Unit 3 & 4 Test Review

2. The ability to borrow money or access goods and services now with the promise to repay later.
3. Loan, A loan not backed by collateral, relying on the borrower’s creditworthiness.
5. The original amount of money borrowed or invested, not including interest.
6. Money given for education or other purposes that does not need to be repaid.
7. Income, Total income earned before taxes and deductions.
13. Income, The portion of income subject to income tax after exemptions and deductions.
16. Financial aid awarded to students based on merit, talent, or specific criteria that does not need to be repaid.
18. Credit , Credit paid back in regular, fixed payments, like a car loan or mortgage.
19. History, A record of whether a borrower has paid bills or loans on time.
20. Income, Income left after taxes and deductions; also called take-home pay.

1. Payments made by a corporation to shareholders from profits.
4. Gains, Profit earned from selling an asset for more than its purchase price.
8. Credit, Credit that can be used repeatedly up to a limit, like a credit card.
9. The cost of borrowing money or the earnings on money saved or invested.
10. Money earned by an employee based on hours worked.
11. Score, A numerical rating of a person’s creditworthiness based on their credit history.
12. The stage of life when a person stops working full-time and lives off savings, investments, or pensions.
14. Money borrowed that must be repaid, usually with interest.
15. Fixed regular payment for work, usually paid monthly or annually.
17. Loan, A loan backed by collateral, such as a car or house.