Compound Interest
Interest calculated on both principal and accumulated interest.
Related Terms
More Banking Terms
ACH Transfer
Automated Clearing House electronic funds transfer system.
APR
Annual Percentage Rate - the yearly cost of borrowing.
APY
Annual Percentage Yield - the real rate of return on savings.
Bank Reconciliation
Matching bank statement transactions with accounting records.
Business Checking
A bank account designed for business transactions.
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