Savings account vocabulary words
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| 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.
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| Compounding Interest | Figuring interest earnings on both the original amount and any previous interest that has been added to the balance
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| 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
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| Annual percentage yield | The amount of interest that a deposit would earn after compounding for 1 year expressed as a percentage
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| Return | earnings from a savings account or profit from an investment
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| Invest | Committing $ to an enterprise in order to earn a return
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| Liquidity | The ability of an asset(some you own) to be quickly and easily converted into cash
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| Variable | changing
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| Fixed | Stays the same
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| Simple interest | Interest earned and paid out to the investor(you)
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