Just call us Bond. Amortized bond.
Over 700 finance terms, Shmooped to perfection.
A type of account that has more than one owner.
Each owner puts in a certain amount of money, and the amount of money they share in the account is based on this investment. If we put in twice as much as you, our share is twice what yours is. If one of the owners dies, their share of the money goes to their estate, not to the other account owners.
(Yeah, put the baseball bat down.)