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Types of Accounts
BTC 30.2
Question | Answer |
---|---|
Allows consumers to withdraw or deposit money at any time and to earn interest on the funds. | Regular Savings Accounts |
An account that requires you to deposit a specified amount of money in an account for a set period of time. | Certificate of Deposit |
The date when the CD account becomes available to you. | Maturity Date |
A mutual fund where you pool your money in a variety of short-term loan accounts by business an government. | Money Market Fund |
Like the money market fund but by financial institutions. | Money Market Deposit Accounts |
The ability to quickly turn an investment into cash. | Liquidity |
The risk at which the rate of inflation will increase more than the interest rate on savings. | Inflation Risk |
A society or organization founded for a religious, educational, social, or similar purpose. | Institution |
Put, lay, or stand something in a specified place or position. | Set |
The time during which something continues. | Duration |
Experienced or done by each of two or more parties toward the other or others. | Mutual |
Interest earned only on money deposited into a savings account. | Simple Interest |