final exam crossword

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Across
  1. 4. / a type of entity that is recognized by the IRS as being exempt from paying federal income taxes on its earnings
  2. 5. / the cost you pay to the lender for borrowing money to finance your loan, on top of the loan amount or your principal.
  3. 6. / a type of savings account offered by banks and credit unions.
  4. 10. /when you earn interest on the money you've saved and on the interest you earn along the way.
  5. 11. / a federal health insurance for people 65 or older
  6. 13. / the time of life when one chooses to permanently leave the workforce behind
  7. 14. / a federal program in the U.S. that provides retirement benefits and disability income to qualified people and their spouses, children, and survivors.
  8. 15. / the total amount of money available in a financial account
  9. 16. made before any taxes are paid on the amount
  10. 17. / occurring or happening every year or once a year
  11. 20. / the age at which you can begin to collect your full Social Security benefits.
  12. 21. / the date on which the life of a transaction or financial instrument ends, after which it must either be renewed or it will cease to exist.
  13. 23. / when you put money you've already paid taxes on into your 401(k) account to save more for retirement.
Down
  1. 1. / interest is added every three months, allowing the interest to earn additional interest more frequently
  2. 2. / happening or produced every six months or twice in each year
  3. 3. / if you have hit your retirement age and left your full-time job but still continue to work part-time.
  4. 7. / individual retirement account
  5. 8. / annual percentage yield
  6. 9. / You earn credits when you work and pay Social Security taxes
  7. 12. / interest is accumulated daily and is calculated by charging interest on principal plus interest earned daily;
  8. 14. /an interest charge that borrowers pay lenders a loan
  9. 18. / the baseline sum in financial transactions—the initial amount invested or borrowed.
  10. 19. / you don't pay taxes until you withdraw your funds, instead of paying them upfront when you make contributions.
  11. 22. / a U.S. federal payroll tax