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Finance Weekly Quiz 4/3/2020

Authored by Kristi Engels

Mathematics, Other

9th - 12th Grade

Used 5+ times

Finance Weekly Quiz 4/3/2020
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10 questions

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1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Lalah has received similar job offers from two companies. Her plan is to stay with the job she chooses until she reaches retirement age, which will be in 25 years. Company A offers a defined benefit plan where the average monthly pension payment for her position is $630 after 25 years of service. Company B offers a combined defined contribution plan where she can contribute to a 401(k) and an IRA with a monthly maximum contribution of $500.

Write an equation for Company A’s average monthly payments.

x + y 500x\ +\ y\ \le500

y = 25xy\ =\ 25x

y = 630xy\ =\ 630x

x + y 630x\ +\ y\ \ge\ 630

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Lalah has received similar job offers from two companies. Her plan is to stay with the job she chooses until she reaches retirement age, which will be in 25 years. Company A offers a defined benefit plan where the average monthly pension payment for her position is $630 after 25 years of service. Company B offers a combined defined contribution plan where she can contribute to a 401(k) and an IRA with a monthly maximum contribution of $500.

Write an inequality that shows the various combinations of monthly contributins for B’s plan.

y = 630xy\ =\ 630x

x + y 500x\ +\ y\ \le500

x + y <500x\ +\ y\ <500

x y 500x\ -\ y\ \le500

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What type of boundary line would the following inequality have?
 3x + 7y < 7203x\ +\ 7y\ <\ 720  

solid

dashed

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What type of boundary line would the following inequality have?
 y4x  2y\ge4x\ -\ 2  

solid

dashed

5.

OPEN ENDED QUESTION

15 mins • Ungraded

How do you know which side of the boundary line to shade when graphing an inequality?

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6.

FILL IN THE BLANK QUESTION

15 mins • 1 pt

What is the maximum amount that an individual will contribute to Social Security in one year?

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

If a person chooses to retire and collect benefits at age 62, how much of a discount will they receive in their Social Security benefits?

12.4%

8%

30%

6.2%

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