4th Grade Financial Literacy

I buy an old chair for $30.I spend $10 for repairs on it. I sell it for $60. What's my profit?

Jo spends $10 a month for gym. Sometimes buys dessert for $2. Fixed expense for the year?

Bob's worm farm: starter worms cost $250, soil $175, food $100. Worms sold for $875. PROFIT?

Jane bought land for $999,999.90 and sold it for $1,000,000. What was her profit?

Which is a reason Alex might go to a bank?

Receipts (how much $ you get), Expenses (COST), Profit: Which describes how we calculate profit?

I sold a shirt for $15. My expenses were $2 for ink and $4 for fabric. How much was my profit?

Which is an example of a Fixed Expense?

Which of these will a bank or other financial institution NOT do?

Why might you keep your money in a bank?

I spend $15 on wheels to put on 4 race cars. I sell each car for $10. What's my profit?

Which is an example of a variable expense?

Weekly karate class $20. New game $34. Weekly loan payment $10.What's the total fixed expenses?

I start a bank account with $100. I deposit $75 more. I then, withdraw $25. What is my balance?