a benefit given to an individual, business, or institution, typically by the government
[hint (its one of these) :tax, loan, interest, subsidy, tariff]
What is a subsidy
100
Proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage
What is interest rate?
100
What age can money be taken out from retirement from a 401K?
What is 55 years old?
100
a bank account that earns interest
What is savings account?
200
When would someone have to start paying taxes for a 401K?
What is when you withdraw money from the account.
200
given in cash payment or tax reduction (hint:is a synonym for positive)
What is a benefit
200
Give an example of a tax deductible loan?
What are student loans; home interest loans
200
What is an individual retirement account that money grows tax free?
What is a Roth IRA?
200
This is an automated teller machine provided by your bank.
What is a ATM?
300
One way the taxes we pay benefits the government?
What is paying for social services such as medicaid.
300
a tax imposed on imported goods and services
What is a tariff
300
A relatively small amount of money lent at a high rate of interest on the agreement that it will be repaid when the borrower receives their next paycheck.
What is a payday loan?
300
A retirement account issued by public schools or government organizations.
What is a 403(B).
300
offer more rewards to members, and are more exclusive
What is a credit union
400
Danielle has saved $12,000 for her college expenses by working part-time. Her plan is to start college next year and she needs all of the money she saved. She plans to put this into a 529 college account. Would she pay taxes deferred or tax deductible?
What is tax deferred.
400
puts up more barriers from foreign competitors coming in.
saves small businesses.
can fix trade deficits
What are benefits of tariffs
400
A type of loan in which the borrower uses the equity of his or her home as collateral.
What is home equity?
400
When you pay taxes at a later date the account is tax...
What is deferred.
400
a certificate issued by a bank to a person depositing money for a specified length of time and you can't take it out.
What is a certificate of deposit (CD)?
500
What types of accounts are tax deferred?
A) IRA
B) Savings
C)401K
D) A&C
E) All of the aboe
What is D
500
This party is in favor of personal responsibility, individual achievement and does NOT favor giving out subsidies.
What is the republican party
500
Andy borrowed $12500 at 17.32% for 136 weeks. How much will he need to repay altogether?
What is $18 162.31
500
Which retirement account has a higher income?
What is Roth IRA
500
If you head to the bank and deposit $225 in a savings account with an interest rate of 5% for 3 years, how much simple interest can you brag to your friends about?