Ionic Compound: An ionic compound is a chemical compound composed of ions held together by electrostatic forces. In the case of silver nitrate, it consists of Ag+ (silver) cations and NO3- (nitrate) anions.
Precipitate:A precipitate refers to the solid formed when two aqueous solutions react and produce an insoluble product. In the reaction between silver nitrate and magnesium iodide, a precipitate forms.
Solubility Rules:Solubility rules are guidelines that determine whether or not a substance will dissolve in water. These rules are useful for predicting if a precipitate will form in a given reaction.