8th Grade Math: Unit 05 Flashcards

Front

A ________ is a set amount of money, or percentage of pay, that is set aside from an employee’s pay check by their employer, before the employee’s wages are taxed. The employer may or may not contribute as well to the employee’s fund depending on employer’s policy. The money is taxed when it is withdrawn at retirement age. In addition, if withdrawn prior to retirement age, an additional penalty tax is assessed.

Back

401(k)

Front

A ________ is a set amount of money, or percentage of pay, that is set aside from an employee’s pay check by their employer, before the employee’s wages are taxed. The money is taxed when it is withdrawn at retirement age. In addition, if withdrawn prior to retirement age, an additional penalty tax is assessed.

Back

403(b)

Front

A ________ is an educational savings account managed by the state, and is usually tax-deferred. Deductible and non-deductible contributions may be made, taxes may be waived if used for higher education.

Back

529 account

Front

Fill in the blank: An ________ is a set amount of money, or percentage of pay, that is invested by an individual with a bank, mutual fund, or brokerage.

Back

individual retirement account (IRA)

Front

Fill in the blank: ________ is the general increase in prices and decrease in the purchasing value of money.

Back

Inflation

Front

A ________ is a relationship with a constant rate of change represented by a graph that forms a straight line.

Back

linear relationship

Front

Fill in the blank: ________ is the process of pairing input and output in a function. Mappings are usually demonstrated by a diagram consisting of two lists, usually in ovals, with arrows associating items from the first list to items in the second list.

Back

Mappings

Front

Fill in the blank: The ________ is the original amount invested.

Back

principal of an investment

Front

Fill in the blank: A ________ is a set of ordered pairs (x, y) where the x is associated with a specific y.

Back

relation

Front

Fill in the blank: ________ are optional savings plans or accounts to which the employer can make direct deposits of an amount deducted from the employee's pay at the request of the employee.

Back

retirement savings