Business Alg 2 Warm Up Jan 9, 2024

What is Scotland's national animal?

• polar bear

• Black bear

• unicorn

• eagle

Using the 50/30/20 budgeting plan recommends the following...

• It limits your spending to $50 dollars per month

• It recommends 50% for needs, 30% for wants, and 20% for savings

• It recommends that 50% of your budget goes to debt repayment or savings.

• For every $50 you save; a bank gives you $30 or a Credit Union gives you $20.

How do you represent 11% as a decimal?

• 1.1

• 0.011

• 0.11

• 11

Which of the following costs would be the most difficult to adjust if you were looking to reduce your expense?

• Dining out at local restaurants

• Expenses for new clothes

• Loan payment on a student loan

• Purchasing a new big-screen TV

How many months of expenses should be saved as emergency funds?

• 12 months - 18 months

• 9 months

• 3 - 6 months

• 4-8 months

Bailey has $3200 per month to spend. Her monthly costs include: rent of $1,200, car expenses of $525, utilities of $145, insurance of $200, food for $315, and other expenses of of $75. What is the end result?

• Budget surplus of $740

• Budget deficit of $740

• Budget surplus of $125

• Budget deficit of $125

How much interest is earned if $1,000 is put into a savings account for 15 years at an annual simple interest rate of 4%.

• $7,000

• $6,000

• $1,600

• $600

Devon earned $495 in simple interest over four years at a 1.5% interest rate. What was the amount that he put in his savings account to start.

• $495

• $18.56

• $8,250

• $825

The most expensive college in the US is ...

• University of Chicago

• Brown University

• Yale University

• Cal Poly Pomona