Examlex
Regarding ECT, which of the following statements is FALSE?
Interest Saved
The amount of money that is not paid as interest due to paying off debt earlier or negotiating better rates.
Savings Account
A deposit account held at a financial institution that provides principal security and interest earnings.
Rate of Return
An indicator of the profit or loss on an investment, shown as a percentage of the investment's original value, for a defined timeframe.
Initial Deposit
The first amount of money placed into an account or investment.
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