Chapter 30: Savings Accounts

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10 Terms

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Liquidity
________ means the ability to quickly turn an investment into cash.
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major purchases
People set up and maintain a savings plan for three reasons: to make ________, to provide for emergencies, and to have income for retirement.
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Earnings
________ on savings can be measured by the rate of return, or yield.
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Brokerage firms
________, which buy and sell stocks and bonds, offer a special type of savings account called a money market fund.
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loans
Banks, savings and ________, and credit unions are all insured.
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CD
A(n) ________ has a maturity date, which is when the money becomes available to you.
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Principal
When ________ and interest are left in an account, it earns compound interest.
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Inflation
________ is a general increase in the cost of goods and services.
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brokerage firms
Banks, savings and loans, savings banks, credit unions, and ________ all offer several types of savings accounts.
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People set up and maintain a savings plan for three reasons
to make major purchases, to provide for emergencies, and to have income for retirement