MMA Unit 6 Savings a
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Safety deposit box | an individually secured container—usually a metal box—that stays in the safe or vault of a bank.
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| Savings Account | a bank account similar to a checking account, except it accrues interest and there may be a cap on the number of withdrawals you can make in a month
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| Deposit | adding money to an account
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| Withdrawal | taking money out of an account
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| Principal | the original loan or investment amount
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| Interest | a percentage amount of a loan amount that must be repaid along with the loan amount
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| Simple Interest | interest that is calculated on just the loan principal, not including any accrued interest
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| Annual Percentage Rate (APR) | the yearly interest rate for a loan
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| Certificate of Deposit | a certificate issued by a bank to a person depositing money for a specified length of time at a simple interest rate.
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| Bond | a promise by a company or government to repay principal at a specific date and to pay simple interest at a regular interval.
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| Compound Interest | interest that is calculated on the total amount owed, including previously accrued interest
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| Share | a unit of ownership of a business
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| Shareholder | an owner of shares in a company
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| Stock | the shares in a business; in other words, the stock in a business is divided into individual shares
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| Dividends | a sum of money paid regularly (typically quarterly) by a company to its shareholders out of its profits (or reserves).
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| Stock Market | the buying and selling of shares, usually through public exchanges
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| Mutual Fund | a company that brings together money from many people and invests it in stocks, bonds or other assets.
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