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account statement shows all deposits, withdrawals, and interest credited to your account annual interest rate the percent of the principal that you earn as interest based on one year annuity equal amount of money are deposited at equal periods of time annuity due regular deposits at the beginning of the period which immediatley start earning interest compound interest interest earned not only on the original principal, but also on the interest earned during previous interest periods daily compounding interest computed each day and added to the account balance deposit money you give to the bank to hold in your savings account interest rental fee paid by a bank for the use of your money ordinary annuity occurs when equal deposits are made at the end of each interest period principal amount of money earning interest savings account special bank account that earns interest simple interest interest based on the principal, the interest rate, and the amount of time for which the principal is borrowed withdrawal money you take out of your bank account