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Money
Currency yous used to buy goods or services.
Bank Statement
A documentthat states how much yourend/ spent out of your acc.
Check Registry
A type of document that states payment dates, check #, amount and payee names for all checks.
Certificate of Deposit
A certificated handed out by the bank for depositing for certain time period.
Money Market Account
A type of a saving acc that could have depit and check prvilgeds.
Scarcity
Low on something.
Compound Interest
Compound interested is interested that gets compounded depending on how frequently your bank does it.
Simple Interest
a n easy way of cacultaed the instrest that will be charged on a laon.
Credit Card
A card that gives you access to the banks money but you will have to pay it back, builds credit.
Financial Institution
A company that is encahrged of money.
Bank
Financial insituation but is allowed to hand out loans and receive deposits .
Credit Union
Not for profits and are co owned by memerbs.
FICA
Get deducted each paycheck, goes towards funding federal programs.
Social Security
Get deducted from paycheck to give you financial stablifty when you retire.
Sales Tax
For every dollar there is a tax within it maryland is .06
Medicare
Gets deducted each paycheck, funds hospitals.
Medicaid
Gets decucted from paycheck funds to cover medical assistance to disabled, familes, and elderly
Property Tax
You pay while you file for taxes annually.
Tax Bracket
The taxed amount that is given that alligines for that income.
Income Tax
Tax you pay either monthly or end of year depending on how you set things up.
W-4 Tax Form
Filling this up as and employee helps the employer understand the employees status, and thus the employer can withhold a certain amount for deductions corrreclty.
W-2 Tax Form
The form gives you information that you can input into an online taxwebsite to help file taxes like turbo tax or talk to the person that helps you file for taxes.
1040 Tax Form
While filling up this file this person is able to determine if they are eligible for tax return or if they own more.
IRS
This organization was created to manage and collect taxes from all taxpayers.
Opportunity Cost
How much it will cost to achieve the end gain.