Vocabulary 1
A financial institution that accepts deposits from the public and holds money for safekeeping.
A Bank
John makes $10.50 per hour. If he works 35 hours this week, what is his gross pay?
$367.50
Sam bought 3 pairs of flip-flops for $12.60
$4.20 each
At the toy store you could get 2 board games for $8.36. Online the price for 3 board games is $12.84. Which place has the highest price for a board game?
toy store = $4.18 , online = $4.28
online
A bicycle is on sale for $189.50. The sales tax rate is 5%. What is the total price?
$198.53
A plan for how to spend and save money over a certain period of time
Budget
Andy earns $1,995.75 per month. Below are the deductions that are subtracted from Andy’s monthly paycheck.
FEDERAL DEDUCTIONS
Federal Income Tax $221.65
Social Security Tax $123.74
Medicare Tax $28.94
STATE DEDUCTIONS
State Income Tax $35.00
State Unemployment Insurance and State Disability Insurance $20.50
What is the total amount of federal deductions from Andy’s paycheck?
$374.33
Caleb charges $100 to plow snow out of a driveway 5 times
$20 each time
At the market you can buy 5 bags of apples for $23.60. At the orchard you can get 7 bags of apples for $32.76. Which is the better deal?
market = $4.72 , orchard = $4.68
orchard
Megan bought 50 beads for $9.95. She paid a sales tax of 6%. How much did she pay for the beads?
$10.55
the money you make BEFORE taxes
What is gross income?
Andy earns $1,995.75 per month. Below are the deductions that are subtracted from Andy’s monthly paycheck.
FEDERAL DEDUCTIONS
Federal Income Tax $221.65
Social Security Tax $123.74
Medicare Tax $28.94
STATE DEDUCTIONS
State Income Tax $35.00
State Unemployment Insurance and State Disability Insurance $20.50
What is the total amount of state deductions from Andy’s paycheck?
$55.50
A dozen eggs cost $2.60
$0.21666= $0.22/ egg
A book store was selling 5 books for $26.35. Online the you could buy 2 books for $10.58. Which place has a lower unit price?
book store = $5.27 , online = $5.29
book store
Eric bought a canoe for $333.75. The sales tax was 5.25%. What was his total cost?
$351.27
the money you make AFTER taxes
What is net income?
Andy earns $1,995.75 per month. Below are the deductions that are subtracted from Andy’s monthly paycheck.
FEDERAL DEDUCTIONS
Federal Income Tax $221.65
Social Security Tax $123.74
Medicare Tax $28.94
STATE DEDUCTIONS
State Income Tax $35.00
State Unemployment Insurance and State Disability Insurance $20.50
What is Andy's NET Income?
$1565.92
Xin works at a laundromat. For an extra fee he will fold the freshly cleaned laundry. He charges $5.00 for 30 items.
$0.1666666= $0.17/item
A store had 4 blue chairs for $73.48 or 5 red chairs for $91.40. Which color chair has a lower unit price?
blue = $18.37 , red = $18.28
red
A snowmobile is priced at $2,800. The sales tax rate is 8.25%. What is the total price including tax?
$3031
Name at least 2 types of taxes.
Income Tax, Sales Tax, Property Tax, Federal Tax, State Tax, Social Security, Medicare
Chris grossed $1,032.51 this pay period. He had income tax ($90.81), Insurance ($16.83), retirement ($61.43), and vision/dental ($101.99) deducted from his income. How much money net income will be deposited into his bank account?
Chris will have $761.45 deposited into his bank account.
A small paperback book costs $4.80. Miss Bates wants to purchase 30 copies for her class. How much will this cost?
$144
A fast food restaurant had 7 boxes of chicken nuggets for $25.90. A competing restaurant had 3 boxes of chicken fingers for $11.07. Which food has a higher unit price?
nuggets = $3.70 , fingers = $3.69
nuggets
Rick bought 3 shirts for $18 each, 2 pair of socks for $3.99 a pair, and a pair of slacks for $45.00. The sales tax rate is 8.5%. How much did he pay?
$77.01