Financial Literacy

Elijah bought a pair of boots for $80 and a shirt for $20. The sales tax is 5%. How much did Elijah pay for all the items, including tax?

• $100

• $1600

• $105

• $150

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7.13.A

Kaiten has a gross income of $2000.

Federal Withholding is 10% which is ​ (a)   .

Social Security is 6% which is ​ (b)   .

Medicare is 2% which is ​ (c)   .

• $200
• $120
• $40
• $100
• $400
• $60
• $20
• $333
• $1000

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7.13.A

Katherine deposits $1000 into a savings account that earns simple interest at a rate of 3%. She makes no withdrawals. How much interest has Katherine’s account earned after 2 years?

• $30

• $100

• $60

• $600

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7.13.E

Noah can purchase 10 lbs of hamburger meat from several different sellers. Which is the cheapest option?

• Buy online for $50 plus pay shipping and handling costs of $1 for each pound.

• Buy from 3T Meats for $70 with a 20% friend discount.

• Buy at Stewart's where the price is $60 and use a $5-off coupon.

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7.13.F

Pedro deposits $100 into a savings account that earns 5% simple interest. If he leaves the account alone for 20 years, how much total money will be in the account?

• $2000

• $100

• $200

• $1000

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7.13.E

Mr. Quiz is going to buy a new car. He can't decide which is the cheaper price. A deal that is $20,000 with a 20% discount, or a deal that is $20,000 with $4000 off. Which is the cheaper deal?

• 20% Discount

• $4000 Off

• They are the same deal.

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7.13.F

Raiden buys a new Cybertruck for $60,000. If the sales tax rate is 8%, how much is the tax on that new Cybertruck?

• $4800

• $6000

• $9000

• $48000

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7.13.A

Lil Quiz gets paid $100,000 a month for his Soundcloud raps. If federal withholding is 20%, how much does he pay each month in taxes?

Mathematical Equivalence

ON

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7.13.A

Mr. Quiz's total assets are worth $1,200,000. He has liabilities that total $200,000. What is Mr. Quiz's net worth?

• $1,000,000

• $800,000

• $1,400,000

• $2,000,000

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7.13.C

Which of the following is an asset?

• Credit Card Debt

• Car Loan

• House Mortgage

• Checking Account

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7.13.C