Financial Literacy

The table shows Gillian's net worth. Assets are shown as positive numbers, and liabilities are shown as negative numbers. Gillian's net worth is $90,500. Based on the information in the table, what is the amount of money Gillian owes for student loans?

• $19,950

• $12,250

• $16,100

• $86,650

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7.13.C

Emily created the net worth statement shown. Based on the information in the table, what is Emily’s net worth?

• $107,550

• $87,025

• $20,525

• $128,075

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7.13.C

The table shows Peter's net worth statement. Assets are shown as positive numbers, and liabilities are shown as negative numbers. The value of Peter's house is not given. Peter's net worth is $101,800. Based on the information in the table, what is the current value of Peter's house?

• $58,600

• $78,300

• $98,000

• $82,100

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7.13.C

Phillip created the net worth statement shown. Based on the information in the statement, what is Phillip's net worth?

• $184,500

• $41,500

• -$71,500

• -$41,500

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7.13.C

The table shows Avery's net worth statement. Avery's net worth is $53,755. Based on the information in the table, what is the current value of Avery's car?

• $3,180

• $13,580

• $7,830

• $12,480

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7.13.C

A monthly budget for a small family is shown. Which equation can be used to find b, the minimum amount of money the family must earn annually in order to meet this budget?

• b = $3,630 x 12

• b = $3,630 x 52

• b = $43,560 + 52

• b = $43,560 + 365

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7.13.D

A monthly budget with expenses is shown. Which equation can be used to determine y, the minimum amount of money a family must earn to meet the requirements of this budget for one year?

• y = 3,600 x 12

• y = 3,600 ÷ 7

• y = 3,600 x 4

• y = 3,600 ÷ 52

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7.13.D

Rita has a loan of $45,580. This loan has a simple interest rate of 4% per year. What is the amount of interest that Rita will be charged on this loan at the end of one year?

• $47,403.20

• $11,395

• $18,232

• $1,823.20

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7.13.E