Term
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Definition
| Interest computed only on the principal. |
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Term
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Definition
| Interest figured on money deposited plis interest. |
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Term
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Definition
| A method used to estimate the amount of time or interest it will take for 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
| Savings or earnings that are not taxed until the funds afe withdrawn. |
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Term
| Annual Percentage Yeild (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
| Money deposited for a set period of time that earns a set annual rate of interest. |
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Term
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Definition
| A savings tool that loans money to the U.S. government for a specified period of time. The bondholder is repaid with interest at the time of maturity. |
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