7th Grade Math STAAR Review

Front

What is net worth?

Back

Net worth is the total value of an individual's assets minus their liabilities. It represents what a person owns minus what they owe.

Front

How do you calculate net worth?

Back

Net worth = Total Assets - Total Liabilities. For example, if you have assets worth $115,000 and liabilities of $93,300, your net worth is $21,700.

Front

What is sales tax?

Back

Sales tax is a tax imposed by the government on the sale of goods and services, usually calculated as a percentage of the purchase price.

Front

How do you calculate change from a purchase?

Back

Change = Amount Paid - Total Cost. For example, if you pay $10 for a meal costing $6.44, your change is $3.56.

Front

What is simple interest?

Back

Simple interest is calculated on the principal amount only, not on the interest accrued. It can be calculated using the formula: Interest = Principal x Rate x Time.

Front

How do you calculate interest earned in one year?

Back

Interest = Principal x Rate. For example, if you invest $300 at 4% interest, the interest earned in one year is $12.

Front

What is a quarter in terms of money?

Back

A quarter is a coin worth 25 cents in the United States.

Front

How do you set up an equation to solve for an unknown?

Back

Identify what you know and what you need to find. For example, if you need $1.50 in quarters and have $0.75, you can set up the equation: 1.5 = 0.25q + 0.75.

Front

What are complementary angles?

Back

Complementary angles are two angles whose measures add up to 90 degrees.

Front

What are supplementary angles?

Back

Supplementary angles are two angles whose measures add up to 180 degrees.