Unit 1-3- 7th Grade Exam Review

Front

What is the formula for calculating Net Worth?

Back

Net Worth = Assets - Liabilities

Front

What is 5.2 multiplied by 1.5?

Back

7.8

Front

What is the sum of 7 and 5.826?

Back

12.826

Front

If 17 students want to raise $483.62 and have already raised $218.25, how much more must each student raise?

Back

$15.61

Front

What is the sum of 7 3/5 and 9 2/5?

Back

17

Front

Define 'Assets' in financial terms.

Back

Assets are resources owned by an individual or entity that have economic value.

Front

Define 'Liabilities' in financial terms.

Back

Liabilities are obligations or debts that an individual or entity owes to others.

Front

What is the process to add mixed numbers like 7 3/5 and 9 2/5?

Back

Convert to improper fractions, add, and convert back to a mixed number.

Front

What is the importance of understanding Net Worth?

Back

Understanding Net Worth helps individuals assess their financial health.

Front

How do you multiply decimals?

Back

Multiply as whole numbers, then count and place the decimal point in the product.