| A | B |
|---|
| compound interest | interest computed on the amount saved plus the interest previously earned |
| interest | money you receive for letting others use your money |
| interest rate | the cost of money |
| investing | using your savings to earn more money |
| long-term growth | investment goal for future financial security |
| money market account | a savings plan that pays a variable interest rate based on various government and corporate securities |
| saving | storage of money for future use |
| savings account | a savings plan with a low or zero minimum balance |
| simple interest | interest computed only on the amount invested |
| simple interest rate formula | I=PRT |
