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SBMS Financial
Financial Literacy
Term | Definition |
---|---|
Income Tax | A government tax imposed on taxpayers that varies with the income or profits of the taxpayer |
Witholding Tax | The money that an employer deducts from an employee's paycheck and sends directly to the government |
Interest Rate | The proportion of a loan that is charged as interest to the borrower, typicaly expressed as an annual percentage of the outstanding loan. |