Calculating Gross Pay
Jimmy works 15 hours a week for $9.50 an hour. What is his gross pay?
$142.50
Equation: 15 × 9.50
Which of the following statements are TRUE about credit cards? I. When you use a credit card, the money comes directly out of your account. II. Credit cards typically offer more fraud protection than debit cards. III. Transactions made with a credit card can impact your credit score.
What is Statements II & III?
A sum of money taken from an account.
What is withdrawal?
What does it mean to have stock in a company?
To own part of the company.
Something, typically money, that is owed or due.
What is debt?
Cassie gets paid bi-weekly. She worked 34 hours one week and 27 hours the next. She makes $10.25 per hour. How much did she make?
$625.25
Equation:
(34 × 10.25) + (27 × 10.25)
You should expect to provide your Social Security number in this scenario.
What is applying for federal student aid?
A sum of money placed or kept in a bank account, usually to gain interest.
What is a deposit?
This type of bond is the safest.
What is U.S. Treasury Bond?
This is issued by a bank, business, etc., allowing the holder to purchase goods or services on credit.
What is a Credit Card?
Ann worked 45 hours this week. She gets paid $11 an hour, and $16.50 on overtime. How much did she earn?
$522.50
Equation:
(40 × 11) + (16.5 × 5)
These taxes are charged on items at the time of purchase.
What is sales tax?
A deficit in a bank account caused by drawing more money than the account holds.
What is overdraft?
If interest rates go down, then bond prices do this.
What is go up?
This is issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.
What is a debit card?
Jordan gets paid every 2 weeks. This week, he will work 47 hours. Next week, he will work 56 hours. He makes $12.25 per hour. How much does he make?
$1402.74
Equation:
(18.38 × (7 + 16)) + (12.25 × 80)
There are nine chapters in Everfi. Savings, Banking, Payment Types, Credit Scores, Higher Education, Renting vs. Owning, Insurance & Taxes, Consumer Protection, and ____.
What is Investing?
Any government system that provides monetary assistance to people with an inadequate or no income.
What is social security?
True or False: In general, investments that are riskier tend to provide higher returns over time than investments with less risk.
True
A check made by writing “For deposit only” on the back of the check, then write your name on the next line.
What is a restrictive check?
Edward worked 56 hours this week. He is paid $21.50 an hour. How much did he make?
$1376
Equation:
(32.25 × 16) + (21.5 × 40)
When would you need to use the Rule of 72?
To find out how long it will take your money to double.
A term that covers managing your money and saving and investing. It encompasses budgeting, banking, insurance, mortgages, investments, retirement planning, and tax and estate planning. It often refers to the entire industry that provides financial services to individuals and households and advises them about financial and investment opportunities.
What is personal finance?
If a company files for bankruptcy, these securities are at risk of becoming virtually worthless.
What is the company's common stock?
Endorsing a check, depositing checks and cash, and direct deposit.
What are all of the ways to deposit money into your account?