Understanding Money Management Concepts

Front

A store sells a jacket for $80. If the sales tax rate is 7%, what is the total cost of the jacket including tax?

Back

$85.60

Front

If you have a bank statement showing a balance of $500, and you deposit $150 and withdraw $75, what will be your new balance?

Back

$575

Front

Which of the following best describes the difference between a credit and a debit in banking terms?

Back

Credit increases your account balance, while debit decreases it.

Front

If your gross pay is $2000 and your deductions total $500, what is your net pay?

Back

$1,500

Front

You buy items costing 45.75, 22.50, and 10.25. If you pay with a 100 bill, how much change should you receive?

Back

$21.50

Front

If you budget 200 for groceries each month and you spend 150, how much do you have left for the month?

Back

$50

Front

A product costs $120 before tax. If the sales tax rate is 5%, what is the total price after tax?

Back

$126

Front

Your bank statement shows a starting balance of $1,000. You have a credit of $200 and a debit of $150. What is your ending balance?

Back

$1,050

Front

Which of the following is an example of a debit transaction? Receiving a paycheck, Paying a utility bill, Earning interest on savings, Receiving a refund

Back

Paying a utility bill

Front

If you earn $15 per hour and work 40 hours a week, what is your gross pay for the week?

Back

$600