Functional Math: Life Skills 2

What is the main difference between gross pay and net pay?

• Gross pay is your income after taxes, while net pay is before taxes.

• Gross pay includes your total earnings before any deductions, while net pay is what you receive after deductions.

• Gross pay is calculated weekly, while net pay is calculated monthly.

• There is no difference; both terms mean the same thing.

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DOK Level 1: Recall

If Aiden Swieneski works 35 hours a week and earn $15 per hour, how much is his gross pay for the week?

• $525

• $450

• $550

• $500

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DOK Level 2: Skill/Concept

Even as a teenager, why is it important to set financial goals?

• To ensure you can buy everything you want.

• To plan for future financial needs and track spending.

• To make sure you work every day.

• To impress others with your money management skills.

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DOK Level 2: Skill/Concept

What is a budget?

• A plan for spending money on entertainment only.

• A list of friends to borrow money from.

• A plan for spending, saving, and managing money.

• A record of past purchases.

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DOK Level 1: Recall

If Julia buys Sox tickets that cost $120 and the sales tax rate is 8%, how much does Julz have to pay in sales tax?

• $9.60

• $10.00

• $9.80

• $9.40

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DOK Level 2: Skill/Concept

What is the primary difference between a debit card and a credit card?

• A debit card allows you to borrow money, while a credit card uses money from your bank account.

• A debit card uses money directly from your bank account, while a credit card allows you to borrow money from the card issuer.

• There is no difference; both cards do the same thing.

• A debit card has no spending limit, while a credit card has a fixed limit.

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DOK Level 1: Recall

Ben wants to save $200 to buy Dungeons and Dragons games for him and his friends in 4 months. How much should Ben save each month?

• $40

• $50

• $60

• $70

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DOK Level 2: Skill/Concept

If Sara's preppy lattes at Starbucks costs $28 and she want to leave a 15% tip, how much is the tip?

• $4.20

• $4.00

• $4.50

• $4.30

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DOK Level 2: Skill/Concept

What does it mean to balance a budget?

• To spend more than you earn.

• To earn more than you spend.

• To ensure your expenses do not exceed your income.

• To borrow money to cover deficits.

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DOK Level 3: Strategic Thinking

When Kenzie is not being a pirate, she earns $10 per hour and works 6 hours a day. If she works 5 days a week, what is her weekly income?

• $200

• $300

• $400

• $500

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DOK Level 2: Skill/Concept