Financial Literacy 7th grade Unit 11

Phillip created the net worth statement shown. Based on the information in the statement, what is Phillip's net worth?

• $184,500

• $41,500

Tags

CCSS.7.NS.A.1B

The table shows Peter's net worth statement. Assets are shown as positive numbers, and liabilities are shown as negative numbers. The value of Peter's house is not given. Peter's net worth is $101,800. Based on the information in the table, what is the current value of Peter's house?

• $58,600

• $78,300

• $98,000

• $82,100

Tags

CCSS.7.NS.A.3

Henry bought a book for $10.30, and the sales tax was 8.25%. How much sales tax did Henry Pay on the book?

• $0.75

• $0.85

• $0.88

• $0.77

Tags

CCSS.6.RP.A.3C

Each pay period, Rashida's taxable income is $600.71. If her federal income tax rate is 11%, then how much money does she pay each pay period in federal income taxes?

• $68.08

• $67.08

• $72.09

• $66.08

Tags

CCSS.6.RP.A.3B

What percent of Sherri's total budget is put into cable and cell phone?

• 5%

• 9%

• 13%

• 17%

Tags

CCSS.6.RP.A.3C

Which statement IS supported by the information in the table?

• More than 1/2 of Sherri's monthly income is spent on rent.

• Sherri puts 15% of her monthly income into savings.

• More than 1/4 of Sherri's monthly income is spent on utilities , cable and groceries.

• Sherri spends 14% of her monthly income on her cell phone and other expenses.

Tags

CCSS.6.RP.A.3C

Felicia and her sister move to a big city and need to find a place to live. They each can afford $550 per month for housing expenses, including utilities. They look at the apartment choices listed.

Which apartments can Felicia and her sister afford to rent?

• II, III, and IV

• III and IV

• II and III

• I and II

Julie budgets $600 of expenses each month. What percent of her budget does she spend on her car?

• 10%

• 25%

• 50%

• 300%

In Oscar's monthly budget, each category is assigned a certain percentage of his monthly income. Oscar's monthly income is $2,250. Which statement is NOT supported by the information in the table?

• Oscar puts $360 of his monthly income into savings.

• Less than $900 of Oscar's monthly income is for his house payment and life insurance.

• Oscar budgets $485 of his monthly income for telephone, utilities, and emergencies.

• More than $530 of Oscar's monthly income is for his car payment abd car insurance.

Tags

CCSS.6.RP.A.3C

Randy earned $64,669.00 of taxable income last year. If the federal income tax rate was 24%, then how much federal income tax did Randy pay on his taxable income last year?

• $14,873.87

• $16,813.94

• $16,167.25

• $15,520.56

Tags

CCSS.7.RP.A.3