Chapter 30: Savings Accounts

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10 Terms

1

Liquidity

________ means the ability to quickly turn an investment into cash.

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2

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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3

Earnings

________ on savings can be measured by the rate of return, or yield.

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4

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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5

loans

Banks, savings and ________, and credit unions are all insured.

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6

CD

A(n) ________ has a maturity date, which is when the money becomes available to you.

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7

Principal

When ________ and interest are left in an account, it earns compound interest.

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8

Inflation

________ is a general increase in the cost of goods and services.

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9

brokerage firms

Banks, savings and loans, savings banks, credit unions, and ________ all offer several types of savings accounts.

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10

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

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