Financial Literacy

This is the budget for the Jones family. What percentage of the total budget is represented by entertainment? (hint: use a percent proportion to solve).

The Samson family is moving to another city that has a higher "cost of living". They estimate their required monthly income will need to be $6200. How much more money will they need to live in the new city?

The Samson family has a monthly income of $4,500.

How much does the Samson family spend on food each month?

Find the total amount in the account to the nearest cent if the interest is compounded annually. 
$2750 at 8% for 2 years

• $220
• $440
• $660

In the compound interest formula A=P(1+r)^t what does the A stand for?

• The amount of interest

• The total amount

• The interest rate

• The time

The simple interest formula is I=Prt.  What does the t represent?

• Principle
• Interest
• Time, in hours
• Time, in years

What is Angel's net worth? (Add the assets & the liabilities and subtract them from each other).

Calculate the interest.  I = PRT,
Principal = $10000,
Rate = 7%,
Time = 20 years

• 1400
• 1000
• 14000
• 14

Brayden and Matilda Gates have a combined annual income of $235,000. How much did they actually earn after they paid income taxes?

Use the chart below to determine their tax rate.

• $77,550

• $65,800

• $169,200

• $157,450

Interest that is calculated only on the principal, or original, amount of a loan.

• Savings

• Compound Interest

• Simple Interest

• Depreciation