PF Chapter 5 Savings

A passbook is used to record

A savings account that requires a fixed deposit amount for a fixed period of time.

______ can only be earned on the principal.

Something you want to achieve stated in terms that are specific, measurable, and realistic.

Most basic savings accounts today are statement accounts.

The rate of yearly earnings from an account including compound interest.

When purchasing a(n), ______you are lending money to the federal governent.

Your savings goals should have 

Interest earned only on principal, which is the amount of money originally deposited.

To earn top dollar on your savings, you should look for

Using interest-earning opportunities can help your savings grow.

Money is considered to be a(n)

Money set aside for unplanned events is a(n)

A strategy for using money to reach goals.

EE bonds can be purchased at your bank.

Inflation is the rate at which prices increase and the value of the dollar decreases.

Purchasing something nice on payday is paying yourself first.

A goal stated in terms that are specific, measurable, achievable, realistic, and time related.

Interest rates of CD's may be fixed, variable, or floating.

The opportunity cost of current spending does not reduce future spending power.

A savings account that pays higher interest than passbook or statement savings accounts.

Refers to the ease in which an asset can be converted to cash.

A type of demand deposit account that pays interest and allows withdrawal and deposits.

The Rule of 72 is used to determine loan payment amounts.

The _____ requires financial institutions to provide clear info about savings.

The more often interest is compounded, the faster savings grow.

Passbook accounts are best suited for individual who do electronic banking

Interest rates are expressed in _____terms

______ can only be earned on the principal and the interest earned.

An account that pays a higher interest rate than regular savings accounts.