Front

Interest

Back

Amount paid to or by an individual for the use of money.

Front

Income tax

Back

Government charges for money earned.

Front

Checking Account

Back

Bank account that holds your money and allows you to withdraw to pay bills.

Front

Annually

Back

An event that occurs once a year.

Front

Savings Account

Back

Investment with low interest rates but unlimited access for withdrawal.

Front

Principal

Back

The original sum of money borrowed or invested, excluding any interest or dividends.

Front

Money Market Account

Back

A type of savings account that typically earns a higher interest rate and has limited check-writing ability.

Front

Future Value

Back

The value of an investment at a specific date in the future, based on an assumed rate of growth.

Front

Initial Value

Back

The starting amount of money before any interest or growth is applied.

Front

Withdrawal

Back

The act of taking money out of a bank account.