Term
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Definition
| Interest compounded on the principal only |
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Term
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Definition
| Interest paid on the original principal plus the accumulated interest |
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Term
| Annual percentage yield (APY): |
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Definition
| The true or effective rate of interest when compounding is taken into effect |
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Term
| Certificate of Deposit (CD) |
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Definition
| A certificate issued by a bank to a person depositing money for a specified length of time. |
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Term
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Definition
| A savings bond allows citizens to receive a guaranteed return for their investments and helps raise revenue for the government |
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Term
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Definition
A rule of thumb estimating how long it will take for an investment to double
Years to double = 72 / Interest Rate |
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Term
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Definition
| Income whose taxes can be postponed until a later date |
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Term
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Definition
| a security that is not subject to taxation |
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