Spiral #8

Debit cards are a convenient way to pay because you don’t have to carry cash or take time to write a check.

• True

• False

If you spend more money than is in your account, your bank will charge you a fee.

• True

• False

When using a credit card, you will be charged interest if the balance is not paid within 30 days.

• True

• False

Which tax is based on the amount of money you earn?

• Sales Tax
• Property Tax
• Income Tax

Which method of payment may you have to pay interest?

• Cash
• Check
• Debit Card
• Credit Card

Josie's gross wages are $2,200. If her income tax rate is 20%, how much will her employer withold?

• $40

• $2,220

• $440

• $4,000

Chelsie is shopping for meat at the supermarket. Which is the best buy?

• 1 pound for $3.66.

• 2 pounds for $7.04

• 4 pounds for $13.76

• 5 pounds for $17.50

Which one of the following are financial institutions?

• bank and credit union
• library and hospital
• school and museum
• Starbucks and Wal-Mart

An identification card issued by a bank that allows a user to buy items and services immediately and pay the cost at a later time.

• Credit Card

• Debit Card

• Bank Card

• Check

An identification card issued by a bank that allows a user to immediately use money from an account. You have a personal identification umber (PIN) to keep it safe.

• Credit Card

• Debit Card

• ID Card

• Driver's License