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Financial Terms

  • Compound Interest (banking setting) - Earned interest on the total amount of money in the account, including pass interest earned.
  • Deposit - Money placed in a bank account, usually to gain interest.
  • Expenses - Money spent on personal needs and desires housing, food, transportation, etc.
  • Income - Money gained through employment and investment returns.
  • Interest - A deposit into your account from the bank based upon the amount of money you have deposited into the account
  • Loan - Financial aid that must be paid, usually with interest added.