7th Grade Financial Literacy Flashcards

1

A deposit is

a loan
none of the above
added to the bank account
taken out of the bank account

2

The "t" in compound interest means

tax
none of the above
total
time

3

A deposit of $10,000 that earns 4.5% for four years is

$1800
$1250
none of the above
$2250

4

Assets are $54000, Liabilities are $78,000. What is the net worth?

none of the above
$24,000
-$24,000
$132,000

5

45.8% and 54.2% is

1 Whole
100%
Both 100% and 1 Whole
6%

6

What is the formula for simple interest

I =P(rt)
I = Prt
I = Prt
None of the above

7

A liability is something that a person

None of the above
Doesn't have
Doesn't own
Owns

8

A variable is an expense

that does not change
that can change
none of the above
that come and goes

9

How is 12.5% written as a decimal

12.5
.125
.0125
none of the above

10

A subtotal is the total

before tax
none of the above
after tax
the tax

11

Miscellaneous is an example of

Liability
Variable
Fixed
None of the above

12

75 out of 300 students like pizza. What percent like pizza

75%
None of the above
25%
50%

13

What is mode

average
most
none of the above
middle

14

A loan is an example of a

Liability
Asset
None of the above
Variable Expense

15

A net worth is

Assets - Liabilities
Liabilities - Assets
None of the above
Assets - Variable

16

What does the P stand for in the simple interest formula?

None of the above
Principle
Proportion
Percent

17

Calculate the tax on $2500 at 12.3%

None of the above
$255.30
$520.75
$307.50

18

$25.00 is discounted by 5%. What is the new price?

$32.25
$23.75
$22.50
none of the above

19

Change .0825 to a percent

none of the above
825%
82.5%
8.25%

20

If a person owns jewelry, this would be

none of the above
an asset
a fixed expense
a liability

7th Grade Financial Literacy

Questions 20

7th Grade Financial Literacy

Questions 20