Mia works five days a week for 8 hours each day. Chris works three days a week for 4 hours each day. Which is correct?

Mia makes more money than Chris because Mia works more hours

Andy borrowed $6,000 from the bank to repair his roof. He paid $6,500 back to the bank. Why did he pay them back more?

He had to pay interest on the amount he borrowed

The hospital pays the nurse for the work the nurse does. How does the hospital know how much to pay the nurse?

The number of hours the nurse works

Chickens got sick on a farm. This will have an effect on the price of eggs. Which statement is true?

The price will increase because there are fewer eggs available

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Financial Literacy

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Questions 8

Answers

1
Sarah is building a garden house in her yard, but does not have enough money. What can she do?
Pay sales tax on the materials to have it built
None of the above
Borrow money from the bank
Pay a company to build it
2
Mia works five days a week for 8 hours each day. Chris works three days a week for 4 hours each day. Which is correct?
Mia makes more money than Chris because Chris works more hours
Mia makes more money than Chris because Mia works more hours
Chris makes more money than Mia because Mia works more hours
Chris makes more money than Mia because Chris works less hours
3
Andy borrowed $6,000 from the bank to repair his roof. He paid $6,500 back to the bank. Why did he pay them back more?
He had to pay interest on the amount he borrowed
He had to pay sales tax on the amount he borrowed
He needed more money from the bank for the repairs
He made a mistake in calculating the amount
4
Which of the following would be a reason to put money in savings?
Purchase a car
Pay for unplanned expenses such as emergencies
Pay for college
All of the above
5
The hospital pays the nurse for the work the nurse does. How does the hospital know how much to pay the nurse?
How close the nurse lives to the hospital
The number of hours the nurse works
The amount of kindness that the nurse shows patients
The size of the nurse's family
6
Ashton was saving money to buy shoes. He had to spend some money on a library book he lost. What is this an example of?
Borrowing money
Unplanned spending
Saving money
Planned spending
7
Valerie received her weekly allowance of $10. She purchased a movie ticket. What financial decision did Valerie make?
She chose to spend money
She chose to use credit
She chose to save money
She chose to be charitable and give money
8
Chickens got sick on a farm. This will have an effect on the price of eggs. Which statement is true?
The price will decrease because there are fewer eggs available
The price will increase because there are more eggs available
The price will increase because there are fewer eggs available
The price will decrease because there are more eggs available

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