Random
TRUE
The form we fill out when hired at a new job to let them know how much taxes we want taken out of our check.
W-4 form
We get these forms from our jobs around January to begin the tax return process. This forms are called ____.
W-2
TRUE/FALSE : The S&P 500 is the list of the lowest performing 500 companies on the stock market.
FALSE
the amount of liability protection offered to an individual through an insurance policy
Coverage
What is the decimal we can also use for the situation:
455 students out of 900 had a part time job last year.
(round to the nearest hundredth - 2 decimal places)
0.51
List 3 public resources paid for by tax dollars.
Roads, sidewalks, parks, fire department, police station, public health services, etc...
A fee paid for insurance coverage (paid monthly, annually, semi-annually)
What is the key factor that helps compound interest/growth work the way we want it to?
Time
A legal responsibility for the financial cost of another person's loss of injuries
Liability
1. Does she owe or is she getting a refund?
2. How much?
Refund of 2,500
Explain the difference between Net Income and Gross Income.
Net : money we take home (after taxes)
Gross : money earned (before taxes)
the amount of money you will pay out of pocket before the insurance company will make a payment
Deductible
Never ______ in something you don't ________.
finance / invest / understand / enjoy
INVEST / UNDERSTAND
You are in a car accident and have $20,000 in bills total - your deductible is $5,000 and your insurance covers $10,000 in this incident.
How much money is LEFT to pay? WHO pays the remaining?
$5,000 left - YOU pay
A tree hits your house causing $1500 damage. Your deductible is $400 and your insurance covers $900. How much do YOU have to pay TOTAL?
400 + remaining 200 = 600 total
Kiki receives a paycheck for 20 hours at a pay $25 per hour. She had $145 taken out of her check due to taxes.
What is her gross pay?
What is her net pay?
Gross : $500
Net : $355
Insurance that covers other person and car caused by a vehicle accident for which you are responsible
(collision / liability / personal protection / uninsured motorist / comprehensive)
Liability
Agatha set up a spreadsheet with a list of her stock investments. She recorded her purchase price per share and the number of shares she’d bought of each asset.
What new data would she need in order to determine the return on investment for her entire portfolio?
The price per share for each of her investments the day she wants to sell (today)
A form of financial protection that eases the financial burden people may experience as a result of illness or injury
Health Insurance
Emily deposits $200 into an investment account that doubles at the end of every decade. How much will Emily have at the end of 3 decades?
(200 is NOT the first decade)
$1600
Explain the difference between wage and salary.
Wage : fixed per hour amount
Salary : fixed pay for the year regardless of hours
FICA taxes includes : _________ & _________
Social Security & Medicare
Choosing different types of companies Century Link, Comcast, Mcdonalds, etc to protect yourself when investing. We call this ______________.
What is diversifying / diversification
A ____ deductible means lower premiums.
High