Financial Literacy

Which of the following is a variable expense?

• Internet

• subscription

• gym membership

• movie

Tyron had $132.41 in his saving account. Then he deposits $15 and earns

$0.83 interest. How much is in his account now?

• $116.58

• $117.41

• $148.24

• $147.41

Which is an advantage of keeping your money in a piggy bank at home rather than in a bank?

• Your money earns interest at home

• It is easier to use money kept at home

• Your money is safer at home

• None of the above

Which of the following is not something a credit union does?

• Manages businesses

• Keeps money safe

• Pays interest

• Provides savings accounts

Which of the following is an advantage of putting your money in a bank?

• Your money is unsafe

• Your money earns interest

• It may be difficult to take your money out of the bank

• All of the above

Which of the following is an example of a fixed expense?

• Pedro spends $21.75 on a birthday present for his dad

• Cedric donates $5 to the Make-a-Wish Foundation

• Mr. Nelson treats his daughter to an ice-cream sundae for $3

• Mrs. Sanchez pays someone $25 each week to have her lawn mowed.

The Girls Scouts of America sell cookies to buy uniforms. The Girl Scouts buy

a box of cookie for $3 each. They sell the box of cookies for $7 each. They

also spend $9.45 on advertisement. If the Girl Scouts sell 185 boxes of

cookies, what will be their profit?

• $730.55

• $740.55

• $750.55

• $760.55

Trent kept track of his leaf-raking business as shown. What was his profit?

• $30.36

• $26.88

• $60.72

• $13.44

Which of the following best describes the purpose of financial institutions such as banks, credit unions, and savings and loan associations?

• Lending money to people and businesses

• Keeping money safe

• Both F and G

• Not here

Chloe wrote down some of this month’s family expenses. Which is a list of only fixed expenses?

• A) Movie tickets, shoes, school fees

• B) Car payment, insurance, rent

• C) Movie tickets, insurance, car payment

• D) Rent, shoes, school fees