vocab words

Question 1

salary definition

Answer 1

fixed compensation paid regularly for services

Question 2

gross income

Answer 2

all income derived from any source except for items specifically excluded by law

Question 3

net income

Answer 3

the balance of gross income remaining after all allowable deductions and exemptions are taken

Question 4

minimum wage

Answer 4

the lowest wage paid or permitted to be paid

Question 5

overtime

Answer 5

time in excess of a set limit: such as

Question 6

atm debit

Answer 6

technology tht sends money from ur bank

Question 7

credit/credit card

Answer 7

purchases on credit

Question 8

credit limit

Answer 8

the most money u can get for a loan

Question 9

credit rating

Answer 9

ur grade or score on loans

Question 10

account balance

Answer 10

how much money in ur bank acc

Question 11

principle

Answer 11

the important thing

Question 12

interest

Answer 12

how much someone profits

Question 13

debt

Answer 13

how much u owe

Question 14

checking acc

Answer 14

a bank someone can deposit from checks

Question 15

saving acc

Answer 15

an acc interest is paid

Question 16

401(k)

Answer 16

retirement acc

Question 17

apr

Answer 17

annual percentage rate

Question 18

mortgage

Answer 18

loans u have to pay off