Financial Literacy 5th Grade

The price of the shirt is $45. The total cost of the shirt is $47.95.

• Income/Payroll Tax

• Sales Tax

• Property Tax

Tags

CCSS.6.RP.A.3D

The value of a house is $250,000. the yearly tax on the house is $7,500.

• Income/Payroll Tax

• Sales Tax

• Property Tax

Tags

CCSS.6.RP.A.3D

A deduction is

• gross income

• money added to your income

• net income

• money taken out of your income

Tags

CCSS.6.RP.A.3B

Gross income is:

• the total amount of money you earn

• the amount of money you receive after decuctions are subtracted

• the total amount of money you spend

• sales taxes on items you buy

Tags

CCSS.3.OA.D.9

Net income is:

• the total amount of money you earn

• the amount of money you receive after deductions are subtracted from your gross income

• the amount of money that is taken away in the form of taxes

• the hourly rate of pay

Tags

CCSS.7.RP.A.3

Marco has the following deductions listed.

Federal Income tax: $44

Social Security tax: $23

Medicare tax: $5

Health Insurance: $24

What is the total amount of his deductions?

• $39

• $67

• $91

• $96

Tags

CCSS.3.OA.D.8

David's gross income: $127.25

David's deductions: $25.20

David's net pay: ?

• $102.05

• $102.45

• $112.05

• $152.45

Tags

CCSS.6.NS.B.3

Yvonne's gross income: ?

Yvonne's payroll deductions: $251.18

Yvonne's net income:$451.82

HINT: Work backwards

• $703

• $200.64

• $954.18

• $25,812.00

Tags

CCSS.6.NS.B.3

When you make a deposit or put money into a bank account, what happens to the amount in your account?

• The amount increases

• The amount decreases

• There is no change

• None of the above

Tags

CCSS.7.NS.A.1A

When you make a withdrawal or take money out of your savings account, you ______________ the amount of money in your account.

• multiply

• divide

• add

• subtract

Tags

CCSS.2.OA.A.1