Financial Literacy

Which statement is NOT true about a financial institution?

• A financial institution is a safe place to keep your money.

• A financial institution charges a fee, called interest, on loans.

• A financial institution is a business that never borrows money.

• A financial institution can issue credit cards.

Which of these situations represents a financial institution as a lender?

• Saving your allowance in a savings account at a bank.

• Depositing a check into your bank account.

• Opening a savings account at a bank.

• Taking out a loan to buy new furniture.

Miranda has a savings account at a bank. The account pays interest of $3.50 per $100. What is the total amount of interest that Miranda will receive if she has $400 in her savings account?

• $3.50

• $11.50

• $14.00

• $12.50

Tags

CCSS.6.RP.A.3B

Doreen makes bracelets to sell in her jewelry store. Which is a fixed expense for her store?

• The amount she pays for string for the bracelets.

• The amount she pays for advertising for her store.

• The amount she pays for beads for the bracelets.

• The amount she pays for rent for her store.

Which of these best describes spending money on restaurant meals?

• expense for production

• a variable expense

• expense for investment

• a fixed expense

Which of these is an example of a fixed expense because the cost does NOT change from week to week or month or month?

• the cost of clothing

• the cost of gasoline

• the cost of video rentals

• the cost of apartment rent

Tags

CCSS.3.OA.D.9

Kevin builds and sells bird feeders. The materials to build each birdhouse cost $13. He sells the birdhouses for $20 each. What is the amount of profit Kevin will make if he sells 5 birdhouses?

• $15

• $100

• $35

• $115

Tags

CCSS.3.OA.D.8

Selena sells pretzels for $1.45 each. Each pretzel costs $0.45 to make. What is the amount of profit she will make if she sells 40 pretzels?

• $50

• $78

• $40

• $60

Tags

CCSS.7.EE.B.3

Damien helped his friend move. He spent $33.48 for gas and $24.98 for work gloves. His friends paid him $200. What is the amount of Damien's profit?

• $58.46

• $141.54

• $152.64

• $258.46

Tags

CCSS.7.NS.A.3

Isaac earned $300 mowing lawns in June. What was his amount of expenses if his profit was $266.72?

• $44.28

• $144.38

• $33.28

• $566.72

Tags

CCSS.6.NS.B.3