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

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