Savings Test

The price of money

• asset

• interest

• savings

A depository institution account that is designated to hold money not spent on current consumption

• savings account

• checking account

• certificate of deposit

An account at the depository institution that is used for a fixed period of time and allows restricted access to the funds deposited.

• checking account

• Certificate of Depost account

• savings account

An account at a depository institution that provides an easy method for withdrawing and depositing money.

• savings account

• money market

• checking account

An account at a depository institution that usually has minimum balance requirements and tiered interest rates

• Checking Account

• Money Market Deposit Account

• Certificate of Deposit Account

Easily accessible, but less liquid than a checking account

• Savings account

• Checking Account

• Money market account

May require a minimum balance or have a limited number of withdrawals each month.

• certificate of deposit account

• money market account

• savings account

Penalties are most likely assessed if funds are withdrawn early

• Savings Account

• Certificate of Deposit Account

• Checking Account

Interest is tiered

• Money Market Deposit Account

• Checking Account

• Savings Account

Time length usually ranges from seven days to ten years.

• Checking Account

• Money Market Account

• Certificate of Deposit Account