Finance Review

Kaylee will save her allowance of $25 per month to purchase a $150 MP3 player in six months. This is an example of what type of goal?

• Short‐term goal
• Long‐term goal
• Mid‐term goal
• This is not an example of a goal.

Tags

CCSS.8.EE.C.7B

What is a budget?

• a group that helps the community

• a safe place where people keep money

• a center where you can donate things

• a plan for spending and saving money

Which is good advice for saving and spending money?

• Spend all of your allowance as soon as you earn it.

• Use a budget to plan how much money you can save.

• Try to buy things that you want before the things that you need.

• Buy things you use only once, and then throw them out.

The main difference between a credit card and debit card is

• A debit card requires that you have the cash available in the account; a credit card doesn't
• A credit card has the Visa or MasterCard logo; a debit card doesn’t
• A debit card does not offer the same protections as a credit card.
• A credit card requires that you have the cash available in the account, a debit card doesn't

Which type of card is a loan in which the lender will charge you interest if you do not pay off the balance each month?

• Credit Card

• Debit Card

• Prepaid Card

What is income?

• The amount you spend

• The amount you don't save

• Money you earn from a job

What is a variable expense?

• The amount of money you spend

• The amount of money you save

• An expense that costs different amounts every month

• The variable in math

Tags

CCSS.6.EE.A.1

Which part of a personal budget records the amount of money a person spends?

• salary

• income

• expenses

•   interest earned

Use the information to answer the question.

“I want to open my own restaurant. I will need to take out a loan from my bank.”

-Jayla Smith, Entrepreneur

Which of the following BEST explains what should Jayla expect by taking a loan from her bank?

• to have to pay her employees their monthly salaries

• to repay the bank based on the amount of the loan plus interest

• to receive money from her employees to help her repay the loan

• to be so successful that she will be able to repay the loan in full right away

Tags

CCSS.RI.11-12.2

CCSS.RI.9-10.1

CCSS.RL.11-12.1

CCSS.RL.8.1

CCSS.RL.9-10.1

Percentage of a sale someone makes

• Wage

• Salary

• Comission

• Retirement

Tags

CCSS.6.RP.A.3C