Financial Literacy Vocabulary 4th grade

money that is earned from work, business, or investments

to use money to pay for something

Sarah sells cupcakes for $2 each, each cupcake costs $1 to make. What's the profit for 50 cupcakes?

My Phone Bill is a variable expense

Which is a variable expense?

The E in PIE stands for what?

Deposit is to put money into a bank account for spending

an expense that does not change from time period to time period

A place where your money is kept safe for saving is in a Checking Account

To put Money aside

money that is made in a business after all the costs and expenses are paid

Labor is to..

the act of taking money out of a bank account

An financial institution where you can keep your money safe

In which of these situations is a financial institution a borrower?

a bank account that keeps your money safe for the future

the amount of money paid by the borrower to the lender for the use of the money loaned to them

Which is an advantage of you putting your money into a savings account at a financial institution?

My mortgage is a fixed expense

to take and use with the promise to pay it back

to give money with an agreement that it will be paid back

Being Charitable is to give money and expecting it to be returned

Which statement is NOT true about a bank?

an arrangement for a deferred payment on a loan or purchase

Regina has $800 on her credit card She is charged $16 interest per $100 What is the total amount she has to pay back?

The I in PIE stands for what?

Giving is to give something away without expecting it to be returned

A cost that varies over time according to a number of factors

The P in PIE stands for what?

Willie borrows $700 from his bank. The bank charges $7 for every $100 borrowed. What is the interest?