
Financial Algebra Chapter 7 Quiz
12th Grade
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10 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
George makes $30 an hour and works 31 hours a week. He pays 23% of his gross earnings in federal and state taxes and saves 15% of his monthly gross income. He is considering renting an apartment that will cost $900 per month. Is this monthly rental fee within the recommended 25-30% housing expense range?
True
False
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
George makes $30 an hour and works 31 hours a week. He pays 23% of his gross earnings in federal and state taxes and saves 15% of his monthly gross income. He is considering renting an apartment that will cost $900 per month. Based on his expenses, can he make the monthly payments?
True
False
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
A room is 15 by 20 feet with a 9 foot ceiling. How much would it cost to paint all the walls if a gallon of paint cost $23.45 and covers 250 square feet?
$257.95
$70.35
$59.10
$46.90
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Mark makes $16.50 an hour and works 40 hours a week. He pays 27% of his gross earnings in federal and state taxes and saves 5% of his monthly gross income. He is considering renting an apartment that will cost $1,300 per month. Is this monthly rental fee within the recommended 25-30% housing expense range?
True
False
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Mark makes $16.50 an hour and works 40 hours a week. He pays 27% of his gross earnings in federal and state taxes and saves 5% of his monthly gross income. He is considering renting an apartment that will cost $1,300 per month. Based on his expenses, can he make the monthly payments?
True
False
6.
MULTIPLE CHOICE QUESTION
5 mins • Ungraded
GHT Bank offers 20 year 9.81% interest rate and MPM offers a 30 year 11% rate. Jorgy borrows $280,000. What is the monthly payment of GHT bank?
55
67
7.
MULTIPLE CHOICE QUESTION
5 mins • Ungraded
GHT Bank offers 20 year 9.81% interest rate and MPM offers a 30 year 11% rate. Jorgy borrows $280,000. How much interest is paid for the GHT mortgage for the term of the loan?
67
54
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