Term
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Definition
| interest computed only on the principal or the amount of money originally deposited. |
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Term
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Definition
| interest computed on the money deposited plus the interest it earns. |
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Term
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Definition
| the rule used to estimate the amount of time or interest it will take for your savings to double in value. |
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Term
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Definition
| refers to earnings that are free of certain taxes. Certain savings accounts for education expenses are tax exempt. |
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Term
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Definition
| refers to a type of savings in which taxes on principal and or earnings are not due until the funds are withdrawn. |
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Term
| annual percentage yield(APY) |
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Definition
| is 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
| sometimes called a time deposit, it allow you to deposit a given amount of money for a set period of time or term. |
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Term
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Definition
| a bond in which you are loaning the government money for a minimum of one year. On a specified date the government repays the loan with interest |
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