Term
|
Definition
| computed only on the principal or the amount of money orginally deposited |
|
|
Term
|
Definition
| figured on the money deposited plus the interest it earns |
|
|
Term
|
Definition
| to estimate the amount of time or interest it will take for your saving to double in value |
|
|
Term
|
Definition
| refers to earnings that are free of certain taxes. |
|
|
Term
|
Definition
| refers to a type of savings in which taxes in principal and/or earnings are not due until the funds are withdrawn |
|
|
Term
| annual percentage yeild (APY) |
|
Definition
| the rate of yearly earning 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 time or term |
|
|
Term
|
Definition
| you are loaning the government money for a minimum of one year. |
|
|
