Quarter 1
Fill in the blank: ____________ is the income in which you actually pay tax.
Taxable Income
Fill in the blank: ______________ is what the bank pays you just for keeping money in an account.
Interest Earned
What is typically offered in a Installment plan?
Down Payment and Monthly payments
Fill in the blank: ___________ are a written promise to repay the money loan on the due date.
Bonds
Name four teams in the NCAA tournament this year
UCONN, Houston, Duke, Kentucky, etc.
Fill in the blank: __________ is the tax rate is the same for every person, regardless of the amount of income they earn in a year.
Flat tax
Fill in the blank: ______________ a check that the bank has paid and then marked it so it can’t be used again.
Canceled Check
When interest is collected in advance on a loan, what do we define that as?
Bank Discount
Fill in the blank: The interest for the first three months on a bond is called _________
Accrued Interest
Tell an egg-celent joke
What do you call an unconventional Easter egg?
What is the value of three exemptions?
$9000
The number you find within the compound interest table is called what?
Multiplier
When calculating the interest on a Rule of 78 loan, what “monthly rate” would use for calculating the second month’s interest?
11/78
When is bond interest typically paid?
Semiannually
Who built the first train?
Richard Trevithick
What is the Medicare tax rate?
1.45%
What is the effective rate of interest referred to as?
Annual Percentage Yield
What Act was created to force lenders to tell borrowers what annual rate is actually being charged on their loan?
Truth in Lending Act
When calculating Interest using the equation PRT = I, what does the par value replace in the following equation?
Principal
What NCAA men's basketball team won the most championships?
UCLA
What is Take Home pay also referred to as?
Net Pay
What dates are interest typically paid on?
January 1st, April 1st, July 1st, and October 1st
Fill in the Blank: An ______________ is an agreement to pay the unpaid balance.
Installment Contract
When you buy a bond, what additional item do you have to pay for other than just the market price?
Interest the bond has earned from the last interest date
What type of flower is in the picture?
Alpenrose