Buying a Home
A formal request to buy a home
What is an offer?
Another term for 'renting' a car
What is a lease?
Someone who works on your behalf to help purchase a home
What is an agent?
YTD on a pay stub represents the money made from what time frame?
The overall amount of money you make before taxes are taken out
What is gross pay?
Owner of a house you a renting
What is a landlord?
The term to reflect the amount you pay on insurance each period
What are premiums?
The purpose of drawing a straight line across from the written dollar amount on a cheque
What is to prevent forgery?
An account you would use to accumulate money over time
What is savings account?
The taxes that pay for sideroads, pole lights and potholes would be: municipal or federal?
What is municipal?
An interest rate that does not change throughout the duration of your mortgage
What is a fixed rate?
The amount you pay out on an insurance claim regardless of how much insurance you have
What is deductible?
Items that are owned by an individual such as a house and a car
What are assests?
When you earn interest on top of your interest in a savings account
What is compound interest?
True or false - all working Canadians pay taxes
False - students are not required to pay taxes
A signed contract stating how long you will rent a home
What is a lease?
The decrease of the value of a vehicle over time
What is depreciation?
The money taken out of your earnings by the government to pay for services and fees
What are taxes?
Electronic currency is known as
What is Crypto-currency?
The money you get back from the government if your income tax indicates that you have paid too much taxes
What is a rebate?
The amount you owe on a mortgage once the down payment is made.
What is the principle?
If you purchase a vehicle through a dealer it is called
What is financing?
The amount you earn AFTER deductions are taken out (Your take home pay)
What is net pay?
When the money you earn goes directly into your bank account
What is direct deposit?
If you make $100,000 you will most likely take home
A)$85,000
B) $75,000
C) $65,000
What is C?