Banking and Saving

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Across
  1. 3. Completed by the employee and used by the employer to determine the amount of income tax to withhold
  2. 6. math formula that determines the number of years needed to double your money at a given interest rate
  3. 9. people buy health insurance to help them pay for medical expenses like going to the doctor, prescription drugs or surgery
  4. 13. the smallest amount you are required to pay a lender each month on a debt
  5. 14. people have homeowner’s insurance so they will have the money to fix or replace their home and its contents
  6. 18. things you pay money for - both needs and wants
  7. 19. IRS tax forms are used by taxpayers and tax exempt organizations to report financial information to the internal revenue service (IRS)
  8. 23. An action taken to lessen tax liability a maximize after tax income
  9. 24. a loan that enables people to buy something now and to pay for it in the future
  10. 25. Take money out of an account
  11. 27. a small booklet comes with your checkbook and gives you record sheets that so you can keep track of all the deposits, ATM withdrawals, and checks you write
  12. 28. balancing means to account for all money that came into and went out of your account, so that at the end of the month you and your bank statement agree
  13. 29. a type of investment that requires you to invest money for a certain length of time and guarantees the same rate of return (interest) for that entire time
  14. 34. this insurance helps you pay for damage you cause as a result of an accident to people or property, medical expenses you may have and the cost of fixing your car.
  15. 35. The charge for the use of borrowed money
  16. 36. Money owed to taxpayers when their total tax payments are greater than the total tax
  17. 37. how quickly an asset (any item of value that you own) can be turned into cash.
  18. 38. Used to provide medical benefits for certain individuals when they reach age 65
Down
  1. 1. to put money into a bank or investment account
  2. 2. This is a score or grade that credit companies assign to you based on how you handle your money and pay your bills.
  3. 4. Provides benefits for retired workers and their dependents as well as for a disabled workers and their dependents
  4. 5. Money, goods, services, and property a person receives that must be reported on a tax return
  5. 7. insurance is a type of plan that can help protect you from an event in life that costs a large amount of money
  6. 8. The federal agency that collects income taxes in the US
  7. 10. The rate of interest being charged for a loan over a years time. The APR rate includes interest, transaction fees, and service fees
  8. 11. A system of compliance that relies on individual citizens to report their income freely and voluntarily
  9. 12. A refundable tax credit for low and medium income individuals and couples
  10. 13. usually refers to the money borrowed from a lender to buy a house; the borrower makes payments on the loan each month until the entire loan, along with interest, is paid in full.
  11. 15. hanging onto your money for a future use instead of spending it
  12. 16. a record of your borrowing and paying habits
  13. 17. Taxes on income, both earned and unearned
  14. 20. Allows a certain amount of income or other value to be legally excluded to avoid or reduce taxation
  15. 21. A failure to pay or a deliberate underpayment of taxes
  16. 22. Include social security and medicare taxes
  17. 26. this plastic card looks like a credit card, but it is used to withdraw money from a savings or checking account
  18. 30. The federal government levies a tax on personal income
  19. 31. the next best alternative that is given up when a choice is made
  20. 32. Money or goods you owe
  21. 33. a bank account that pays you interest for keeping your savings in it