Mark the savings terms

Exercise and reference answers

Clues and terms

1. Clue

   Money a financial institution pays you for keeping a deposit with it

   Item

   Interest

2. Clue

   Earning interest on interest that has already been credited

   Item

   Compounding

3. Clue

   Yearly percentage that already includes the effects of compounding

   Item

   APY

4. Clue

   Divide 72 by the rate to estimate the years needed to double money

   Item

   Rule of 72

5. Clue

   Federal agency insuring deposits at federally insured banks

   Item

   FDIC

6. Clue

   Agency insuring deposits at federally insured credit unions

   Item

   NCUA

7. Clue

   Money set aside only for unexpected expenses, often $500 to $1,000

   Item

   Emergency fund

8. Clue

   Specific, measurable, action-oriented, reachable and time-bound

   Item

   SMART goal

9. Clue

   Account for a qualifying disability that began before age 26

   Item

   ABLE account

Instructions

Read each clue and tap the cell it describes until a line is complete.

Explanation