Answer Key

Vocabulary test

Drag & drop: Fill in the missing expression. Use the following words and phrases:
  • accrue
  • owe
  • exchange
  • mortgage
  • borrow
  • lend
  • debit
  • penalized
  • service
  • default
  1. I would like to help you, but I already  [owe] about 3000 dollars to my credit card company for things I bought last month, so I can't loan you anything at the moment.
  2. Columbia announced today that it plans to  [default] on a 700 million dollar loan from the IMF in the face of a worsening economic situation and political unrest.
  3. Because most people are unable to buy a house on their own, banks will often be willing to [mortgage] them with the hopes of collecting interest over a long period.
  4. If you  [lend, loan] money to someone, you should set up firm conditions about when and how they will pay you back.
  5. Most banks provide  [exchange] services, so that you can purchase some local currency before you go on holiday.
  6. For every day that your account is overdrawn, you will be  [penalized] the sum of twenty-five dollars.
  7. Hey, Mom, can I  [borrow] twenty dollars, I need to put some gas in my car but I left my wallet at my girlfriend's house.
  8. Interest can  [accrue] in several ways – daily, weekly, monthly and yearly. But regardless of how it is calculated, it all goes into your account.
  9. Every time you use your ATM card, the bank will  [debit] your account in the corresponding amount.
  10. In order to  [service] their overwhelming debt, the People's Republic of China plans to sell off large reserves of gold on the international market.