Net Worth and Sales Tax

What is an assest?

• Credit card

• Jewelry

• Tuition

• Utilities

An asset is ...

• something you own with positive value

• something you owe with negative value

• something you pay for monthly

• something you borrow

Tags

CCSS.6.NS.C.5

A liability is...

• something you own with positive value

• something you owe with negative value

• something you own with negative value

• something you owe with positive value

Tags

CCSS.6.NS.C.5

What is a liability?

• Boat

• Jewelry

• Credit Card

• House

What is an example of a liability?

• Medical bills

• Savings account

• Checking account

• Debit card

Lucas owns ocean front property at South Padre Island. His beach house is valued at $289,900. He owns a car valued at $15, 400. He also owns a boat valued at $14,100. Lucas still owes $54,400 on his mortgage. He owes $8,300 on his car loan and has a credit card debt of $1,250 and $9,500 in student loans. What is Lucas net worth?

• $392,850

• $319,400

• $245,950

• $73,450

Tags

CCSS.7.EE.B.3

The list shows Mary's assets and liabilities. What is Mary's net worth?

• $83,770

• $-83,770

• $19,750

• $-19750

Tags

CCSS.7.EE.B.3

Karla went to the mall to buy a new outfit. She bought a pair of jeans for $32.50 and a shirt for $12.75. How much sales tax will she pay on her outfit if tax is 6%?

• $45.25

• $27.15

• $47.97

• $2.72

Tags

CCSS.6.RP.A.3C

The price of a new car is $29,990. If the sales tax rate is 6.5%, then how much sales tax is being charged? What is the total cost for the car including tax?

• $19,493.50

• $1,949.35

• $31,939.35

• $35,939.35

Tags

CCSS.7.RP.A.3

A roll of ribbon costs $2.79. If the sales tax rate is 5%, then how much sales tax is being charge? What is the total cost for the ribbon including tax?

• $0.13, $2.92

• $0.14, $2.93

• $0.15, $$2.94

• $0.12, $2.91

Tags

CCSS.7.RP.A.3