Chapter 5 Vocab

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Across
  1. 2. Interest earned on both principal and previously earned interest.
  2. 4. a card used to withdraw or deduct money from your checking account.
  3. 6. taking money from your account
  4. 8. a type of savings account that earns the market rate of interest on the money deposited.
  5. 9. A discount bond issued by the federal government.
  6. 11. A fixed amount set aside on a regular basis over time.
  7. 12. Interest computed on principal once during a certain time period.
Down
  1. 1. A quick formula for computing how long it will take to double money invested at a given interest rate.
  2. 3. A bond's future value as stated on its face.
  3. 5. A demand deposit account designed for the accumulation of money in a safe place for future use.
  4. 7. A sum of money set aside on which interest is paid.
  5. 10. A time deposit that pays a fixed rate of interest for a specified length of time.