Financial Literacy Test

Financial Literacy Test

Assessment

Flashcard

Mathematics

7th Grade

Hard

CCSS
7.RP.A.3, 6.RP.A.3B, 6.RP.A.3C

+17

Standards-aligned

Created by

Wayground Content

FREE Resource

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15 questions

Show all answers

1.

FLASHCARD QUESTION

Front

Discount is ____________ from the price.

Back

subtracted

Tags

CCSS.6.RP.A.3B

2.

FLASHCARD QUESTION

Front

Assets are best described as ____________.

Back

money or property you own

3.

FLASHCARD QUESTION

Front

You are purchasing a T.V for $990 with 9% sales tax. What is the final price of the T.V?

Back

$1,079.10

Tags

CCSS.6.RP.A.3C

4.

FLASHCARD QUESTION

Front

Emilio borrows $1200 from a bank with 8.5% simple interest per year. How much will he have to pay back total in 2 years?

Back

$1,404

Tags

CCSS.7.RP.A.3

5.

FLASHCARD QUESTION

Front

Tina invested $2,000 in a simple interest account and earned 8% rate for 5 years. What is the interest that she earned on the account?

Back

$800

Tags

CCSS.7.RP.A.3

6.

FLASHCARD QUESTION

Front

What is the formula for calculating simple interest?

Back

Simple Interest = Principal × Rate × Time

Tags

CCSS.7.RP.A.3

7.

FLASHCARD QUESTION

Front

What does the term 'principal' refer to in finance?

Back

The original sum of money borrowed or invested.

Tags

CCSS.7.RP.A.3

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