Financial Literacy

Tuition for one year of college at a state
university is about $13,000. Clay will save money each month for the next four years. Clay’s parents will give him $5,200 for his first year of tuition. Which plan shows the minimum amount of money Clay must save to have enough to pay for his first
year of tuition?

• Save $270.83 per month for the next 4 years
• Save $162.50 per month for the next 4 years
• Save $650.00 per month for the next 4 years
• Save $108.33 per month for the next 4 years

Tags

CCSS.7.EE.B.3

Rodney will attend a state university in 3 years. He expects the total annual cost to be $26,170, and he expects to receive a grant for $2,855 and a scholarship for $5,800. Rodney already has $2,480 saved for college. Which equation can Rodney use
to determine the amount, t, he should save each week in order to have enough money to pay for his first year of college?

• 2,480 + 36t = 17,515
• 2,480 + 36t = 34,825
• 2,480 + 156t = 17,515
• 2,480 + 156t = 34,825

Tags

CCSS.7.EE.B.3

The table below shows the current expenses for attending a university. Which of the following is closest to the cost of attending
this university your first year of college?

• $19,349.00
• $19,420.78
• $17,941.80
• $17,590.00

Brandon has already saved $1,220 for college. He expects the total cost of his first year to be $9,850, and expects to receive a scholarship for $2,120. How much money should Brandon save each week in order to have enough money in 2 years to pay for his first year of college?

• $62.60
• $74.33
• $103.37
• $271.25

Tags

CCSS.7.EE.B.3

Anne deposited $500 in an

account that earns 6% simple annual interest.

Shelly deposited $500 in an account that earns 6% annual interest

compounded annually. They leave the

money in the account for 4 years. Which

statement is true about the two investments after 4 years?

• Shelly will have $131.24 more in her account

  than Anne has in her account.

• They will have the same

  amount in their accounts.

• Shelly will have $11.24 more

  in her account than Anne has in her account.

• Anne will have $11.24 more in

  her account than Shelly has in her account.

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CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Carly

deposited $800 in an account that earns 6% compounded annually. Lara deposited

$800 in an account that earns 6% simple interest. How much will each girl have

in their account at the end of 10 years if they make no withdrawals or deposits?

• Carly: $1432.68 Lara: $1280

• Carly: $1444.89 Lara: $1280

• Carly: $1444.89 Lara: $1320

• Carly: $1432.68 Lara: $1320

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CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Steve deposited

$5,000 in a savings account that pays 4% interest compounded annually. Which

equation could be used to find the value of the account after 3 years?

• A = 5,000(1 + 4)³

• A = 5,000(1 + 0.04)³

• A = 5,000(1 + 0.4) x 3

• A = 5,000(0.04)³

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.B.5

David

invests $10,000 in a savings account that pays 3.5% simple interest. If David

makes no withdrawals or deposits to the account, how much will be in the

account after 7 years.

• $2,450

• $11,750

• $12,450

• Not here

Tags

CCSS.HSF.BF.A.2

Audrey deposited $2,800 in a

savings account that pays 2.65% interest compounded annually. What is the total

value of the account after 7 years?

• $562.57

• $3362.57

• $14,514.15

• $2,569,680

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Sharyce put some money in a savings account that paid 2.7% simple interest. After a year, the account was worth $7,890.44. What was the amount Sharyce originally deposited?

• $7,200

• $7,683

• $7,500

• $7,700

Tags

CCSS.7.RP.A.3