Lesson 8: Super-Size Your Savings
Terms in this set (7)
adding the interest earned on an account to the principal balance so that the earned interest earns interest.
a calculator that has been preloaded with financial formulas such as the the compound interest formula.
to commit money to buy assets with the expectation of the value of the assets increasing over time.
the ability to quickly convert an asset to cash.
round up account
savings program that rounds up debit card purchases to the nearest dollar and automatically transfers the difference to a savings or investment account.
Rule of 72
a method for estimating the time it takes for a sum of money to double in value through compounding.
interest that is paid out as it is earned and is not added to the principal balance.
YOU MIGHT ALSO LIKE...
Series 7 Top-Off Exam Preparation | Knopman Marks Guide
PF 5.02 Savings Tools
OTHER SETS BY THIS CREATOR
Lesson 18: Resolving Insolvency
Lesson 17: How to Lose it All..
Lesson 16: Share with Care!
Lesson 15: Protect What You've Earned
THIS SET IS OFTEN IN FOLDERS WITH...
Lesson 10: Your Risky Retirement
Lesson 11: Investing 101
Lesson 12: Small Biz Whiz
Lesson 13: Credit Card Craze