Shared Flashcard Set

Details

saving
personal finance
8
Accounting
10th Grade
03/19/2012

Additional Accounting Flashcards

 


 

Cards

Term
Simple interest
Definition
is computed only on the principle or the amount of money originally deposited
Term
compound interest
Definition
is figured on the money deposited plus the interest it earns
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refers to a type of savings in which taxes on principal and/or earning are not due until the funds are withdrawn
Term
annaul percentage yield
Definition
is the rate of yearly earnings from an account, including compound interest
Term
certificate of deposit
Definition
requires you to deposit a given amount of money for a set period of time or term
Term
U.S. savings bond
Definition
a saving tool that loans money to the U.S. goverment for a specified period of time
Term
Rule of 72
Definition
to estimate the amount of time or interest it will take for your savings to double value
Supporting users have an ad free experience!