-term loans.
Payment Giving money in exchange for something Payment for Hammer Bob Elliot Person who wants a computer Repayment(payment for loan) Payment for computer
Debt When you owe someone money In Debt Loan Bob Elliot Person who wants a computer Repaying the Loan
Bankrupt When you owe someone money and can’t pay them back bankrupt Loan Bob Elliot Person who wants a computer Repaying the Loan
Overdraft When you withdraw more money from your account than you have. You are in debt if an overdraft occurs.
Mortgage You usually need a loan to buy a house The loan is rather big to buy a house The bank owns the house, until you pay back your debt. Person or bank owns something while you use it, at until you pay it back
Mortgage (example) Bob owns the hammer until I can pay him back. Bob gets the hammer if I don’t pay him back Mortgage Bob Elliot Person who doesn’t want a computer
Default Elliot agrees to repay Bob at least $10 a month after the first month Bought Hammer for $100 (expensive hammer) Elliot can’t pay back Bob, and defaults on his debt. Sells computer, pays monthly payment Makes monthly payment again Doesn’t feel like paying back Bob, even though he can. Defaults on his debt. Repays full loan.
Co-sign If you can’t repay your debts, someone else will. Elliot’s Dad co-signs to the loan. If Elliot can’t pay back the loan, his dad has to pay it. Elliot’s Dad Bob Elliot Person who doesn’t want a computer
Fees [Service Charge] Cost of a service Example: This class has a fee of $0. Example: The fee for riding the bus is $3. Example: Sometimes there are fees to use the ATM. Example: The entrance fee to get into the park is $6. Overdraft fee
Bill Requests to repay loans Requests to pay mortgages Requests to repay debt Examples: Phone Bill Mortgage Bill Insurance Bill
Credit vs. Debit Credit card -Short term loans -you need to pay bills for credit cards Debit card [ATM Card] -Money is withdrawn directly from your bank account.
Check (continued) Bob’s Account Bob Elliot’s Account Elliot
bounce Check bounces saying Elliot has no money Bob’s Account Bob Elliot’s Account Elliot
Credit Rating [Credit Score] People’s confidence in your ability to pay your debts. Examples: -Bob always pays his debts. Bob has a good credit score -Elliot never pays his debts. Elliot has a bad credit score.
Credit Limit Amount of money you can withdraw on a loan. How much debt you are allowed to have. Example: You can only borrow $1,000 using your credit card.
Income Gross Income -Total amount of money you earn from a job. Net Income -money you see after subtracting taxes.
Investment Making money off interest from loans -usually offering loans to companies Examples: -I invested in Google years ago. I only gave them $5, but they’ve paid me back at least $5000 now! -I don’t want to invest in Bob’s new store. I don’t think he will be successful, I would just lose my money.
Public Transportation and Banks Vocabulary
Fare Fee for using public transportation cost for using public transportation
Station vs. Stop Station usually implies a building of some sort
Line Usually applies to trains. Indicates which track it is on. The track determines the route. Different Bus routes or Airplane routes may be called lines as well.
End of Line [Last stop] “End of the Line” as an idiom = the point where it is no longer possible to continue with an activity
Freight vs. Passenger Freight train (truck, boat, etc) carries things (not public) Passenger train (truck, boat, etc) carries people
Commute To travel long distances all the time Example: Living in Indianapolis, but commuting to Purdue every day to study -Commuter Trains
Trolley [Trolleybus] [Tram] Runs on electric cables Now means anything that looks like that
Arrival [Getting to a destination]
Delay Example: Departure was supposed to be at 10:00. The bus left at 10:30. There is a 30 minute delay. [making something late or slow]
Detour An alternate, usually longer route
Turbulence Airplane shakes due to wind
Airplane Mode Phone does not work (no transmitting of signal)
One Way vs. Round Trip Round Trip One Way Trip
Passport Allows you to travel internationally
Luggage [Suitcases] Baggage = Things in your luggage Most people in the United States use Baggage and Luggage as the same word.
Carry-on Luggage Vs. Checked Luggage Carry-on, you keep with you Checked luggage goes in Cargo Hold
Shuttle Bus [Shuttle] Bus, usually ridden for short distances. Usually only two stops.
Carpool More than one person use a car. Usually instead of taking multiple cars