Financial literacy unit 13

The table shows the amounts Mr. Jefferson paid for different expenses during the last four months.

Which expenses were variable expenses for Mr. Jefferson during these four months? Select all the correct answers.

• Groceries

• Cell phone

• Rent

• Electricity

• None of the above

Shirley makes and sells friendship bracelets. The cost of Shirley’s materials is 75.00. Shirley sells 25 friendship bracelets. She sells each friendship bracelet for $7.00. How much profit does Shirley make?

Most people borrow money to buy a house. They have to make mortgage payments to pay back the money they borrowed. What kind of expenses are most mortgage payments?

• F Variable expenses, because the amount usually changes every month

• Variable expenses, because the payment is not due every month

• Fixed expenses, because the amount is usually the same every month

• Fixed expenses, because the house is usually paid for after one month

Caleb sold cupcakes during the annual talent show at his school. The cost of making cupcakes was $25.87. The money he received from the sale of the cupcakes was $144.00. What was Caleb’s profit?

• $169.87

• $144.00

• $118.13

• $25.87

William has $125 saved from doing extra chores and jobs around the house. His mom takes him to the bank to open a savings account. What are some advantages to keeping his money in the bank rather than at his home?

• He will get a puppy from the bank.

• His money will be safe.

• The bank will let him be president

• He will earn interest on his money.