Financial Literacy Review

Daria’s gross monthly income is $1,200. Her total monthly payroll taxes are $175. What is Daria’s net monthly income?

• $1375

• $700

• $1,025

• $500

Tags

CCSS.6.NS.B.3

Each month, Gita earns $22 doing yard work. Her monthly allowance is $30. She makes a monthly budget and sees that her monthly expenses are $65. How much does Gita need to earn from tutoring to balance her budget?

• $8

• $13

• $5

• $3

Tags

CCSS.3.OA.D.8

Ms. Ortega earns $850 a week. She pays $52.64 in federal income taxes, $37.09 in state income taxes, and $12.90 in other taxes. How much does Ms. Ortega pay in taxes?

• $49.99

• $12.63

• $102.63

• $747.37

Tags

CCSS.6.NS.B.3

Ms. West’s new garage has a value of $7,000 which increase her home value. Now, the taxes Ms. West pays on her house every year has gone up. What type of tax is she paying?

• Payroll tax

• Income tax

• Property tax

• Sales tax

Tags

CCSS.7.RP.A.2

Valerie wants to use a personal identification number (PIN) to make her purchase more secure. Which method of payment can Valerie use?

• Credit card

• Cash

• Check

• Debit Card

Alicia makes a monthly budget. Her monthly allowance is $25. She makes $35 each month walking her neighbor’s dog. Her monthly expenses are $80. How much does she need to earn from selling her old textbooks to balance her budget?

• $15

• $80

• $60

• $20

Tags

CCSS.3.OA.D.8

The Jefferson family’s monthly income is $2,800. They budget $1,375 for rent, $530 for food, $250 for clothing, $275 for transportation expenses, $300 for savings, and $150 for entertainment. Which of the following changes can be made to balance the Jefferson family’s budget?

• Increase the rent to $3,455.

• Decrease the rent to $1,335.

• Decrease the clothing expense to $170.

• Decrease the clothing expense to $190.

Tags

CCSS.4.OA.A.3

The pay stub shows Rita’s weekly net income and payroll taxes. What is Rita’s weekly gross income?

• $529.95

• $465.95

• $487.75

• $317.55

Tags

CCSS.6.NS.B.3

Theo’s June budget is not balanced. By how much must he reduce expenses to balance his budget?

• $92

• $40

• $47

• $8

Tags

CCSS.7.NS.A.1C

What is payroll tax?

• Money an employer withholds from an employee’s earnings

• Money paid to the federal government

• Money added to the cost of items or services

• Money earned over a period of time

Tags

CCSS.7.RP.A.2

CCSS.7.RP.A.3