Financial Literacy - Part 1

Which method of payment does NOT give you a record of money spent?

• Cash

• Credit Card

• Debit Card

• Check

Justin bought a shirt for $6. Sales tax is 7%, or .07 times the purchase price. How much did the shirt cost with the sales tax?

• $6.07

• $6.42

• $7.06

• $10.42

Tags

CCSS.7.RP.A.3

Kate's gross income is $291. Her deductions are:

Federal Income Tax $34.92

Social Security $18.04

Medicare $4.22

Health Insurance $17.30

What is her net income?

• $74.48

• $291

• $216.52

• $365.48

Tags

CCSS.7.NS.A.3

The Smith family pays $2496 a year in property taxes. They pay in equal monthly payments. How much do they pay each month?

• $200

• $280

• $250

• $208

Tags

CCSS.5.NBT.B.6

CCSS.6.NS.B.2

Which of the following can be used to make a payment and have a record of the payment?

• Check

• Credit Card

• Debit Card

• Cash

Gross income is -

• The total amount you earn before taxes.

• The amount that is left over after deductions.

Net income is -

• The total amount you earn before anything is taken out.

• The amount you have left after the deductions.

Jack's mom used a credit card to buy a new sofa. What is a disadvantage of using a credit card?

• There is a record of her purchase.

• She will have to pay interest on the purchase.

• It was fast and easy to pay.

What would be the BEST way to pay for a package of gum?

• Credit Card

• Check

• Cash

What is your Net income if your Gross income is $408.68 and your deductions are $98.98?

• $309.70

• $308.68

• $507.66

• $310.30

Tags

CCSS.6.NS.B.3