Personal Financial Literacy

A teacher has an annual income of $41,253. The income tax rate is 20%. What is the amount of the teachers's income tax in dollar and cents?

• $412,530

• $412.53

• $825,060

• $8250.60

Diego bought these items for an art project. The sales tax is 8.5% what is the total cost including tax, rounded to the nearest cent?

• $39.98

• $33.98

• $48.48

• $43.38

The following table shows a net worth statement created by Maria. Based on the information in the table, what is Maria's net worth?

• $131,520

• $16,475

• $147,995

• $115,045

Stacey has a net worth of $11,240. The table shows her liabilities. What is the total value of her assets?

• $10,570

• $21,810

• $32,380

• $11,240

Jorge has a loan of $25,230. This loan has a simple interest rate of 6% per year. What is the amount of interest that Jorge will be charged on this loan at the end of one year?

• $4,205

• $1,513.80

• $15,138

• $26,743.80

Mike finds the shirt he wants to buy for $25 at three different stores. Each of the three stores has a different sale on the shirt he wants. Store K offers 1/4 off the price. Store N offers 14% off the price. Store R offers $4 off the price. Which statement about the sale price of this shirt is true?

• Store K has the lowest sale price of $6.25

• Store N has the lowest sale price of $21.50

• Store R has the lowest sale price of $21.00

• Store K has the lowest sale price of $18.7

Micha includes these expenses in a monthly budget: rent, food, car payment, and college savings. Which of these items is most likely a variable expense?

• Rent

• Food

• Car Payment

• College Savings

Kara opens a savings account with $500. She makes no changes to this account for 2 yars. Her account has a compound interest rate of 3% per ear, compounded annually. What will be there total amount in the account at the end of the 2 years

• $530.45

• $8,000

• $515

• $4,500.50