A Certificate of Deposit (CD) is a type of savings account that carries a specified minimum deposit and term, typically offering a higher yield compared to regular savings accounts.
An impound account, also known as an escrow account, is a type of savings account set up by a mortgage lender to pay property taxes and insurance premiums on behalf of the borrower.
The Rate of Return is the percentage gain or loss on an investment relative to its cost, offering a snapshot of the investment's profitability.
