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GSE Unit 11 Vocabula
GSE Unit 11 Vocabulary Review
Term | Definition |
---|---|
commission – | money earned as a percentage of a sale or service |
income – | money received from work, investments, or other financial support |
minimum wage – | the lowest wage permitted by law; in the U.S., $7.25 an hour |
mortgage – | house (loan) payment |
wage, salary – | terms for one’s work-related financial earnings |
budget – | a plan for spending and saving one’s income |
expenses – | financial obligations, such as bills |
savings – | money set aside for later use or in case of emergencies |
debt – | money owed |
saving – | setting money aside for later use or in case of emergencies |
credit – | a loan of money |
interest – | a percentage of a borrowed sum of money which must be paid in addition to the repayment of the loan itself |
lender – | an individual, bank, or company who loans money |
liquid – | money which one has on-hand that can be freely spent |
loan – | a sum of money given for designated period which must be repaid |