1. The major difference between a 401(k) plan and a 403(b) plan is:
the number
A.) the fact that one earns interest and the other doesn’t
B.) the fact that one allows for matching contributions from your employer and the other doesn’t
C.) the fact that one allows you to put away money tax-free and the other doesn’t

2. How is the length of time calculated that it takes to double your money?
A.) by dividing the interest rate by the number of times it is compounded during the year
B.) by multiplying the principal by the interest rate
C.) by the rule of 72
D.) by multiplying the interest rate by the number of years that the interest is applied

3. With regard to savings, liquidity is a measure of:
A.) how quickly and easily you can get cash from your account
B.) how often interest compounds
C.) the size of the account’s principal
D.) an account’s return on your investment

4. The major difference between a traditional IRA and a Roth IRA is:
A.) the amount you are allowed to put in
B.) when you pay taxes on that money
C.) the interest earned

5. Interest that you earn on a savings account is:
A.) the money that you deposit that continues to grow as long as the account is active
B.) money that financial institutions pay you for the use of your money
C.) the balance in your savings account at the end of a certain period
D.) the money you must pay in order to keep a savings account active

6. Of the following types of accounts, which pays the highest total interest over time?
A.) one that offers interest that is compounded quarterly
B.) one that offers interest that is compounded daily
C.) one that offers interest that is compounded yearly
D.) one that offers simple interest

7. The type of investment that is similar to an IOU, usually to the federal government, is called a:
A.) bond
B.) certificate of deposit
C.) commission
D.) stock

8. If you invested ,500 in a very successful mutual fund (12% return a year), how long would it take for you to have a balance of ,000 in that account?
A.) 2 years
B.) 4 years
C.) 6 years
D.) 8 years

9. The type of investment in the following list that insures that you will not lose your money is:
A.) a stock
B.) a mutual fund
C.) a certificate of deposit

10. When you have your bank or another organization automatically take money out of your paycheck amount to put into savings or apply toward a bill, you are utilizing:
A.) direct deposit
B.) payroll deduction
C.) direct deduction
I did my own homework for Christ’s sake.
It just takes forever to get graded and I want to see how many I got right RIGHT NOW! lol

The federal government’s biggest single source of revenue is from
foreign aid.
loans from banks.
big business.
individual income tax.
2. Someone’s total income minus certain deductions and personal exemptions is that individual’s
taxable income.
gross income.
withholding income.
depdendent tax.
3. When the government’s borrowing is greater than its income, it creates a
national debt.
government securities’ risk.
withholding situation.
national taxable income.

Conservatives often point out that our corporate tax rates are the second highest in the world. However what they omit is the large amount of deductions and loopholes in the government, the IRS itself concludes that a quarter of corporations in the US don’t pay any corporate taxes at all. In effect even though the tax rate is lower in Ireland corporations pay more due to fewer deductions. Also European countries afford lower corporate tax rates by having MUCH higher taxes on income as well as employer funded entitlements. So are conservatives just misinformed that is it is cheaper to do business in Germany, or are they cherry picking the facts to starve the federal government yet again(by cleverly omitting the other taxes in Europe) and skirt the federal guidelines that are tied to the deductions?

Okay, I drive about 1800 miles a month on business calls. My company gives me about 12 cents a mile with a 0 allowance once a month, which comes out to about 26 cents a mile. The federal government gives 55 cents a mile, which over a year, would give me about 00 difference. Is this worth pursuing on next year taxes, or will it not be worth it because I don’t have any other deductions? My income before taxes last year came to about ,000. If you need any other details, then just ask.

This would be payable to the Federal Government. They would give each state and local government a percentage.This would eliminate all other taxes including local, state and sales.