2024 Unit 4.1

The monetary charge for borrowing money

• Interest
• Service Charge
• Loan Fee
• Principal

is the original amount of money that is borrowed, invested, or lent

• Deposit
• Principal
• Loan
• Interest

a document that details a person's current financial circumstances, their short- and long-term monetary goals, and their strategies to achieve those goals.

• financial plan
• savings account
• investment portfolio
• budget report

a spending plan based on income and expenses

• expense tracker
• financial report
• budget
• savings plan

What is the term used to describe the money you earn from a job before any deductions are taken out?

• Net Income

• Gross Income

• Total Revenue

• Disposable Income

Tags

DOK Level 1: Recall

this type of expense stays the same each month

• fixed income

• variable expense

• discretionary expense

• fixed expense

expenses that change in cost and occurrence

• Variable expenses
• Irregular expenses
• One-time expenses
• Fixed expenses

the amount of money left after taxes and other deductions are taken out of a paycheck

• gross pay
• taxable income
• take-home pay
• net pay

a fixed amount of money agreed every year as pay for an employee

• bonus
• wage
• salary
• commission

Pay that is based on the amount of hours worked

• Flat rate payment
• Commission-based pay
• Wage

• Salary based on performance