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Details

Savings
personal finance
8
Accounting
12th Grade
03/19/2012

Additional Accounting Flashcards

 


 

Cards

Term
Simple interest
Definition
is computed onlyon the principal does not include interest earned.
Term
Compound interest
Definition
is figured on the money deposited plus the interest it earns.
Term
Rule of 72
Definition
to estimate the amount of time or interest it will take for your savings to double in value.
Term
Tax exempt
Definition
refers to earnings that are free of certain taxes.
Term
Tax deferred
Definition
refers to a type of savings in which taxes on principal and/or earnings are not due until the founds are withdrawn.
Term
Annual percentage yield (APY)
Definition
is the rate of yearly earnings from an account including compound interest.
Term
Certificate of deposit (CD)
Definition
requires you to deposit a given amount of money for a set period of term.
Term
U.S. savings bond
Definition
you are loaning the goverment money for loan with interest.
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