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Chapter 11
N/A
8
Other
10th Grade
03/21/2012

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Cards

Term
simple interest
Definition
is computed only on the principal or the amount of money originally deposited
Term
compound interest
Definition
interest figured on money deposited plus interest
Term
Rule of 72
Definition
estimate the amount of time or interest it will take for your saving to double in values
Term
tax exempt
Definition
To earnings that are free of certain taxes
Term
tax deferred
Definition
To a type of savings in which taxes on pricipal and earning are not due until the funds are withdrawn
Term
annual percentage yield
Definition
The rate of yearly earnings from an account,including compound interest
Term
certificate of deposit
Definition
money deposited for a period of time that earns a set annual rate of interest
Term
U.S savings bond
Definition
Loaning the government money for a minimum of one year
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