Lets try to figuring out the definition of it.
1. Planning for the distribution of one's estate after death is Estate planning.
2. Trust: an estate, or other property or money, given to a person or institution to manage.
3. Compound interest: figured on the amount of money in the savings account plus the amount of interest already earned.
4. Dividend: a share of money earned as profits by a company and distributed to its stockholders.
5. Checking account: account allows you to write an instruction to the bank, as a check, to make a payment from that account.
6. Will a legal document that describes how your estate should be distributed upon.
8. Purchasing a bond is like loaning money to the company for interest.
9. Club accounts: accounts are set up to save for specific purchases.
11. Mutual fund: instrument in which you purchase a part of a collection of investments.
12. A debit card can be used like a credit card, but money is deducted directly from bank account.
13. Automatic Teller Machine: permits the customer to make transactions by using a special computer terminal.
14. Adjusted balance: balance after adding the outstanding deposits and subtracts the outstanding checks to the balance on the statement.
15. Certificate of deposit (CD) is a sum on deposit usually for a given period of time at a fixed interest rate.
18. A trust created while a person is still alive is called a Living Trust.
19. Intestate: without a will.
20. Interest is the fee a bank pays you to keep your money.
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