Q3 Key Vocabulary Test (ML)

A determination that you are a good credit risk.

• collateral

• credit worthy

Forms of employer compensation in addition to pay.

• Benefits

• Compressed Workweek

The income on which you will pay tax.

• Tax Evasion

• Taxable Income

A cash allowance awarded to a student to help pay education costs.

• Interest

• Scholarship

A fixed hourly rate earned by employees.

• Gross Pay

• Wage

An amount typically charged by an ATM that does not belong to your own bank.

• Share Account

• ATM Fee

The actual interest rate an account pays, stated on a yearly basis with the compound interest included.

• Annual Percentage Yield (APY)

• Subsidized Loan

A tax that takes a larger share of one's income as the amount of income grows.

• Progressive Tax

• Tax Evasion

A form of educational funding that is awarded based on financial need and that does not have to be repaid.

• Annual Percentage Yield (APY)

• Grant

An examination of income tax returns by the IRS.

• Tax Credit

• Audit