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Unit # 5 vocab
Savings account vocabulary words
| Question | Answer |
|---|---|
| Interest | the cost of using $, either paid by banks to their depositors(the people who keep their $ in the bank) or paid by borrowers to the institution that provided their loans. |
| Compounding Interest | Figuring interest earnings on both the original amount and any previous interest that has been added to the balance |
| Principle | The amount of $ originally borrowed or still owned on which interest is charged; or the amount of $ deposited or credited on which interest is earned |
| Annual percentage yield | The amount of interest that a deposit would earn after compounding for 1 year expressed as a percentage |
| Return | earnings from a savings account or profit from an investment |
| Invest | Committing $ to an enterprise in order to earn a return |
| Liquidity | The ability of an asset(some you own) to be quickly and easily converted into cash |
| Variable | changing |
| Fixed | Stays the same |
| Simple interest | Interest earned and paid out to the investor(you) |
Created by:
mouaX2
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