Personal Finance

per hour rate

set amount per year regardless of  hours worked
[ie. NO overtime (OT) pay for overtime(OT) hours]

gross pay - deductions =

IRS

What is the job of the IRS?

tax form filled out when you start a job showing the number of dependants

What is the amount your employer takes out of your check?

What is the withholding amount your employer deducts based on?

What is the W2?

What is the name of the simplest tax form for filing taxes?

Under what circumstances can one file the 1040EZ?

conditions that allow you to exempt some income from taxation are called...

What is the original amount of $ saved, invested or borrowed called?

What is the percent (%) of principal to be earned called?

What does APY stand for?

What does APY (Annual Percentage Yield) mean?

If you deposit $1,000 and earn $30 after two years which amount is the principal and which amount is the APY/interest/yield?

What is the term for the ease with which an asset can be turned into cash without loss?

High liquidity = higher/lower APY

What is the name of the date on which an investment is finished or paid out?

What does  CD stand for?

What is a CD?

Longer time for Maturity = higher/lower APY

longer/shorter Maturity = higher APY

What kind of savings option has the highes liquidity?

What kind of savings option usually has the lowest interest rate?

What kind of savings option has the highest liquidity with the lowest interset rate?

What kind of account has a high balance requirement to avoid fees?

What is the minimun balance requirement for a Money Market Account?

What kind of interest rate does a Money Market Account have?

What does variable interest rate mean?

Money Market Account has ______liquidity and _____interest rate

What kind of savings option has a penalty for early withdrawal (before the maturity date) as well as low liquidity?

bigger CD = higher/lower APY

What kind of savings option gaves you a higher APY for a larger principal?