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PF 5.02

Certificate of Deposit (CD) An account at a depository institution that is used for a fixed period of time and allows restricted access to the funds deposited (Time)
Checking Account An account that allows quick access to funds for transactions (Daily)
Money Market Deposit An account at a depository institution that usually has minimum balance requirements and tiered interest rates (Tiered Interest rates)
Savings Account An account at a depository institution that us designed to hold money not spent on current consumption. (Emergencies)
Saving Tools Accounts offered by depository institutions whose main purpose is to help people manage their money
Tiered Interest Rate The amount of interest earned depends on the account balance
Created by: abigail.xiong59