| A | B |
|---|
| net income | take home pay (after deductions) |
| annualy | occurs 1 time per year |
| benefits | Life Insurance, Health Insurance, |
| tax deductions | Federal, state, medicare |
| investments | Certificate of Deposit, Savings, Bonds, Stocks |
| credit | Money or assetts owed to be paid |
| principal | Initial amount |
| interest | Fee paid by the borrower |
| interest rate | Percentage of fee paid by the borrower |
| insurance | equitable transfer of the risk of a loss |
| deductions | money taken from your income |
| sales tax | Tax applied to purchases |
| debit | an increase in assets or reduction in liabilities |
| down payment | cash payment made representing a percentage of the total amount to be paid towards a purchase |
| finance charge | fee representing the cost of credit |
| late charge | charge levied on an account for a payment that is either made late, or is not made |
| lease | a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset |
| asset | anything of value (house, car, etc) |
| inflation | inflation is a rise in the general level of prices of goods and services in an economy over a period of time |
| stocks | residual assets of a company can be bought and sold |
| ballon payment | a large final payment due at the end of a mortgage loan |
| gross income | Money you are actually paid before deductions |
| daily periodic rate | occurs 365 times per year |
| weekly periodic rate | occurs 52 times per year |
| monthly periodic rate | occurs 12 times per year |
| quarterly periodic rate | occurs 4 times per year |
| semi-annually | occurs 2 times per year |
| certificate of deposit | an investment at an agreed rate over an agree time |
