Abeka economics quiz 10 pg. (128-135)

An account that guarantees a certain rate and has a specified maturity date

C.D.

What is a written order authorizing the withdrawal of funds from an account

Check

Account that allows checks to be written up to the dollar amount deposited in the account

Checking account

Who is a person that lends money or capital

Creditor

Who is a person that borrows money or capatal

Debter

A retirement plan funded by only the employer

Defined benefit plan

What type of pension plan requires the employee or employer or both to contribute regularly to a retirement account

Defined contribution plan

What is a contract between two parties in which one party protects the other against certain kinds of loss and exchange for payments

Insurance

Account that allows limited transactions and pays a changeable interest rate

Money market account

Account that allows the account holder to earn interest on deposits

Savings account