Flashcards
CeFS key terms Topic 7
Cards in this deck (8)
- 1AERAnnual equivalent rate - the interest that will be earned on your money in one year taking into account how often the provider pays the interest (daily/monthly/half yearly/yearly) the effect of compounding the interest and any fees and charges
- 2AssetsThings that a person or a business owns. Might include property, jewellery or financial products such as company shares
- 3BondsA savings product that is held for a fixed period.
- 4Cash cardA card used to withdraw cash from an ATM or at the counter
- 5Cash ISA (Individual Savings Account)An account that pays interest tax-free on cash savings up to a certain level
- 6Chancellor of the ExchequerThe British cabinate minister responsible for financial and economic matters and in charge of the treasury,
- 7Childrens bondAn invest bond taken out by a parent, legal guardian or (great) grandparent for a child under 16. Investing between £25 and £3,000. The investor is guaranteed interest at a fixed rate for 5 years after which the bond matures. A nominated parent or guardian controls the bond until the child reaches 16.
- 8Common bondAn interest or circumstances shared by a group of people, e.g working for the same employer or living in the same area.
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- Flashcards on CeFS key terms Topic 7, created by palacey on 19/11/2013.
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- palacey
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