11. Personal Financial Literacy Unit Study Guide

#1) The Bureau of Labor and Statistics shows the 2016 median annual salary associated with each occupation below. Use the information to complete the earning potential after 10 and 30 years.

a. How much more will a paramedic make than a retail clerk over a period of 30 years?

Mathematical Equivalence

ON

#1) The Bureau of Labor and Statistics shows the 2016 median annual salary associated with each occupation below. Use the information to complete the earning potential after 10 and 30 years.

b. How much more will a veterinarian make than a postal worker over a period of 10 years?

Mathematical Equivalence

ON

#1) The Bureau of Labor and Statistics shows the 2016 median annual salary associated with each occupation below. Use the information to complete the earning potential after 10 and 30 years.

c. How much more will a television producer make than a postal worker over a period of 30 years?

Mathematical Equivalence

ON

#2) Use the information below to compare First Texas Bank, Republic Bank and Lone Star Bank. Then, suggest a bank for each person below.

• First Texas Bank: no monthly fee, $3 per check fee

• Republic Bank: $5 monthly fee

• Lone Star Bank: 0.5% of checking account balance

​ (a)   a. Joanna typically has $600 in her bank account and usually writes three checks per month.

​ (b)   b. Tamara typically has $900 in her bank account and doesn’t write checks.

​ ​ (c)   c. Devon typically has $2,000 in his bank account and usually writes six checks per month.

​ (d)   d. Reece typically has $250 in her bank account and usually writes one check per month.

• Lone Star Bank (use 1st)
• First Texas Bank
• Republic Bank
• Lone Star Bank (use 2nd)

#3) Use your knowledge of debit cards and credit cards to complete the table below.

a

b

c

d

e

f

g

h

Yes

No

$ in checking account

immediately

at a later date

the credit limit

$50 plus interest

$50

#4) Felix is organizing the receipts and pay stubs from the past week. Use the details below to organize them into the check register. Be sure to complete all the necessary lines on the register.

• On 8/2, Chelsea’s account balance was $467.80

• On 8/6, Chelsea went grocery shopping at Kroger. She spent $95.20 in groceries.

• On 8/7, Chelsea paid her internet bill to Communications for $63.40.

• On 8/9, Chelsea went to TMC movies for $22.50.

• On 8/9, Chelsea received $150.00 for her birthday.

What was the beginning balance on 8/2 (before any deposits or withdrawals)?

Mathematical Equivalence

ON

#4) Felix is organizing the receipts and pay stubs from the past week. Use the details below to organize them into the check register. Be sure to complete all the necessary lines on the register.

• On 8/2, Chelsea’s account balance was $467.80

• On 8/6, Chelsea went grocery shopping at Kroger. She spent $95.20 in groceries.

• On 8/7, Chelsea paid her internet bill to Communications for $63.40.

• On 8/9, Chelsea went to TMC movies for $22.50.

• On 8/9, Chelsea received $150.00 for her birthday.

What was the balance on 8/6?

Mathematical Equivalence

ON

#4) Felix is organizing the receipts and pay stubs from the past week. Use the details below to organize them into the check register. Be sure to complete all the necessary lines on the register.

• On 8/2, Chelsea’s account balance was $467.80

• On 8/6, Chelsea went grocery shopping at Kroger. She spent $95.20 in groceries.

• On 8/7, Chelsea paid her internet bill to Communications for $63.40.

• On 8/9, Chelsea went to TMC movies for $22.50.

• On 8/9, Chelsea received $150.00 for her birthday.

What was the balance on 8/7?

Mathematical Equivalence

ON

#4) Felix is organizing the receipts and pay stubs from the past week. Use the details below to organize them into the check register. Be sure to complete all the necessary lines on the register.

• On 8/2, Chelsea’s account balance was $467.80

• On 8/6, Chelsea went grocery shopping at Kroger. She spent $95.20 in groceries.

• On 8/7, Chelsea paid her internet bill to Communications for $63.40.

• On 8/9, Chelsea went to TMC movies for $22.50.

• On 8/9, Chelsea received $150.00 for her birthday.

What was the balance on 8/9 (after the withdrawal and deposit)? What was the ending balance on the check register?

Mathematical Equivalence

ON

5. Use your understanding of a check register to define the following terms, then give an example.

• taking money out of your account

• d. balance

• putting money into your account

• c. transfer

• the amount of funds available in your account

• b. withdrawal

• moving money from one account to another

• a. deposit