Unit 5 Personal Finance

Monetary deposits secured for a later, undetermined use.

• Savings

• Investment

• Interest

• Bank

Money used with the expectation of some future return or benefit.

• Savings

• Investment

• Credit

• Interest

Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.

• Savings

• Investment

• Interest

• Credit

A business where people deposit and withdraw their money and borrow money.

• Bank

• Mutual Fund

• Credit Number

• Mortgage Firm

A thing that motivates or encourages one to do something.

• Interest

• Credit

• Banks

• Incentive

A tax rate that increases as income increases.

• Progressive Tax

• Regressive Tax

• Proportional Tax

A tax rate that decreases as income increases.

• Progressive Tax

• Regressive Tax

• Proportional Tax

Is a tax system where the same percentage of tax is levied on all taxpayers, regardless of their income.

• Progressive Tax

• Regressive Tax

• Proportional Tax

Allows a person or business to pay a relatively small amount of money in the present to purchase protection against the possibility of a future financial loss caused by an unforeseen event.

• Compound

• Fixed Rate

• Deductible

• Insurance

The amount of money the insured must pay when a claim is filed with the insurance company.

• Assesst Protection

• Deductible

• Shared Liability

• Premium