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Created with Fabric.js 1.4.5 401(k)A 401(k) is a retirement savings plan sponsored by an employer. It lets workers save and invest a piece of their paycheck before taxes are taken out. Taxes aren't paid until the money is withdrawn from the account. Savings Investment s and ROTH IRA One time deposit is a financial instrument provided by banks which provides investors with a higher rate of interest than a regular savings account, until the given maturity date. SIMPLE VS. COMPOUND 1. 2. Periodic Deposit is the investment made in form of equal deposits over a time period regularly. Each deposit recurs after a time interval. 1. 2. Simple interest is interest paid only on the original principal, not on the interest accrued Compound interest is interest added to the principal of a deposit or loan so that the added interest also earns interest from then on. A Roth Individual Retirement Arrangement is a retirement plan under US law that is generally not taxed, provided certain conditions are met. Benefits: You can save for emergencies that may come as surprises. Protect your credit rating.Disadvantage: If you dont pay back, your credit will be bad. COMPARE/CONTRAST Pre-TaxEarnings/Income before tax deductions Annual Maintenance Fee The costs incurred to keep an item in good condition and/or good working order. double click to change this header text! Brandon, Ahmet, and Fatim
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