Vocab
An electronic banking outlet that allows users to perform financial transactions—such as withdrawing cash, checking balances, or depositing money—without needing a human teller
ATM
How much is 3 penny, 4 dimes and a nickle worth?
48 cents
What's the difference between a credit card and a debit card?
A debit card immediately deducts funds from your checking account, while a credit card borrows money to be repaid later
Change 0.4 to a percent.
40%
a secured loan used to purchase or borrow against real estate, where the property acts as collateral to protect the lender
Mortgage
Funds/Money remaining in a financial account (bank, credit card, or loan) at a specific time, representing either the total cash available or the total debt owed
Balance
I went to the grocery store and bought a frozen pizza for 10.99 and a salad mix for 5.99 how much did I spend altogether?
$16.98
What's the difference between employee and and employer?
An employee is an individual hired to perform work for compensation, while an employer is the person, business, or organization that hires, pays, and directs that worker
Change 0.03 to a percent.
3%
a fixed, predetermined amount of money or compensation paid regularly (e.g., annually, monthly, or biweekly) to an employee, regardless of the specific hours worked.
Salary
Regulated financial institution authorized to accept deposits, provide loans, facilitate money transfers, and offer financial services like currency exchange
Bank
$15.37
What's the difference between withdrawing money and depositing money?
Depositing money adds funds to a bank account, increasing the balance, while withdrawing money removes funds, decreasing the balance.
Find 20% of $54
$10.80
money paid by an employer to an employee for labor or services, usually calculated on an hourly, daily, or piecework basis
Wage
A financial plan estimating income and expenses over a set period (monthly, quarterly, or annually), used to allocate resources, manage cash flow, and achieve financial goals
Budget
I have 3 quarters, 5 dimes, 10 nickels, and 3 pennies, do I have enough to buy a $2 water?
No, you have $1.78
What's the difference between gross pay and net pay?
Gross pay is the total amount an employee earns before any deductions, while net pay is the actual "take-home" amount remaining after taxes, benefits, and other withholdings are subtracted
Find 18% of $60.35 (round to the nearest cent)
$10.86
a ratio representing parts per hundred
Percent
A bank deposit account designed for daily money management, allowing easy, frequent access to funds via debit cards, checks, electronic transfers (ACH), and ATM withdrawals
Checking Account
I went to the store and bought and spent $2.37, I gave the cashier, a $5 bill. What is my exact change back (how many dollars, quarter, dimes, etc.)?
$2.63
2 dollars
2 quarters
1 dime
3 pennies
What's the difference between voiding a check and endorsing a check?
Voiding a check cancels it to prevent payment, while endorsing a check signs it to authorize payment
$2.00
costs incurred for daily living, maintaining health, and pursuing personal, non-business-related activities.
Personal Expenses