Personal Financial Literacy

The sales tax rate in Texas is 8%. If Mr. Jacobs buys an American Girl doll for his daughter with a price tag of $150, what is the total amount he will pay for the doll?

(a)  

Tags

CCSS.6.RP.A.3C

Angie has $1062 in her savings account. If the bank pays 4% simple interest on savings, how much interest does she earn in 3 years?

(a)  

Tags

CCSS.7.RP.A.3

Mrs. Wilcox paid $28.00 for new beakers and clamps for $10.00. The sales tax rate is 6%. How much will Mrs. Wilcox pay in sales tax?

(a)  

Tags

CCSS.6.RP.A.3C

Ellen deposited $3000 into an account that earns 5% compounded annually. She is planning to let the account earn interest for the next 2 years without making any deposits or withdrawals. Which formula would tell you the interest after 2 years?

• ) $3000\left(.05\right)\left(5\right)$

• $3000\left(1\ +\ .05\right)^2$

• $3000\left(1+.05\right)^2-3000$

• $\left(.05\right)\left(5\right)+3000$

Tags

CCSS.7.RP.A.3

CCSS.7.EE.B.3

CCSS.7.EE.A.2

Alyssa is filing her income taxes. She takes care of her elderly grandfather and is filing Head of Household. Her annual income is $73,258. She paid $11,584 in taxes last year. Use the tax table to find the amount Alyssa will owe.

(a)  

Tags

CCSS.7.RP.A.3

Leo wants to buy some shoes. He found the shoes at three different stores for a price of $35. The stores are each having a sale.

Store X is offering 15% off the price of the shoes.

Store Y is offering $5 off the price of the shoes.

Store Z is offering 1/5 discount off the price of the shoes.

Which statement about the sale price of these shoes is true?

• Store X has the best sale price of $20

• Store Z has the best sale price of $28.

• Store Y has the best sale price of $30.

• Store Z has the best sale price of $7.

Tags

CCSS.7.RP.A.3

Chelsie is shopping for meat at the supermarket. Which is the best buy?

• 1 pound for $3.66.

• 2 pounds for $7.04

• 4 pounds for $13.76

• 5 pounds for $17.50

Tags

CCSS.6.RP.A.3B

Which of the following is an example of a fixed expense?

• Rent

• Food

• Credit card bill

• Car payment

Which of the following is an example of a variable expense?

• Food

• Credit card bill

• Loan

• Utility bill

Tags

CCSS.7.EE.B.4

Which items are examples of liabilities?

• Furniture you own

• Mortgage

• Car loan

• Your house which you own.