Financial Literacy Vocabulary - 7 Math STAAR

a fixed percent of principal paid over a specific period of time

• Discount

• Simple Interest

• Deposit

• Expense

a percentage of the selling price of a good or service which is added to the price

• Sales Tax

• Income Tax

• Expense

• Withholding Tax

an estimate of income and expenses for a set period of time

• Liability

• Budget

• Withdrawal

• Expense

a reduction of the usual cost of something

• Discount

• Liability

• Rebate

• Withdrawal

something a person or company owes, usually a debt involving an amount of money

• Liability

• Deposit

• Expense

• Income Tax

a sum of money taken out of an account

• Deposit

• Expense

• Liability

• Withdrawal

money received, especially on a regular basis, for work done or from investments

• Receipt

• Expense

• Debt

• Income

a sum of money placed or kept in a bank account

• Deposit

• Withdrawal

• Simple Interest

• Income

an amount of money needed or used to do or buy something

• Withdrawal

• Liability

• Expense

• Income Tax

a sum of money loaned or invested on which interest is paid

• Simple Interest

• Budget

• Rebate

• Principal