Shared Flashcard Set

Details

presonal finance
1.02
8
Business
9th Grade
03/19/2012

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Cards

Term
simple interest
Definition
is computed omly on the princpal or the amount of money originally desopited.
Term
compound interset
Definition
is figured on the money desopited plus the interest it earns.
Term
rule of 27
Definition
to estimate the amount of time or interset it will take for you savings to double in value.
Term
tax exampt
Definition
refers to arnings that are free of cretian saving account for eduation expeneses are tax exampt.
Term
APY
Definition
is the rate of yearly earning form and account including compound interset.
Term
CD
Definition
requires you to desposit a given amount of money for a set period of time or trems.
Term
u.s savings dond
Definition
you are loaning the government money for a minimum of one year.
Term
tax deferred
Definition
refers to a type of savings in which taxes on princal and/ or earings are not due unitil fund are withdrawn.
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