Banzai Plus: vocabulary questions with answers 2023

Banzai Plus: vocabulary questions with answers 2023Exemption A deduction that legally allows you to lower the amount of taxable income you made in a year. Claim A request submitted to your insurance provider to help pay for covered expenses APR The abbreviation for annual percentage rate Net Income Your total income after all taxes and withholdings are paid. Policy A document detailing the type and amount of coverage that your insurance offers Down Payment An amount paid before a large purchase that reduces the loan amount, and also proves your intention and ability to make such a purchase. Expense Anything that you spend money on, whether it's a necessity or a luxury Credit Score A number assigned to an individual that quantifies their ability to use and pay back credit. Withholdings The amount deducted from your paycheck by your employer to go toward paying things like federal and state taxes, social security taxes, and health insurance Gross Income Your income from any and all sources, before taxes are withheld. Lease A contract that lets you use someone else's property for a specified rate and length of time. Amortize Paying a loan off in installments, rather than one lump sum. Insurance A service that provides protection against unpredictable events, like car accidents or broken arms. Net Worth The amount that you own in assets minus the amount you owe in liabilities. Deductible The amount of money you're responsible for paying before your insurance company will cover claims