Mrs. Hayakawa works six blocks from her home, Monday through Friday. The one-way bus trip costs $2.40. Identify the benefit if she walks to and from work instead of riding the bus for five weeks. (1 point)
• Mrs: Hayakawa would save $120.
• Mrs. Hayakawa would save $60.
• Mrs. Hayakawa would save $168.
• Mrs. Hayakawa would save $24.
If Mrs. Hayakawa walks to and from work instead of riding the bus for five weeks, she would save $168.
Chanille has a credit card with a $6,000 limit. She charges $750 every month for clothes, but she can only pay back $300 a month. How many months until her card reaches or exceeds its limit? (1 point)
• 20 months
• 13 months
• 8 months
• 14 months
It would take Chanille 20 months for her credit card to reach or exceed its limit.
Alysha's monthly income is $1,500. She is currently renting an apartment for $750 a month. She wants to buy a house. The mortgage would be $1,350 a month. Analyze her decision and state why such a financial decision is responsible or irresponsible. (1 point)
Alysha's decision is responsible. Owning a home will stabilize her finances when she no longer has to pay rent:
Alysha's decision is irresponsible. With a mortgage payment taking up 90% of her income, she will likely have difficulty making payments.
• Alysha's decision is irresponsible. Her home may depreciate in value after she buys it.
• Alysha's decision is irresponsible. She should only buy a home if she can pay cash for it.
Alysha's decision is irresponsible. With a mortgage payment taking up 90% of her income, she will likely have difficulty making payments.
What is the surest sign that your financial decision is irresponsible? (1 point)
• You cannot afford to lose the money you spend or invest.
• The investment involves the stock market.
• There is a possibility of gain, but also a risk of loss.
• The investment is in a startup company.
The surest sign that your financial decision is irresponsible is if you cannot afford to lose the money you spend or invest.
Which decision stands the best chance of returning a profit in the future? (1 point)
• buying a painting by a young artist with a rising reputation
• downloading every song by your favorite singer
O buying a choice selection of video games
• downloading every movie by your favorite actor