Unit 07

UNIT 07 MONEY account n. An account is an arrangement in which a bank looks after your money. He is checking how much money is in his bank account. award v. To award something is to give a reward or prize to someone. The college awards certificates to students with high grades. balance n. A balance is the amount of money in a bank account. She is surprised to see that her bank balance is so low. charge v. To charge is to ask for money in return for a service or activity. The cafe charges four dollars for a coffee. cost n. The cost is the price of something. The cost of a taxi ride depends on the distance traveled. deposit v. To deposit is to put money in a bank account. She is depositing cash into her bank account. economy n. An economy is the system by which a country's trade, industry, and money are organized. An increase in tourism will help the town's economy. fare n. A fare is the money paid to travel on public transportation (bus, subway, train). You can use your bus card to pay the fare. fee n. A fee is an amount of money that you pay to do something. You will be charged a 2% fee for using your credit card. financial adj. Financial means relating to or involving money. They are having financial problems.

loan n. A loan is an amount of money that a person or business borrows, especially from a bank. I got a loan from the bank to help buy a new car. owe v. To owe is to need to give someone back money that they have lent you. My brother owes me $20. rate n. A rate is an amount of money that is paid or charged. The hotel's rates start at $75 per night. sum n. A sum is an amount of money. He is putting a small sum of money into his wallet. tax n. A tax is an amount of money that you have to pay to the government. They have to pay taxes according to their income. valuable adj. Valuable means having worth or merit. This is a very valuable ring. value n. Value means the amount of money that something is worth. She is wondering about the value of the painting. wage n. A wage is the amount of money you earn for working. She gets an hourly wage of $18 per hour. wealth n. Wealth means a large amount of money and possessions. People with a lot of wealth can afford expensive things. worth adj. Worth is used to indicate the value of something. His new car is worth a lot of money.