7th grade financial lit review

A clothing company buys sweaters for $26 from the manufacturer. The company sells the sweaters for $38.60. Which percentage is closest to the percent increase of the life preservers?

• 12%

• 55%

• 67%

• 32%

A scale model of an aircraft carrier uses a scale in which 1 inch represents 400 feet. If the beam of the actual aircraft is 300 feet, what is the length of the beam on the scale model in inches?

• .75 inches

• 75 inches

• 7.5 inches

• 1.3 inches

Jason took out a loan for $34,000. THis loan has a simple interest rate of 3.5% per year. The loan is for 6 years.

• $7,140

• $1,190

• $714,000

• $71,400

The table shows Jordan's net worth statement. Assets are shown as positive values and liabilities are shown as negative values.

Her assets total are_________

• $333,400

• $317,400

• $271,500

• $333,900

The table shows Jordan's net worth statement. Assets are shown as positive and liabilities are shown as negative values.

Jordan's liabilities total __________

• $176,140

• $164,890

• $8,625

• $184,765

The table shows Jordan's net worth statement. Assets are shown as positive and liabilities are shown as negative values.

Jordan's net worth is __________

• $149,135

• $518,665

• $151,245

• $251,245

A map made with a scale in which 3 inches represents 650 miles. The actual distance between the two cities is 1580 miles. What is the distance between the same two cities on the map in inches?

• 72 inches

• 7.2 inches

• 12 inches

• 1.2 inches

Novah brought a brand new SUV for $60,000. The SUV depreciated 15% after the first year she owned it. What is the value of Novah's SUV after the first years she's owned it?

• $900,000

• $9,000

• $69,000

• $51,000

Erik earns $3100 a month. The table shows how much he spends each month.

Which categories represent 25% of his total budget?

• car, cell phone, food

• cell phone, car, other

• car, savings for college, cell phone

• clothes, food, car

Jake took his kids to get haircuts. The haircuts cost $62.50. He also gave the stylist a 24% tip. What was the total cost, including tip, for Jake's kids to get haircuts?

• $15

• $77

• $150

• $1,500