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Consider depositing $350 into a bank account today. The interest rate is 6% per year, and it is paid annually. After four years, the future worth of the $350 is $441.87.
Money kept in a bank is referred to in the financial lexicon as a deposit. A depositing is a transaction in which money is transferred to a different party for safekeeping. Yet another definition of a deposit is a sum of money used as security or collateral for the delivery of a good.
There are two definitions for a deposit. One type of deposit entails transferring money to a different party for safekeeping. According to this definition, a depositing is cash added by an investor to a savings or checking account kept at a bank or credit union.
In this case, the money that was deposited remains the property of the person or organization that made the deposit, and that person or organization is free to take the money out at any time.
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