Unit 10: Banking Essentials Lesson 31: Banking Basics Module 108: Avoiding Fees and Maximizing Interest Revenue

Match it! Select the correct answer from the pull down...Good luck!

Requires you to leave the money untouched for a set amount of time and there is a penalty if you take it out early.

A formula can tell you how long it will take your money to double

In general, the higher the risk of loss of principal for an investment, the

interest earned on both the principal amount and any interest already earned Interest earn on top of Interest

You will receive more interest , if it is compounded _________

__________plan is a tax-deferred savings plan offered by an employer to an employee. The employee contributes a percentage of his or her earnings to the plan each pay period

Interest earned only on the principle . Formula I=P * T

interest-bearing deposit account held at a bank or other financial institution that provides a small interest rate.