Financial Literacy Review

If a school counselor earns $63,600 per year and an assistant principle earns $83,500 per year, how much more would would the assistant principal earn than the school counselor over 10 years? (a)  

• $20,900.00
• $19,900.00
• $199,000.00
• $398,000.00

All of the following can appear on your credit report, EXCEPT

• Salary
• If you've been arrested
• Money you borrowed from your aunt
• The number of credit accounts you have open

(6.14C)

• $175.25
• $25.25
• $632.65
• $482.65

(6.14B) Julio paid $35.92 for gasoline with his debit card. Which of the following is an accurate description of Julio's transaction?

• Julio's payment will affect his credit rating.

• Julio might be charged interest for his purchase.

• Julio's linked account will immediately have $35.92 removed.

• Julio will make payment for his purchase when he receives his monthly statement.

(6.14D) Why is it important to establish positive credit history?

• Higher credit scores result in lower interest rates on loans.
• Positive credit history results in higher credit scores.
• You are more likely to be offered a loan by a bank.
• All of the above.

There are various methods in which to pay for your purchases. Paul used a type of card to pay for his purchase that withdraws money immediately from his checking account. What is this type of payment card called?

• credit card
• debit card
• 401 card
• savings plus card

Katie wants to purchase a camera that costs $149.99.  She has $435.00 in her checking account.  Which statement is true if Katie uses a debit card to pay for the membership?

• She will have to pay interest on the amount she borrows.
• She will have to pay a penalty fee because she does not have enough money in her account.
• She will have to make payments on the amount she borrows.
• She will not have to pay a fee because she has enough money in her account.

James's initial balance in his checking account was $800.  He withdrew $200 and then deposited $164.  James made another transaction that brings his balance to $750.  What was the transaction?

• a deposit $314
• a withdrawal of $14
• a withdrawal of $414
• a deposit of $50

Determine the final balance of the account below.  The opening balance was $143.54.

• $163.30
• $161.30
• $162.30
• $160.30

Addison can make $6,780 more each year to complete her bachelor's degree. How much money could this degree earn her over a 12 year period?

• $81,360 over 12 years

• $8,136 over 12 years

• $813,600 over 12 years

• $83,160 over 12 years