denomination. CDs are generally issued by commercial banks and are insured by the FDIC. The
term of a CD generally ranges from one month to five years.
Charitable Contributions - answer✔In general, [money given to] a charitable organization that
exists to benefit society as a whole rather than to enrich individual owners or shareholders.
Closing Costs - answer✔Closing costs are fees paid at the closing of a real estate transaction.
This point in time called the closing is when the title to the property is conveyed to the buyer.
Closing costs are incurred by either the buyer or the seller.
Co-signers - answer✔The act of signing for another person's debt which involves a legal
obligation made by the cosigner to make payment on the other person's debt should that person
default. Having a cosigner is way for individuals with a low income or poor/limited credit history
to obtain financing.
Collateral - answer✔Security pledged for the payment of a loan: He gave the bank some stocks
and bonds as collateral for the money he borrowed.
Commision - answer✔A service charge assessed by an investment advisor in return for providing
investment advice and/or handling the purchase or sale of a security. Also a percentage of the
money received from a total paid to the agent responsible for the business.
Comparison Shopping - answer✔Examining different brands or models of a product (to learn
about variations in quality, size, etc.), or the prices charged by different sellers (to learn about
possible cost-savings), before deciding what to buy.
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