Archives

• COMPOUND INTEREST

  Interest that is computed on the principal and on the accrued interest. Compound interest may be computed continuously, daily, monthly, quarterly, semiannually or annually.

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• COMMUNITY PROPERTY

  State laws vary, but generally all property acquired during a marriage — excluding property one spouse receives from a will, inheritance or gift — is considered community property, and each partner is entitled to one half. This includes debt accumulated. There are currently nine community property states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.

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• CERTIFIED PUBLIC ACCOUNTANT (CPA)

  A professional license granted by a state board of accountancy to an individual who has passed the Uniform CPA Examination (administered by the American Institute of Certified Public Accountants) and has fulfilled that state’s educational and professional experience requirements for certification.

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