Unit 5 Personal Finance

Monetary deposits secured for a later, undetermined use.

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

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

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

A thing that motivates or encourages one to do something.

A tax rate that increases as income increases.

A tax rate that decreases as income increases.

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

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.

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