Personal Financial Literacy

What mathematical operation is used in a check register when a withdrawal is made?

• addition

• subtraction

• multiplication

• division

• some other really cool operation we haven't learned yet

The Samson family has a monthly income of $4,500.

How much does the Samson family spend on food each month?

Aliyana is a retired nurse. She does not use a debit card but writes many checks. She does online banking and transfers money from her savings account to her checking account twice a month. Aliyana's bank is one of the four financial institutions described. Which most likely is Aliyana's bank?

• Bank 1

• Bank 2

• Bank 3

• Bank 4

Minda's monthly pay is $3,200.

She pays 15% of her monthly income in federal withholding. How much federal withholding does she pay?

Which of the following is considered a "need" when budgeting?

• money for eating out

• money for going to the movies

• money to pay for your house

• money for your dog's toys

Money you receive after taxes is called:

• gross income

• net income

• salary

• pay day

Mr. Samson gets a raise and the family's monthly income is now $5100. How much more could the Samson family save?

What is the mathematical term for the amount of money you initially invest or borrow?

• Principal

• Interest

• Dividend

• Equity

If you save $200 every month, how much will you have saved in a year?

• $2,000

• $2,200

• $2,400

• $2,600

Which mathematical concept is used to calculate the future value of an investment?

• Addition

• Subtraction

• Compound Interest

• Division