Unit 1

If you have a total income of $5000 and total expenses of $3700, what is your final balance?

• $1500

• $1300

• $1100

• $900

If you spend $250 on groceries, $80 on gas, $70 on clothes, and $90 on other expenses, what are your total expenses?

• $490

• $530

• $375

• $565

If Kelly wants to buy a new phone for $900 in 7 months from now, how much money should she save every month?

• $100

• $128.57

• $137.62

• $120

If Jim was to buy Pam a wedding ring for $12,000 he would need a loan. He knows he can get a loan with 8.7% interest. How much would he end up paying in interest?

• $1,044

• $1230

• $984

• $1352

If Andy were to buy a new Prius for $15,000 with a 6.2% interest rate on the loan, how much would he pay including interest?

• $15,930

• $16,250

• $15,326

• $15,555

What is the most important bill you have to take care of ?

• House

• Entertainment

• Car

• None Of The Above

What is the most important bill you have to take care of ?

• House

• Entertainment

• Car

• None Of The Above

A bank account that allows withdrawals by writing a check.

• Credit Card

• Checking Account

• Expense Account

• Withdraw

• Cash Account

Preparing a budget includes

• Income, Expenses, Saving
• Only listing your expenses
• Only listing your debts
• Only listing your income

Which of the following are needs?

• Food

• Video Games

• Clothing

• Car

• Microwave Oven