Consumer Math Final Review

Consumer Math Final Review

June 2021

What You Learned About This Year:

• Making & Managing Your Budget

• Earning a Paycheck

• Banking & Saving

• Cash or Credit

• Housing

• Buying Food & Personal Items

• Owning a Vehicle

Making & Managing Your Budget

• Needs vs. Wants

• Fixed Expense vs. Variable Expense

• Balanced Budget

Multiple Choice

What is the total of Richard's monthly expenses?

• $1,375

• $475

• $990

• $2500

Multiple Choice

How much does Richard spend on rent each year?

• $5700

• $475

• $2850

Earning a Paycheck

• Yearly, Monthly & Weekly Salary

• Overtime & Commission

• Gross Pay vs. Net Pay

• Finding a Percent

• Health Insurance & Retirement

Multiple Choice

Maria works in the personnel department at a larger company. She earns $13.50 per hour and works 35 hours per week. What is her yearly salary?

• $472.50

• $420

• $24,570

• $162

Multiple Choice

Frank works as a messenger. His yearly salary in $19,500. What is his monthly salary?

• $234,000

• $375

• $1,625

Multiple Choice

Nancy started her shift at 7 a.m. and finished at 3 p.m. She took a one-hour lunch break. How many hours did she work?

• 4 hours

• 6 hours

• 7 hours

• 8 hours

Banking & Saving

• Checking Account & Savings Account

• Deposit vs. Withdraw

• Check Register & Bank Statement

Multiple Choice

Kate bought a Series EE Savings Bond with a face value of $500. How much did she pay for the bond?

• $500

• $250

• $100

• $1000

Multiple Choice

Ava has a checking account. She wrote 14 checks this month. Her first 8 checks are free but after that each check costs $0.50. She also has a $9 monthly service charge. How much were her bank fees this month?

• $12

• $9

• $2

• $20

Multiple Choice

The balance on Lynn's bank statement was $629. She made a deposit of $115 that wasn't listed on her statement. What is the adjusted balance?

• $629

• $700

• $514

• $744

Cash or Credit

• Annual Percentage Rate

• Unpaid Balance & Monthly Statement

• Loans

• Fees & Interest

Multiple Choice

The previous balance on Nick's credit card was $375. His statement shows he charged $118 and returned an item for a credit of $35. The finance charge for the month is $6.75. Nick makes a payment of $55. What will his unpaid balance be?

• $375

• $214.75

• $409.75

• $493

Multiple Choice

Your monthly take-home pay is $1,400. Your monthly credit card payments are $217. What percent of your take-home pay is used for credit card payments?

• 21.7%

• 15.5%

• .15%

• 6.5%

Housing

• Rent & Buy

• Security Deposit

• Mortgage

• Down Payment & Closing Costs

• Furnishings & Appliances

• Finding Area for Paint & Flooring

Multiple Choice

Karl works as a mason. He earns $3,500 a month. What will Karl pay for rent each month if he spends 25% of his income on rent?

• $2,625

• $250

• $875

• $1,000

Multiple Choice

The apartment has a 12-month lease. If you move out early, you must pay rent for the remaining months. Susana moved out 3 months early. How much did she pay?

• $550

• $9

• $4,950

• $1650

Multiple Choice

If Jay earns $36,750 per year, how much money can he borrow for a house, according to the banker's rule? (Banker's rule is 2.5 times your income)

• $14,700

• $36,750

• $91,875

• $55,125

Multiple Choice

How much would a 20% down payment be if you were buying a house for $162,000?

• $32,400

• $129,600

• $50,000

• $3,200

Multiple Choice

If a rug originally cost $140 and is on sale for 25% off, how much will it cost?

• $35

• $105

• $115

• $140

Multiple Choice

How many square feet of carpet do you need to purchase for a room that is 15 feet long and 12 feet wide?

• 180 sq. ft.

• 27 sq. ft.

• 360 sq. ft.

• 100 sq. ft.

Buying & Preparing Food

• Balanced Diet

• Solving a Proportion

• Calories

• Food Labels

• Finding Unit Price

• Saving Money with Coupons & Comparing Prices

Fill in the Blanks

Fill in the Blanks

Fill in the Blanks

Multiple Choice

If you burn about 207 calories an hour playing volleyball, how many would you burn playing for 2.5 hours?

• 207 calories

• 414 calories

• 517.5 calories

• 520 calories

Multiple Choice

You have a coupon for $0.95 off the price of 2 boxes of cereal. If it sells for $3.29 a box, how much will it cost you to buy 2 with the coupon?

• $1.90

• $6.58

• $5.63

Multiple Choice

You buy the following items at the grocery store: bread for $2.59, cheese for $2.95 and eggs for $1.29.

If you give the cashier a $10 bill, how much change will you receive?

• $3.17

• $6.83

• $16.83

• No Change

Buying Personal Items

• Needs vs. Wants

• Sales Tax & Shipping

• Sales & Advertisements

• Factory Outlets

Multiple Choice

A store owner buys soccer cleats at a wholesale price of $35 a pair. The markup is 75%.

What is the retail price?

• $26.50

• $8.75

• $70

• $61.25

Owning a Vehicle

• Car Price Guide

• Loans & Down Payments

• Reading Contract

• Leasing

• Car Insurance

• Car Maintenance