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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

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Vocabulary for Practical Use Public Transportation and Banks


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announcements
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
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 basics1
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 basics2
Class Basics

SpecificGeneral

Apple Fruit

class basics3
Class Basics

Synonym Antonym

[Same] [Different] [Opposite]

Happy & [Joyful] Happy & Sad

bank account
Bank Account

record of stored money

Bob’s Account

Bob

Elliot’s Account

Elliot

Sarah’s Account

Sarah

atm automated teller machine
ATM=Automated Teller Machine

Many Americans say “ATM Machine”, but that’s incorrect. (Automated Teller Machine Machine)

pin personal identification number
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
Withdrawal & Deposit

Deposit= store money in the bank

Withdrawal = remove money from the bank

withdrawal deposit slip
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
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
Transfer [Wire]

Bob’s Account

Bob

Elliot’s Account

Elliot

Sarah’s Account

Sarah

direct deposit
Direct Deposit

When employers pay people by wiring money to their account

account balance
Account Balance

Balance= how much money you have stored in the bank

Funds [money]

transaction
Transaction

Any movement of money

Examples:

-buying

-selling

-transferring

-depositing

-withdrawal

-etc

statement
Statement

Summary of transactions

This entire piece of paper is a statement

types of accounts
Types of Accounts

Checking

Savings

Elliot’s Account

Elliot

Elliot’s Account

Elliot

slide23
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 = 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
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
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
Payment

Giving money in exchange for something

Payment for Hammer

Bob

Elliot

Person who wants a computer

Repayment(payment for loan)

Payment for computer

slide28
Debt

When you owe someone money

In Debt

Loan

Bob

Elliot

Person who wants a computer

Repaying the Loan

bankrupt
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
Overdraft

When you withdraw more money from your account than you have. You are in debt if an overdraft occurs.

mortgage
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
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
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
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
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

slide36
Bill

Requests to repay loans

Requests to pay mortgages

Requests to repay debt

Examples:

Phone Bill

Mortgage Bill

Insurance Bill

credit vs debit
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
Check (continued)

Bob’s Account

Bob

Elliot’s Account

Elliot

bounce
bounce

Check bounces saying Elliot has no money

Bob’s Account

Bob

Elliot’s Account

Elliot

credit rating credit score
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
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
Income

Gross Income

-Total amount of money you earn from a job.

Net Income

-money you see after subtracting taxes.

investment
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.

slide46
Fare

Fee for using public transportation

cost for using public transportation

route
Route

[Path]

station vs stop
Station vs. Stop

Station usually implies a building of some sort

slide49
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 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 vs. Passenger

Freight train (truck, boat, etc) carries things

(not public)

Passenger train (truck, boat, etc) carries people

commute
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
Trolley [Trolleybus] [Tram]

Runs on electric cables

Now means anything that looks like that

departure
Departure

[Leaving]

arrival
Arrival

[Getting to a destination]

delay
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
Detour

An alternate, usually longer route

turbulence
Turbulence

Airplane shakes due to wind

airplane mode
Airplane Mode

Phone does not work (no transmitting of signal)

one way vs round trip
One Way vs. Round Trip

Round Trip

One Way Trip

passport
Passport

Allows you to travel internationally

luggage suitcases
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 Luggage Vs. Checked Luggage

Carry-on, you keep with you

Checked luggage goes in Cargo Hold

shuttle bus shuttle
Shuttle Bus [Shuttle]

Bus, usually ridden for short distances. Usually only two stops.

carpool
Carpool

More than one person use a car.

Usually instead of taking multiple cars