Fixed vs. Variable Expenses
Profits
Spending, sharing, and saving
Financial institutions
Previous units
100
What is a fixed expense?
Fixed expenses are costs that remain consistent and predictable over time, typically recurring at regular intervals and with minimal fluctuation in the amount paid.
100
Marla sells handmade purses for $18 each. She spends $6 for fabric, $4 for zippers, and $1 for thread for each purse. How much is her profit, in dollars, on each purse?
$7
100
Steve wants to earn interest on the money he saves. What is the best plan for Steve?
A. Put the money in his piggy bank at home.
B. Keep the money in his wallet.
C. Give the money to his brother.
D. Put the money in a savings account at the bank.
D. Put the money in a savings account at the bank.
100
Describe the basic purpose of financial institutions
To protect your money
100
What type of angle is shown? What does it measure?
Right angle- 90 degrees
200
What is a variable expense?
Variable expenses are costs that change based on usage, consumption, or activity levels, making them harder to predict and budget for than fixed expenses.
200
Rick had $93.41 in his checking account. He deposited $30.00 and used his debit card for purchases of $4.68 and $8.79. What was his ending balance?
$109.94
200
Conner's mom had $716.45 in her bank account. She made a purchase of $20. What is the remaining balance in her account now?
$696.45
200
What does it mean to make a withdrawal?
To take money out of the bank
200
Which data value occurs most often in this stem-and-leaf plot?
23 hours
300
Augustus was online paying bills and noticed his water bill increased by $32 last month. What type of expense is this?
Variable
300
Nina spent $5.68 on materials to make bead necklaces and $2.80 on advertising. She sold 6 necklaces for $2 each. What was her profit?
$3.52
300
Use a strip diagram to represent how you would allocate a weekly allowance of $15 among spending, saving, and sharing.
Answers may vary
300
What is a deposit?
Putting money in your bank account
300
The stem-and-leaf plot shows the average daily temperatures in Lake City for 2 weeks. What is the difference between the highest and lowest temperatures?
32 degrees
400
Last month, the Ortega family spent the amounts shown. What were their total fixed expenses, in dollars?
$908
400
Kabir makes beautiful gemstone necklaces. If he bought $52 worth of supplies and sold 2 necklaces that each cost $42.75, how much money did Kabir profit?
$33.50
400
The Salerno family is starting to save for their child’s college. They decided to open a savings account. List one advantage and one disadvantage for using a savings account for this.
Advantage: Puts the money away and keeps it safe
Disadvantage: low interest rate
400
The amount of money you have in your bank account
balance
400
Calvin drives 1,924 miles over 4 days. He drives the same number of miles each day.
How many miles does Calvin drive each day?
481 miles
500
The school jazz band sold 36 adult tickets to their show for $3 each and 52 student tickets for $2 each. It cost the jazz band $75.28 to put on the show. What was their profit?
136.72
500
What is Trey's profit for one week?
$62
500
Pablo earned $35 shoveling snow. He saved $10, shared $4, and bought a cup of hot chocolate for $1.79. Then he spent the rest of the money he earned on a new snow shovel. How much did he spend on the snow shovel?
$19.21
500
List 3 financial institutions
banks, savings and loans, credit unions
500
A baker is making cakes. It takes 9 eggs to make each cake. The baker has 8 cartons of eggs, and each carton contains 12 egs.
What is the greatest number of cakes the baker can make using these eggs?
10