Financial Math pt1
Tina pays her neighbor $18 a week to water her plants. What kind of expense is this?
Fixed Expense
If someone orders something online and has to pay shipping, what kind of expense is this?
Variable Expense
The amount on a card
Balance?
What two ways can you access your checking account?
In person or Online
Where does the money come from when talking about credit cards?
The credit card company or the bank
The place that lends money to people and businesses and also keeps your money safe is called a what?
Bank, credit union or loan association
Terry pays a company each month to maintain her website for her. This is an example of what type of expense?
Fixed Expense
The amount of money earned before deductions.
Gross Income
If you want to save money for college tuition, which type of account would you use?
Savings Account
Where does money come from when your using your debit card
Your own checking account
Eddy saves three dollars each week in a piggy bank so he can buy a skateboard later. What is an advantage to using a piggy bank?
The money is easy to access.
Emma saves $10 each week so she can buy a bicycle when she has saved enough money. If the bicycles costs $87, how many weeks will it take her to earn enough money to buy the bicycle?
9 weeks
The initial amount of money borrowed from a loan or placed in an investment
Principal
This type of account typically earns interest and allows limited withdrawals, aimed at saving money
Savings account
What is the difference between a credit card and a debit card?
You are borrowing money when using a credit card to then pay it back while a debit card is you spending your own money
A toy store spends $3,000 a week on advertising. How much does the toy store spend on advertising in a 8 week time period?
$24,000
Malinda has a Gross wage of $880 per week. Her deductions include $4.40 for union fees, $15.65 for superannuation and $5.34 for the social club. What is the total amount for her deductions?
What is $25.39?
A written, dated, and signed order to the bank that tells it to pay a definite sum of money to a payee
Check
This term refers to a fee that can be charged by a bank when the account balance falls below a specific amount in a checking account
Overdraft fees
Which of them has fraud protection?
BOTH! most credit and debit cards have fraud protection
If Tommy earns $30 each week and plans on donating $5 dollars each week to a local children's hospital. How much will he donate in a year?
$260
Cora sells bracelets at a store in the mall. She sells each bracelet for $15. How much will she make if she sells 35 on Saturday?
$525.00
An automatic electronic deposit of net pay to an employee's designated bank account
Direct Deposit
How much funds are insured by the Federal Deposit Insurance Corporation(FDIC)
$250,000
What is Credit score?
Numerical representation of a person's creditworthiness (a number that tells you how often you pay it back)