Question: Where is the word "penalty" found in the Bible?

Question: I am a concerned Christian from the “Open Brethren.” In your gospel message, you emphasize that salvation is based on the fact that Christ “paid the penalty for our sins.” Strong’s Exhaustive Concordance has no entry for “penalty,” nor did Jesus or the apostles ever mention that a penalty for our sins was paid. If I ask fellow Christians where to find this view in the Bible, they are either perplexed (because they don’t know the answer) or they imply that I am not saved. Since you use that statement so often in your gospel presentations, I pose that question to you. 

Response: Nor is the word “trinity” in either the Bible or in Strong’s, yet it is a basic teaching of Scripture. Was not the casting of Adam and Eve out of the Garden a penalty for their sin? Isn’t the death that came upon Adam and Eve and upon all of their descendants to this day also a penalty for sin—a penalty that would continue in eternal separation from God without His pardon? In declaring “the soul that sinneth, it shall die (Ezekiel:18:13Hath given forth upon usury, and hath taken increase: shall he then live? he shall not live: he hath done all these abominations; he shall surely die; his blood shall be upon him.
See All..., 20)…sin bringeth forth death (James:1:15Then when lust hath conceived, it bringeth forth sin: and sin, when it is finished, bringeth forth death.
See All...)…the strength of sin is the law” (1 Corinthians:15:56The sting of death is sin; and the strength of sin is the law.
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Does not a penalty have to be paid? Granted, the Bible nowhere uses the exact terminology we would today about Christ paying the penalty for sin. But isn’t that what is implied when it says, “He was wounded for our transgressions, he was bruised for our iniquities: the chastisement of our peace was upon him: and with his stripes we are healed” (Isaiah:53:5But he was wounded for our transgressions, he was bruised for our iniquities: the chastisement of our peace was upon him; and with his stripes we are healed.
See All...), or “Christ died for our sins” (1 Corinthians:15:3For I delivered unto you first of all that which I also received, how that Christ died for our sins according to the scriptures;
See All...,) or “that he by the grace of God should taste death for every man” (Hebrews:2:9But we see Jesus, who was made a little lower than the angels for the suffering of death, crowned with glory and honour; that he by the grace of God should taste death for every man.
See All...), as well as in many similar verses? If death is the penalty for sin and Christ died for all, then surely He paid the penalty in full for all of us, or we would have to pay that penalty ourselves. Our salvation is a matter of God’s justice, “that he [God] might be just, and the justifier of him which believeth in Jesus” (Romans:3:26To declare, I say, at this time his righteousness: that he might be just, and the justifier of him which believeth in Jesus.
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I don’t understand your objection to saying that the penalty was paid. Is not that the force of Christ’s triumphant cry from the cross, “It is finished! (Tetelestai!)” meaning “paid in full?” I am grateful that Christ paid in full the penalty for my sins so that God can be just in pardoning me, the sinner! There is no other means of salvation.