AMDM Unit 6 Vocabulary Quiz

Bank holds your money and you withdraw to pay bills

• Checking Account

• After-tax income

• Withdrawal

• Certificate of Deposit

Your pay minus government charges

• Checking Account

• After-tax Income

• Withdrawal

• Certificate of Deposit

Taking money out of your account

• Checking Account

• After-tax Income

• Withdrawal

• Certificate of Deposit

Investment paying interest on principal for set amount of time

• Certificate of Deposit

• Withdrawal

• After-tax Income

• Checking Account

Calculating interest on principal and earned interest

• Gross income

• Salary

• Simple interest

• Compound interest

Money earned on principal only in an investment

• Simple interest

• Compound interest

• Salary

• Gross income

Money paid regardless of how many hours are worked

• Gross income

• Simple interest

• Salary

• Compound interest

Total amount of money paid an employee

• Salary

• Compound interest

• Simple interest

• Gross income

Government charges for money earned

• Initial Value

• Income tax

• Future Value

• Savings Account

Investment's worth after a set amount of time

• Savings Account

• Income Tax

• Future Value

• Initial Value