Math STAAR Review

Math STAAR Review

Multiple Choice

Assets are best described as

• money or property you own

• financial debts and obligations for which you owe
• your net worth
• adjusted gross income

Multiple Choice

Which of the following is an asset?

• mortgage

• school loan

• jewelry

• credit card bill

Multiple Choice

Debts or money you owe (you are responsible for paying back).

• Liabilities

• Assets

• Negative Net Worth

• Property

Multiple Choice

Bills and Loans are examples of ________?

• Assets

• Liabilities

• Net worth

• Pickles

Multiple Choice

The Balance On your Credit Card would be considered a/an

• asset

• liability

Multiple Choice

Which of the following is considered an asset?

• credit card debt
• savings
• car payoff
• student loan

Multiple Choice

Net worth is found by

• subtracting expenses from income
• dividing monetary assets by current liabilities
• subtracting assets and liabilities

• dividing monthly debt by monthly income

Multiple Choice

Assets-Liabilities=

• assets

• expenses

• net worth

• savings

Multiple Choice

Jin's total assets are $8,794.  Her liabilities are $6,292.  What is her net worth?

• $6,124
• $15,086
• -$4,328
• $2,502

Multiple Choice

Based on the chart above, what is the Net Worth?

• $16,840

• $50,850

• $34,010

• $67,690

Multiple Choice

You can have negative Net Worth.

• True

• False

Multiple Choice

Assets=$20,000

Liabilities=$50,000

What is the net worth?

• $80,000

• - $80,000

• $30,000

• - $30,000

Multiple Choice

The simple interest formula is I=Prt.  What does the t represent?

• Principle
• Interest
• Time, in hours
• Time, in years

Multiple Choice

What does the "I" in the interest formula stand for?

• Principal
• Interest
• Rate
• Time

Multiple Choice

What does the "p" in the interest formula stand for?

• Principal
• Interest
• rate
• time

Multiple Choice

What does the "r" in the interest formula stand for?

• Principal
• Interest
• rate
• time

Multiple Choice

The rate is given as a percent (%).  Before using it in the simple interest formula, you must first convert it to a______.

• fraction
• decimal
• ratio
• dollar amount

Multiple Choice

Write the percent as a decimal. 
4.3%

• 4.3
• .43
• .043
• 4300

Multiple Choice

What is 7.25% converted to a decimal?

• .725
• 0.725
• 0.0725
• 7.25

Multiple Choice

Write the percent as a decimal. 
5%

• 5
• .5
• .05
• 500

Multiple Choice

Tina invested $2,000 in a simple interest account and earned 8% rate for 5 years. What is the interest that she earned on the account?

• $160

• $800

• $80,000

• $16

Multiple Choice

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

• $800
• $1,000
• $1,200
• $1,500