Method of Payment
Physical money (bills and coins)
Cash
Currency that can be traded for goods and services
Money
The percent of tax on most things you buy
13%
To make money is to ________ money
Earn
Buy now, Pay later
When you make money based on the money you have in a savings account
Interest
You buy a new shirt for $10 +tax. How much does the shirt cost?
$11.30
You have $100 in an account and you make 20% interest. How much money do you gain?
$20
Written on paper and given to another person
Cheque
The money you borrow from the bank for a specific purpose
You buy groceries that cost you $26.00 before tax. What is the total after tax?
$29.38
Two things you can do to make money
*Answers may vary
- shovel snow
- babysit
- sell things you don't use
Sent directly from your bank account to someone else
E-transfer
Keeping money to be spent at another time
Saving
You are buying new clothes and the total before tax comes to $45.99. What is the total after taxes?
$51.97 ($51.9687)
You have $2500 in a savings account and the bank gives you 15% interest. How much extra would you get?
$375