April 4 Exit Ticket

April 4

Exit Ticket

Multiple Choice

Each month Jackson pays a house payment, a health club membership fee, a car payment, and the cost of food. Which of these expenses is a variable expense?

• House payment

• health club membership fee

• car payment

• cost of food

Multiple Choice

Which of these is an example of a fixed expense because the cost does NOT change from week to week or month to month?

• the cost of clothing

• cost of gasoline

• cost of video rentals

• cost of apartment rent

Multiple Choice

Kendrick has car expenses each month. Which of these car expenses is fixed?

• monthly car payment

• cost of gasoline per month

• toll road fees

• cost of parking

Multiple Choice

Which statement is NOT true about a financial institution?

• safe place to keep your money

• charges a fee, called interest, on loans.

• business that never borrows money

• can issue credit cards

Multiple Choice

Steve wants to save his money to buy a new computer that costs $800. Which is an advantage of Steve putting his money into a savings account at a financial institution rather than keeping his money at home.

• He will not earn interest if he keeps his money at home.

• He will not be able to use the money to buy something if puts his money into a savings account at a financial institution.

• He will earn interest if he puts his money into a savings account at a financial institution.

• His money may be lost if he keeps his money at home.