Instructions: Identify the Following

question 46

Short Answer

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Fair Labor Standards Act

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Definitions:

Compounded Semi-annually

Interest calculation method where interest is added to the principal twice a year, allowing the interest to grow faster than simple interest.

Savings Plan

A systematic approach to setting aside funds to reach financial goals.

Investments

Funds committed into various financial instruments or assets with the expectation of generating income or profit.

Compounded Monthly

Interest that is calculated on the principal and the accumulated interest every month.