Consumer Math Midterm review

The total of all sources of income before subtracting payroll deductions

gross income minus payroll deductions for income taxes and FICA taxes.

the amount an employee receives in a given pay period after required FICA tax and federal and state income taxes are deducted

the net pay minus any deductions the employee had authorized his employer to withhold and apply to such items as savings accounts, retirement funds, or insurance.

This is subtracted from a worker's gross pay. They include federal and state income taxes and the FICA tax.

(a)  

This type of card gives you access to ATMs, but also allows you to make purchases wherever Visa or Mastercard are accepted. With this card you can only spend as much money as in your account.

This type of card is a delayed payment device that acts as a pre-arranged loan. Some of these cards have annual fees, finance charges, and interest rates. People can often fall into debt with these cards.

What is the 1st step to purchasing a car?

What is the 2nd step to purchasing a car?

What is the 3rd step to purchasing a car?