U5-Saving Investing L2 Savings Tools Flashcards
Increase vocabulary skills through repetition to increase comprehension of curriculum
1
Q
account at depository institution used for fixed period of time; allows restricted access to funds deposited
A
certificate of deposit
2
Q
account that allows quick access to funds for transactions
A
checking account
3
Q
account at depository institution usually has minimum balance requirements and tiered interest rates
A
money market deposit account
4
Q
account at depository institution designed to hold money not spent on current consumption
A
savings account
5
Q
accounts offered by depository institutions whose main purpose is to help people manage their money
A
savings tools
6
Q
amount of interest earned depends on the account balance
A
tiered interest rate
