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