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Tuesday, May 06, 2008

FINANCIAL VOCABULARY




The words below are all related to some kind of payment. Pay close attention to the differences and learn how to properly use them.



CHARGE: amount of money paid for something. It can be used as a noun or verb.
- You don't have to worry about the charges. I got them all covered.
- The phone company charged me $1oo for a thirty-minute local call.

FEE: amount of money paid for a service.
- I will not study at that school because their fees are too high.
- Jack paid a forty-dollar fee to have his contract signed by an official.


RATE: 1. amount of money paid for a room at a hotel. 2. number / percentage indicator.
- How much is the daily rate?
- The rate of unemployed people has decreased in SP.
- SELIC is an interest rate.

TAX: amount of money paid to the government.
- Everybody has to pay taxes.
- Income taxes are deducted from your salary before you get it.


FARE: amount of money paid for transportation.
- I don't know how much a bus fare is in Sorocaba.
- Internet air fares are usually lower than the ones we check at travel agencies.


PRICE: amount of money paid for a product.
- Prices will probably go up next month.
- That store has such high prices.

TOLL: amount of money paid in order to do something, usually a privilege.
- You will have to pay a toll to take this highway.
- There is a toll that must be paid in order to cross the bridge.


Best wishes,
André