MMA Unit 5 Vocabulary Income, Taxes and Banking

How much you make per hour of work

• Hourly pay

• Overtime

• Salary

• Minimum wage

Tags

CCSS.6.RP.A.3B

Hours that you work past 40 hours a week.  (Pay is times 1.5 the normal rate.)

• Hourly pay

• Overtime

• Salary

• Minimum wage

Tags

CCSS.7.EE.B.4A

The minimum amount per hour that is allowed in a state or city.

• Hourly pay

• Overtime

• Salary

• Minimum wage

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

A set amount that you make per year.

• Hourly pay

• Overtime

• Salary

• Minimum wage

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

A percentage of sales.

• Commission

• Investments

• Profits

• Salary

Tags

CCSS.6.RP.A.3C

You can make money with the money you have saved in the form of interest.

• Commission

• Investments

• Profits

• Salary

Tags

CCSS.6.NS.B.3

Money that a company makes beyond its expenses can be distributed to owners or stockholders.

• Commission

• Investments

• Profits

• Salary

Tags

CCSS.6.EE.B.6

A set amount that you make per year.

• Commission

• Investments

• Profits

• Salary

1.4% of gross pay.  Medical coverage for those over 65.

• Medicare Tax

• Social Security Tax

• Federal Income Tax Withholdings

• Savings/Retirement 401(k): 

Tags

CCSS.7.RP.A.3

6.2% of gross pay.  Small retirement payments for those over 65.

• Medicare Tax

• Social Security Tax

• Federal Income Tax Withholdings

• Savings/Retirement 401(k): 

Tags

CCSS.6.RP.A.3C