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Opportunity cost - 🧠ANSWER ✔✔Represents the potential benefits that an
individual, investor or business misses out on
What is a budget? - 🧠ANSWER ✔✔An estimate of income and expenses
for a set period of time.A personal budget is a financial plan that allocates
future income towards expenses.
How to calculate medium house price? - 🧠ANSWER ✔✔The midpoint value
when all sold house prices in a specific area are ranked from lowest to
highest
, Interest Rate - 🧠ANSWER ✔✔The percentage of a loan or deposit amount
that is charged or earned over time.
Annual credit card fee - 🧠ANSWER ✔✔A yearly charge that some banks or
credit card companies apply just for owning and using the card.
Interest-free period - 🧠ANSWER ✔✔A period of time when no interest is
charged on a new purchase
Credit rating - 🧠ANSWER ✔✔A score or ranking that shows how reliable a
person is at repaying debt.
GST - 🧠ANSWER ✔✔Goods and Services Tax
Income tax - 🧠ANSWER ✔✔A tax that people and businesses pay to the
government based on the money they earn.
How to calculate tax? - 🧠ANSWER ✔✔1. TAXABLE INCOME FINAL
BRACKET
2. TAX TO BE CALCULATED IN FINAL BRACKET
3. TAX PAYABLE IN FINAL BRACKET
4. TAX PAYABLE FROM PREVIOUS BRACKETS