Finance Assessment

A 401(k), IRA, and Roth IRA are all examples of a __________ account.

• Retirement

• College Savings

• Low Interest

• Checking

This type of retirement account offered by employers to their employees allows them to set aside tax-deferred income.  Sometimes, your employer will even match your contribution towards your retirement.

• Mutual Fund

• 401(k)

• Roth IRA

• Options

This term refers to the original amount of a loan OR the original sum of money invested. 

• Principal

• Interest

• Rebate

• Debt

Tags

CCSS.7.RP.A.3

Definition: This is an obligation of repayment, usually including the principal plus interest. Or it can be thought of as any time you owe someone money.

• Compound Interest

• Income

• APR

• Debt

Tags

CCSS.7.RP.A.3

Definition: This allows you the opportunity to buy something now and pay for it later (usually with having to pay a finance charge and/or the addition of interest). 

• Debit

• Credit

Which of the following apps/companies will allow you to "Buy Now, Pay Later"?

• Cash App

• Venmo

• Affirm

• Mom and/or Dad

Definition: A card that uses money directly from your bank account to pay someone, or a merchant

• Debit Card 

• Credit Card 

• Gift Card

• Visa Prepaid Card 

Portions of Money taken out of a paycheck (Gross Pay) before you receive your money (Net Pay) are called _________.

(Examples: Taxes, Retirement, Health Insurance, Social Security)

• Interest

• Payments

• Deductions

• Criminal

Using this Pay Stub, which value shows the total "current deductions" of the taxpayer?

• $315.21

• $284.79

• $2563.11

• $334.80

Tags

CCSS.6.NS.B.3

Using this Pay Stub, what percentage of this person's total 2-week pay was taken away from deductions?

Said differently, they made $600 for 2-weeks of work, but only got to keep $264. What percentage amount was taken away?

• 52.5%

• 47.5%

• 37.5%

• 62.5%

Tags

CCSS.6.RP.A.3C