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Pfan Econ 3
Pfan Econ Types of Savings
Question | Answer |
---|---|
Funds deposited for a set period of time; usually a penalty for early withdrawal. Interest rate dependent upon time limit on deposit | Time deposit |
Shares in corporations. Owners sometimes earn income from dividends. | Stock |
Pays a fixed interest rate; money can be withdrawn at any time. | Passbook savings |
Sold by the government. Might be sold for half of their actual value and reach full value after a period of time. | Savings bond |
Pooled funds of investors, managed by professionals; funds usually invested in stocks and bonds. | Mutual fund |
Called NOW accounts; owner can write checks on the account, which also earns interest | Interest-bearing checking |
Purchase of land and/or buildings; money is made when it is sold for more than what was paid for it. | Real estate |