Finance 1 - Personal Finance

Quiz
•
Mathematics
•
7th - 9th Grade
•
Easy
Standards-aligned

Jean Streepey
Used 23+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
When borrowing money, do you want a high interest rate or a low interest rate?
You want a high interest rate.
You want a low interest rate.
The interest rate won't matter.
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Michael earns $55,000 for the year and takes the standard deduction of $12,200. What is his taxable income?
$55,000
$42,800
$43,200
$12,200
Tags
CCSS.7.NS.A.1D
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What does "deduction" mean when doing taxes?
The amount of tax you pay.
The amount of income on which you DON'T pay taxes.
The amount of income on which you DO pay taxes.
The amount you get back as a refund each year.
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What does "withholding" mean when talking about taxes?
The amount your company withholds from your paycheck to pay taxes.
The amount that you hold back and don't tell the government you earned.
The amount you receive as a refund at the end of the year.
The amount on which you don't have to pay taxes.
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Jane's income is $55,000 and she takes the standard deduction of $12,200. Her tax rate is 15%. How much tax will she owe for the year?
$42,800
$12,200
$6,420
$535
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
If you invest $4,000 at 6% for 10 years, what is your principal?
$4,000
.06
.6
10
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
If you invest $4,000 at 6% for 10 years, what value for "r" will you use in your formula?
10
.6
.06
$4,000
Tags
CCSS.HSF.BF.A.2
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