Financial Literacy SBC

A refrigerator is priced at $525.50. There is a 6% sales tax rate. What is the sales tax for the refrigerator in dollars and cents?

Mathematical Equivalence

ON

A doctor has an annual income of $152,125. The income tax the doctor has to pay is 6%. What is the amount of income tax in dollars and cents that the doctor has to pay.

Mathematical Equivalence

ON

The price of a DVD $24.00 plus 8% sales tax. What is sales tax on this DVD in dollars and cents?

Mathematical Equivalence

OFF

The price of a computer is $899.00. The sales tax rate is 7%. What is sales tax on this computer in dollars and cents?

Mathematical Equivalence

OFF

Felicia earns $800 a month. The table shows her monthly budget.

Which statement is supported by the information in the table?

• Felicia spends 10% of her monthly budget on clothes and food.

• Felicia spends 25% of her monthly budget on her car payment.

• Felicia spends 20% of her monthly budget on her college savings.

• Felicia spends 50% of her monthly budget on her car payment and cell phone.

In Oscar's monthly budget, each category is assigned a certain percentage of his monthly income. Oscars monthly income is $2250.

Which statement is NOT supported by the information in the table?

• Oscar puts $360 of his monthly income into savings.

• Less than $900 of Oscar's monthly income is for his house payment and life insurance.

• Oscar budgets $485 of his monthly income for telephone, utilities, and emergency.

• More than $530 of Oscar's monthly income is for his car payment and car insurance.

Alberto's monthly income is $3200. Part of Alberto's monthly budget is shown in the table.

What percentage of Alberto's income is used to pay for his rent and groceries?

• 40%

• 28%

• 64%

• 12%

Rashad is preparing his monthly budget for college. The table shows Rashad's budget. Which categories represent more than 10% of the total budget?

choose THREE

• Groceries

• Gasoline

• Cell Phone

• Rent

• Entertainment