Financial Vocabulary

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Across
  1. 2. How quickly an asset can be turned into cash
  2. 8. The next best alternative that is given up when a choice is made
  3. 10. amount taxpayers can claim for themselves, spouses, and dependents
  4. 11. Help pay for medical expenses like going to the doctor, prescription drugs, or surgery
  5. 14. An excise tax paid by consumers when they purchase gasoline.
  6. 15. Take money out of an account
  7. 20. The smallest amount you can pay to a lender each month
  8. 21. The rate of interest being charged for a loan over a year’s time
  9. 23. Things that you pay for- both needs and wants
  10. 24. The insurance that helps you pay for damage if you cause as a result of an accident to people or property. And vice versa
  11. 27. A failure to pay or a deliberate underpayment of taxes
  12. 28. The amount paid by a borrower to a lender
  13. 29. Money owed to the payer when their total tax payments are greater than the total tax.
  14. 30. An action taken to lessen tax liability and maximize income.
Down
  1. 1. Money or goods you owe
  2. 3. A plan that can help protect you from an event in life
  3. 4. The money borrowed from a lender to buy a house
  4. 5. A system of compliance that relies on individual citizens to report their income freely.
  5. 6. Federal agency that collects tax in the united states
  6. 7. Pays money to fix or replace their home and its contents. Damage can be done by fire or storms, or even a burglar.
  7. 9. Social security and Medicare taxes
  8. 12. A tax or credit for certain people who work, meet certain requirements, and have income under a specific limit
  9. 13. 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.
  10. 16. provides benefits for retiired workers and their dependents
  11. 17. A bank account that pays you interest for keeping your savings in it.
  12. 18. Account of all money that came into and went out of your account.
  13. 19. The federal government levies a tax on personal income. Provides for national programs.
  14. 22. Taxes on both income earned and unearned.
  15. 25. Math formula that determines the number of years you need to double your money at a given interest rate
  16. 26. Hanging on to your money for a future use