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7th Math Mixed Review: Financial Literacy, Probability, Surface Area Flashcards | StudBud
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7th Math Mixed Review: Financial Literacy, Probability, Surface Area
7th Math Mixed Review: Financial Literacy, Probability, Surface Area
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7th Grade Financial Literacy Unit Review
Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
Determine the total amount of liabilities in the table below.
$36,582.80
$32,582.80
$30,582.80
$35,582.80
2
Determine the lateral surface area of the following net.
96 in2
57 in2
105 in2
48 in2
3
What are fixed expenses?
expenses that remain the same each month
expenses that vary from month to month
expenses that adjust from month to month
expenses that depend upon your monthly salary
4
If a marble is drawn 90 times, how many times can you
predict
drawing a red marble?
54
56
52
50
5
Which of the following is considered a variable expense?
insurance
groceries
car payment
mortgage
6
Which of the following is considered a liability?
credit card balance
value of a car
monthly gym membership fee
retirement account
7
What is the probability of selecting a red marble three times, without replacement?
3/10
1/10
9/25
2/10
8
You spin the spinner 120 times. Predict the number of times it will land on blue or purple?
78
72
75
70
9
I deposit $400 into an account with 5% simple interest. How much interest after 10 years?
$200
$2,000
$20,000
10
What is the probability of selecting a red marble, twice, without replacement?
3/10
2/10
1/10
9/25
11
What are expenses?
items that are too expensive
it is also called net income
things that you pay for
the expendables
12
How do you calculate a person's net income?
Net Income + Deductions
Gross Pay - Salary
Gross Pay - Deductions
Gross Pay - Net Income
13
You spin the spinner 120 times. Predict the number of times it will land on yellow or red?
48
42
50
45
14
How do you find a family's net worth?
Gross Income - Deductions
Total Assets - Total Liabilities
Total Assets - Total Deductions
Total Assets - Monthly Expenses
15
Define net income...
your family's net worth statement
amount of money you receive after deductions
amount of money before deductions
income tax
16
If a marble is drawn 60 times, how many times can you
predict
drawing a blue marble?
24
20
26
22
17
Gross pay is...
amount of money you earn before deductions
something nasty obviously
amount of money earned after deductions
IDK
18
A rebate is...
A discount/Refund
An asset/something you own
A tax/something you pay
A liability/something you owe
19
What is 7.25% represented as a decimal?
0.0725
7.25
0.725
0.00725
20
Determine the total surface area of the following net.
48 in2
105 in2
57 in2
96 in2
21
If the Social Security tax rate is 1.45%, how much would be withheld from a gross pay of $217?
$3.14
$31.47
$31.46
$3.15
22
Which of the following is not a tax that is withheld from earnings?
income tax
medicare tax
social security tax
sales tax
23
What is the probability of selecting a blue marble, twice, without replacement?
9/25
3/10
1/10
2/10
24
Which of the following expenses is considered a
Fixed Expense
?
Rent
Food
Nail Salon
Entertainment
25
What is 25% represented as a decimal?
0.25
25
2.5
0.025
26
Determine the total amount of assets in the table below.
$12,040.65
$12,040
$1,243.65
$12,043.65
27
I deposit $25 into an account with 2% compound interest. How much total money after 3 years?
25 (1.2)3
25(1.02)2
1 (25.2)3
25(1.02)3
28
What is a budget?
A rental car company
a plan to manage income and expenses
when you spend more than you have
a monthly expense
29
Determine this person's net worth based on their liabilities and assets.
$24,539.15
$22,539.15
$20,539.15
$25, 539.15
30
Jan's wants to purchase a TV for $250. If it has a rebate of 18%, how much does the TV cost?
$205
$245.50
$232
$268
