MoneyU Glossary of Terms


MoneyU Glossary of Terms


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Insured Deposit Account

An account at a bank or credit union that is insured against loss of up to $100,000.

Interest

A charge for borrowed money, generally a percentage of the amount owed.

Interest Bearing Account

Accounts which gain interest on the money in the account.

Interest income

Money that financial institutions, governments, or corporations pay for the use of investorsÔÇÖ money.

Interest Rate

The rate that a bank or credit issuer charges for the money it lends to you.

Intestacy

Dying without a will that disposes of the estate. Partial intestacy is when a person disposes of less than all of the estate by a will.

Intestate Succession

The disposition of an estate in accordance with the laws of descent and distribution.

Investing

Purchasing securities such as stocks, bonds, and mutual funds with the goal of increasing wealth over time, but with the risk of loss.

IOU

An abbreviation for a promissory note meaning ÔÇ£I owe you.ÔÇØ


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