Term
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Definition
| Computed only on the principal or the amount of money originally deposited |
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Term
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Definition
| Figured on the money deposited plus the interst it earns. |
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Term
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Definition
| Use it 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
| Earnings that are free of certain taxes. |
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Term
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Definition
| A type of savings in which taxes on principal and/or earnings are not due until the funds are withdrawn |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
| 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
| Requires 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
| loaning the government money for a year |
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