Car Purchase
What does MSRP stand for?
Manufacturer suggested retail price
What is a Mortgage?
A loan you get from a lender to help pay for your home
What's an investment?
You put money into something and expect to grow the money
Is net payment the money you get before deductions or after deductions?
After deductions
What are taxes used for?
To support the public services
What is the chunk of money you first give to the bank when buying a car?
A down payment
What is paying someone to stay in a house or apartment?
Rent
Is a car usually a good investment?
Yes because although you don't get money back, it gives you transportation you need to get anywhere like a workplace or school
A pay stub
Where does the government take taxes from?
From your paycheck and everything you buy
What is the biggest benefit of buying a used car?
It is a lot cheaper
What is the average time it takes someone to pay a mortgage?
25-30 years
What are Stocks?
Shares of a company
What does YTD stand for?
Year to date
What is the tax you pay based on how much money you make?
Income Tax
What is the difference between leasing and financing a car?
Leasing is monthly payments to drive it but not own it. Financing is making monthly payments to own it.
What does FHP stand for?
First-time homebuyers program
Why is investing in stocks risky?
You could lose all your money.
What is the money you get before you get deductions?
Gross Pay
What is the tax rate percentage on food in NL?
15%
What is the likely finance rate for a new car in NL?
Around 6%
What is the average mortgage rate for a house in NL?
Around 6%
What is a guaranteed return on investment?
An investment that you can't lose money on
After you write the amount of money on a cheque, what do you write after it?
A line then XX
What does GST stand for?
Goods and Sales Tax