Term
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Definition
| computed only on the principal or the amount of money origaninally depostied |
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Term
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Definition
| figured on the money depostied plus the interest it earns. |
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Term
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Definition
| used to estimate the amount or interest it will take for your savings to double in value. |
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Term
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Definition
| earnings that are free of certain taxes |
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Term
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Definition
| type of savings in which taxes on pincipal and/or earnings are not due until the funds are withdrawn. |
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Term
| anunual percentage yield (APY) |
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Definition
| THE RATE OF YEARLY EARNINGS FROM AN ACCOUNT, INCLUDING COMPOUND INTEREST. |
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Term
| certificate of deposit (CD) |
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Definition
| DEPOSIT GIVEN AMOUNT OF MONEY FOR A SET PERIOD OF TIME OR TERM |
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Term
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Definition
| loaning the government money for a minimum of one year. |
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