Term
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Definition
| Computed only on the principal or the amount of money originally deposited. The pricipal does not include intrest earned. |
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Term
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Definition
| Is figured on the money deposited plus the intrest it earns. |
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Term
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Definition
| To estimate the amount of time or intrest it will take for your savings to double value. |
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Term
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Definition
| Refers to earnings that are free of certain taxes, certain savings accounts for educational expenses are tax exempt. |
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Term
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Definition
| Is the rate of yearly earnings from an account including compound intrest. |
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Term
| Certified Of Deposit (CD) |
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Definition
| Requires ypu 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
| You are loaning the govrnment money for a minimum of one year. |
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Term
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Definition
| Refers to a type of savings in which taxes on rinciipal and/ or earnings are not due until the funds are withdrawn. |
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