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Financial Maths

Revision Semester 2024

QuestionAnswer
wage pay per hour
salary earnings for a year
annual yearly
fortnightly every 2 weeks
3/4 3 divided by 4
5% of 60 5 divided by 100 times 60
percent means out of 100
savings money you intentionally don't spend
deductions amounts or payments that come out of your pay
tax an amount you pay to the government to provide education, healthcare and other services
medicare the government health provider service
deposit putting money into
withdrawal taking money out of
50% 0.5
How many cents in a dollar? 100
How many weeks in a year? 52
How many weeks in a fortnight? 2
Which is better to save you money- compound or simple interest? compound interest
How many months in a year? 12
What is another name for a bank? Financial institution
What do we pay to protect the value of our cars and houses? Insurance
What do we call a plan for our money? Budget
What is it that lets us access and pay for items from our bank account? Debit card
What is like a loan that we can use to buy everyday items when we don't have any money in our account? Credit card
Created by: user-1897751
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