Savings
This type of bank account is designed to store money safely while earning a small amount of interest over time.
Savings Account
This financial concept describes earning interest not only on your original money, but also on the interest you have already earned.
Compound Interest
This card allows you to make purchases directly from your bank account without borrowing money.
Debit Card
This quick math rule helps investors estimate how many years it will take for their money to double by dividing 72 by the interest rate.
Rule of 72
When you buy this, you are purchasing a small ownership stake in a company.
Stock (Share)
This type of bank account is typically used for everyday purchases and is often connected to a debit card.
Checking Account
This term refers to the original amount of money you deposit or invest before interest begins to grow.
Principal
This machine allows bank customers to withdraw cash, check balances, or deposit money without entering a bank branch.
atm
Using the Rule of 72, if you earn an 8% return, your money will double in approximately this many years.
9 years
This event occurs when a private company sells shares to the public for the first time.
IPO
Banks encourage customers to keep money in these longer-term accounts by offering higher interest rates in exchange for not withdrawing funds early.
Certificate of Deposit
If you deposit $500 into a savings account earning 5% interest compounded yearly, about how much money will you have after 1 year?
$525
This technology records cryptocurrency transactions across many computers so that records cannot easily be changed.
Blockchain
If an investment doubles every 12 years, the approximate annual interest rate according to the Rule of 72 would be this percentage.
6%
This investment involves lending money to a government or corporation in exchange for regular interest payments.
If you save $20 per week, how much money will you save in 1 year?
$1,040
The "N" in the compound interest formula stands for
Number of times compounded
This digital form of currency operates independently of central banks and is often secured by cryptography.
Cryptocurrency
If your money is invested at 6% interest, approximately how many years will it take for your money to double?
12 years
This type of investment combines many different bonds into one professionally managed portfolio.
A student saves $50 per month. How much money will they save after 12 months?
$600
What is the Compound Interest formula?
How much money a fund will charge you for investing in that specific investment/fund.
Expense Ratio
An investment earns 9% annual interest. Using the Rule of 72, estimate how long it will take to double your money.
8 years
You bought a stock at $25 per share and sold it at $30 per share. How much profit did you make per share?