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5.02

Savings Tools

TermDefinition
certificate of deposit account allowing restricted access to funds deposited
checking account account allowing quick access to funds for transactions
depository institution banks
liquidity how quick and easy an asset can be converted to cash
money market deposit account account having a min. balance requirement and tiered interest rates
savings account account holding money not spent on current consumption
savings tools accounts offered to assist people's money-management
tiered interest rate amount of earned interest depends on account balance
Created by: Tate.cord70