Transitional Math Midterm

What does ATM stand for?

• Automated Teller Machine

• Automatic Teller Machine

• Auto Transaction Machine

• Automated Teller Mechanism

Name two services that banks provide.

• Checking

• Taxes

• Payroll

• Student Loans

Your purchase is $14.59.

Using the dollar up method, how much would you give the cashier?

• $14.59

• $14.60

• $14.00

• $15.00

True/ False: A budget is a plan for spending money

• True

• False

Your biweekly paycheck is $237.48

What is your weekly income?

Which of the following are Needs?

• Groceries

• Playstation

• Rent

• Concert Tickets

• Tuition

A Down Payment is the _______ you pay towards the cost when using a car loan.

• money

• cost

• difference

• maintenance

The car you want to buy costs $12,500. At 5.5% interest you would pay back a total of $13,187.50. How much interest would you pay?

• $550

• $12,500

• $687.50

• $13,187.50

What is one reason someone might want to buy a car?

• To increase their savings.

• To increase their independence.

• To lower their income.

What is the purpose of paying a tip?

• To lower the cost of the bill.

• To increase the sales tax.

• To show the person providing the service that you appreciate their time.

• Because it is required by law.