WMMM - Unit 1 Test Review

Savings

100

Roger spent $350 in August. He spent $200 in September. How much did he save? 

$150

200

Who spent more: 

Student C

• electricity ($100)

• food ($150)

• water ($0 – tap water)

• a phone ($80)

• a home ($700 rent)

• socks ($30)

• shoes ($250)

Student D

• electricity ($0 – lives at home)

• food ($200)

• a car ($575)

• water ($80)

• a phone ($75)

• a home ($0 – lives at home)

• shoes ($60)

Student C

300

If Roger saves $50 every month for a year, how much will he save?

$600

400

Find Owen's annual savings if he saves $25 per week. 

$1,300

500

Find Ryan's monthly savings if he saves $30 each week. Remember, there are not 4 weeks in a month. 

$130

Pay Schedules

100

Paid Monthly

Paid Weekly

Paid Annually  

12

52

1

200

Biweekly

Semimonthly

Quarterly 

26

24

4

300

Michael is paid $15 per hour and works 12 hours per week. How much does he make weekly?

$180

400

Michael is paid $15 per hour and works 50 hours per week. How much does he make weekly if he makes time and a half for hours worked over 40? 

Regular pay: $600

Overtime pay rate: $22.5 x 10 hours over 40 = $250

Total pay: $825

500

Rico is paid $900 weekly. Calculate his annual and monthly income. 

Annual: $46,800

Monthly: 3,900

DeductionsNetGross

100

Find the total deductions: 

Medicare $9.60 

Social Security $41.61 

Federal Income Tax $64.01 

State Income Tax $35.20 

Health Insurance $37

$187.42

200

Find the net pay if the gross pay is $500 and the deductions are $180 each month. 

$320

300

Estimate net pay if gross pay is $89,000

$62,300

400

Who makes more if they both work 2,000 hours each week: 

Joe: $50,000 per year 

Maple: $20 per hour

Joe: $50,000 per year 

500

Who makes more if they both work 2,000 hours each week: 

Murry: $35.50 per hour 

Marge: $70,000 per hour

Murry

Budgets

100

Net Monthly: $3,800

What is the most I spend on food each month? (20%)

$760

200

Calculate each amount based on the budget guidelines for a net income of $2,500. 

Housing, 30%

Transportation, 11%

Clothes, 5%

Housing, $750

Transportation, $275

Clothes, $125

300

Net monthly income is $3,000. My rent is $1,200. What percentage of my net income is spent on rent?

40%

400

Net annual income is $30,000. My rent is $900. What percentage of my net monthly income is spent on rent?

36%

500

My rent is $3,000, and I earn $5,600. If I split the rent equally with a roommate, does the rent stay within the budget guidelines? 

Yes, 27%