Consumer Math Midterm review

The total of all sources of income before subtracting payroll deductions

• disposable income

• gross income

• net-pay

• take home pay

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

• disposable income

• gross income

• net-pay

• take home pay

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

• disposable income

• gross income

• net-pay

• take home pay

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.

• disposable income

• gross income

• net-pay

• take home pay

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

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.

• Credit

• Debit

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.

• Credit

• Debit

What is the 1st step to purchasing a car?

• after the price of a car is agreed upon, negotiate the trade-in.

• select the car without revealing trade-in, cash, or borrowing details. Settle on a price before you discuss these things.

• discuss payment options.

What is the 2nd step to purchasing a car?

• after the price of a car is agreed upon, negotiate the trade-in.

• select the car without revealing trade-in, cash, or borrowing details. Settle on a price before you discuss these things.

• discuss payment options.

What is the 3rd step to purchasing a car?

• after the price of a car is agreed upon, negotiate the trade-in.

• select the car without revealing trade-in, cash, or borrowing details. Settle on a price before you discuss these things.

• discuss payment options.