PF Chapter 5 Savings

Money set aside for unplanned events is a(n)

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

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

Using interest-earning opportunities can help your savings grow.

Interest rates are expressed in _____terms

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

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

Purchasing something nice on payday is paying yourself first.

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

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

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

Your savings goals should have 

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

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

Most basic savings accounts today are statement accounts.

______ can only be earned on the principal.

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

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

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

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

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

A passbook is used to record

A strategy for using money to reach goals.

EE bonds can be purchased at your bank.

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

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

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

Passbook accounts are best suited for individual who do electronic banking

Money is considered to be a(n)

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