Unit 3 Terms

4. money earned before deductions
6. when money is owed
9. type of function that represents simple interest
10. perks of a job
11. type of function that represents compound interest
14. money is earned off accumulated amount
16. (plastic) item that lets you to make purchases and pay them off later, if not paid off finance charges are added to balance
17. pay is same amount per pay period, has benefits, no overtime
18. pay increased by 1.5% when hours worked exceeds 40
19. something you do now hoping worth is more in the future
20. type of retirement investment
21. the loan to purchase a house

1. a monthly plan that helps a person track expenses
2. pay is based of a percentage of sales, potential to make big money if a good salesperson
3. the four main are Federal, State, Medicare, and Social Security
5. money is earned only off the initial investment
7. pay is based on number of hours worked, overtime is possible
8. the amount something is worth today
12. money left after deductions (pay check)
13. the amount something is worth later on
15. a value that represents things like payment history, types of and amount of debt