Review #2 Financial Literacy midterm

Quiz
•
Mathematics
•
9th - 12th Grade
•
Medium
+2
Standards-aligned
Jennifer Storts
Used 9+ times
FREE Resource
23 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Why do stores rarely advertise the full price of big purchases like smartpones?
They are trying to keep their prices competitive
They are trying to cheat you
By showing you only the monthly payment, they make the product seem affordable
Hiding the full price allows stores to change their pricing as the market fluctuates.
Tags
MA.912.FL.3.5
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Alfonso purchased a drum set from the Carlton Music Center. The drum set regularly sold for $1,000, but was on sale for 45% off. He also had to pay 5% sales tax. He bought it on an installment plan and paid 20% of the total cost with tax as a down payment. His monthly payments were $49.80 per month for 12 months.
What is the discount?
$350
$450
$250
$150
Tags
MA.912.FL.1.1
3.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Alfonso purchased a drum set from the Carlton Music Center. The drum set regularly sold for $1,000, but was on sale for 45% off. He also had to pay 5% sales tax. He bought it on an installment plan and paid 20% of the total cost with tax as a down payment. His monthly payments were $49.80 per month for 12 months.
What is the sale price?
$850
$650
$750
$550
Tags
MA.912.FL.1.1
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Alfonso purchased a drum set from the Carlton Music Center. The drum set regularly sold for $1,000, but was on sale for 45% off. He also had to pay 5% sales tax. He bought it on an installment plan and paid 20% of the total cost with tax as a down payment. His monthly payments were $49.80 per month for 12 months.
What is the sales tax?
$27.50
$42.50
$37.50
$32.50
Tags
MA.912.FL.1.1
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Alfonso purchased a drum set from the Carlton Music Center. The drum set regularly sold for $1,000, but was on sale for 45% off. He also had to pay 5% sales tax. He bought it on an installment plan and paid 20% of the total cost with tax as a down payment. His monthly payments were $49.80 per month for 12 months.
What is the total cost of the drum set?
$577.50
$892.50
$682.50
$787.50
Tags
MA.912.FL.1.1
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Alfonso purchased a drum set from the Carlton Music Center. The drum set regularly sold for $1,000, but was on sale for 45% off. He also had to pay 5% sales tax. He bought it on an installment plan and paid 20% of the total cost with tax as a down payment. His monthly payments were $49.80 per month for 12 months.
What is the down payment?
$136.50
$178.50
$115.50
$157.50
Tags
MA.912.FL.3.6
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Alfonso purchased a drum set from the Carlton Music Center. The drum set regularly sold for $1,000, but was on sale for 45% off. He also had to pay 5% sales tax. He bought it on an installment plan and paid 20% of the total cost with tax as a down payment. His monthly payments were $49.80 per month for 12 months.
What is the total of the monthly payments?
$597.60
$839.04
$745.08
$691.08
Tags
MA.912.FL.3.6
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