Shared Flashcard Set

Details

Savings
n/a
8
Economics
12th Grade
01/29/2013

Additional Economics Flashcards

 


 

Cards

Term
simple interest
Definition
intrest calculated only only on the money you've deposited, not on prior interest earned
Term
compound interest
Definition
interest calculated on both deposits made and prior interest earned
Term
Rule of 72
Definition
simplified way to determine how long an investment will take to double, given a fixed annual rate of interest.
Term
tax exempt
Definition
personal allowance or specific monetary exemption which may be claimed by an individual to reduce taxable income under some systems
Term
tax deferred
Definition
where a taxpayer can delay paying taxes to some future period
Term
annual percentage yield (APY)
Definition
the actual annual rate at which interest is earned, including the effects of compounding
Term
certificate of deposit
(CD)
Definition
A certificate issued by a bank to a person depositing money for a specified length of time.
Term
U.S. savings bond
Definition
US Savings Bonds are non-marketable securities meaning you cannot buy or sell them unless you are an authorized issuing and redeeming agent designated by The US Treasury Department.
Supporting users have an ad free experience!