saving and investing vocab

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

• certificate of deposit

• checking account

• depository institution

• savings tools

an account that allows quick access to funds for transactions

• checking account

• saving tools

• tiered interest rate

• money market deposit account

businesses that provide financial services

• depository institutions

• savings account

• tiered interest rate

• checking account

an account at a depositiory institution that usually has minimum balance requirements and tiered interest rates

• money market deposit account

• savings account

• tiered interest rate

• savings tools

an account ata depository institution that is designed to hold money not spent on current consumption

• savings account

• tiered interest rate

• savings tools

• checking account

accounts offered by depository institutions whose main purpose is to help people manage their money

• savings tools

• tiered interest rate

• compound interest

• saving

the amount of interest earned depends on the account balance

• tiered interest rate

• principal

• liquidity

• interest

earning interest on interest

• compound interest

• do it yourself

• consumption

• interest rate

the purchase of goods and services

• consumption

• emergency savings

• opportunity cost

• trade-off

when you complete a task yourself rather than paying someone else

• do it yourself

• principal

• savings

• interest rate