Which is an example of a variable expense?
1. house rent 2. food 3. house mortgage 4. car payment
Use the table to answer the question.
Items | Cost
food and groceries |$821.33
medical |$751.33
housing |$1,324.17
transportation |$1,251.00
monthly taxes |$882.58
other necessities |$745.67
The table shows the monthly basic needs budget for a 2-child family with 1 working adult in Fort Worth, Texas.
Determine what hourly wage, working full-time, is required to meet the family’s basic needs. Round to the nearest hundredth.
$_
For a family of 4, the estimated monthly cost of living in Fort Worth, Texas is $3,784. If there are 2 full-time working adults in the family, what is the average hourly living wage of each in order to support their basic needs? Round your answer to the nearest hundredth.
$_
You have a sneaker collection worth $2,000, and you have $300 in your savings account. But you also have a credit card balance of $200. What are your total assets?
1. $500
2. $2,500
3. $2,300
4. $2,000
Given $125,000 in total liabilities and $100,000 in total assets, what is the net worth?
1. $25,000
2. $225,000
3. −$25,000
4. −$15,000
Gina loaned Gerry $300 at an interest rate of 10 percent a year. How much interest will Gina get if Gerry pays Gina after 6 months?
$_
Calculate the simple interest on a $100,000 investment at an interest rate of 12 percent a year after 6 months.
1. $600,000
2. $72,000
3. $6,000
4. $7,200,000
Find the value after five years of a $3,000 savings account that pays 3% interest compounded yearly. Round the answer to two decimal places.
$_
Find the balance after 10 years of a $30,000 savings account that pays 10% interest compounded yearly.
1. $112,070.90
2. $77,812.27
3. $2,245,256.05
4. $33,154.81
Between simple interest at 8% and compound interest at 9%, find the higher resulting balance after investing $500 for a period of 10 years. Round the answer to two decimal places.
The higher resulting balance after investing $500 for a period of 10 years is $_
Aria is investing $6,700 of her savings from her summer job for her college fund. She is planning to invest the amount for 3 years and can choose between simple interest at 6.5% and compound interest at 6%. Find the difference between the two interest earning types to help Aria decide which investing option is best for her.
1. Aria should invest with 6.5% simple interest because it will result in $187.26 more in interest earnings.
2. Aria should invest with 6.5% simple interest because it will result in $26.69 more in interest earnings.
3. Aria should invest with 6% compound interest because it will result in $86.76 more in interest earnings.
4. Aria should invest with 6% compound interest because it will result in $73.81 more in interest earnings.
Analyze the incentive as shown here to find the total price when two medium one-topping pizzas are purchased with the incentive.
“1 one-topping medium pizza for $7.99 or 2 one-topping medium pizzas for $6.49 each.”
1. $14.48
2. $3
3. $15.98
4. $12.98
Consider the following two monetary incentives when purchasing a desktop computer at the regular price of $299.
Incentive 1. 25% Off All Desktops with Regular Price of $200 or More.
---------------------- or
Incentive 2. $70 Rebate on Any Purchase of $200 or More.
Find the final price of the better incentive, after the discount has been applied. Round the answer to two decimal places.
The final price of the computer after the discount from the better incentive has been applied is $_
Kyle wants to purchase 20 prefilled decorated eggs to set up an egg hunt for his nephews and nieces. Each egg is priced at $5.00, and the store offers two different incentives.
Incentive 1: Purchase any set of 3 prefilled eggs for $12.
------------------ or
Incentive 2: Take 20% off your entire purchase.
Determine whether incentive 1 or incentive 2 offers a better discount.
Find the discount amount. Round the answer to two decimal places as necessary.
Incentive _ offers a better discount. The discount amount of this incentive is $_
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