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Medicaid

a program financed by state and federal government tax revenues, to pay specified health care costs care for those who cannot afford them.


Medicare

a federal government program, financed by deductions from wages, that pays for certain health care expenses for older citizens. The Social Security Administration manages the program.


minimum payment

minimum amount that a consumer is required to pay on a revolving charge account in order to keep the account in good standing.


money market fund

a type of mutual fund that buys very short-term bonds and other loans in an effort to maintain its value at $1 per share.


mortgage

a long-term loan to buy real estate, that is, land and the structures on it.


mutual fund

an investment tool that pools the money of many shareholders and invests it in a diversified portfolio of securities, such as stocks, bonds, and money market assets.