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GSE Unit 11 Vocabula

GSE Unit 11 Vocabulary Review

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
Created by: jpkelley