Money Dictionary - Office of Financial Empowerment

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Grace Period		This is the time between the date of a purchase and the date the company starts charging you interest on it. For example, if John buys a TV with his credit card on January 1 and he doesn't have to pay his credit card bill until January 25, he has a grace period of 25 days.

Gross Pay		Gross pay is the total dollar amount earned during a pay period before taxes and other deductions are withdrawn.

OFE's Reference List for Money Dictionary