PBMF 19.2 Savings & Investments

A(n) ​ (a)   -​ (b)   savings account is a type of demand deposit account that pays interest and allows for regular deposits and withdrawals. They have no set maturity date and withdrawals can be made at any time.

A ​ (a)   savings account is an account that pays a higher interest rate than basic savings accounts. To get the higher rate, however, the bank requires a ​ (b)   initial deposit and a ​ (c)   ​ minimum balance.

What is one key difference between a money market account (MMA) and a regular savings account?

What is the usual minimum balance in a money market account?

What is the minimum amount for each check in the Money Market Account (MMA)?

A ___________ is a savings account that requires a fixed deposit amount for a fixed period of time, or term.

In order to get the highest interest earnings, money must be left in a CD until the term is up. This term may be as little as ​ (a)   or as much as ​ (b)   .

____ is purchasing a financial product or valuable item with the goal of increasing wealth over time in spite of possible loss.

Investments ​ (a)   insured and are considered financial ​ (b)   .

A _____ is a plan to develop investment growth. It is an important step in meeting long-term goals and achieving financial security.