Mid-Term Financial Algebra 2-2023

Front

What is the balance on 6/25?

Back

1,157.80

Front

What is a debit card?

Back

A debit card is the same as a check, only in a plastic form.

Front

What is the starting balance on this check register?

Back

4500.75

Front

Mr. Barrett bought a new battery for his car. The battery cost $72. Since batteries are a taxable item, he had to pay a sales tax of 7.5%. What was the total cost of the battery?

Back

$77.40

Front

The TV you bought was $900 and the sales tax was 10%. What was the total cost of the TV?

Back

$990

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price that is added to the total cost of a purchase.

Front

How do you calculate total cost including sales tax?

Back

Total Cost = Item Price + (Item Price x Sales Tax Rate)

Front

What is the difference between a debit card and a credit card?

Back

A debit card withdraws money directly from your bank account, while a credit card allows you to borrow money up to a certain limit.

Front

What is a check register?

Back

A check register is a record of all transactions made with a checking account, including deposits and withdrawals.

Front

How do you find the balance in a check register?

Back

Balance = Previous Balance + Deposits - Withdrawals