Financial Literacy Review

The amount of money earned over a period of time

An expense that differs from month to month

An expense that is the same amount and cannot easily be changed

A plan that is used to determine how money will be spent

The amount of money earned over a period of time

An expense that differs from month to month

An expense that is the same amount and cannot easily be changed

A plan that is used to determine how money will be spent

Interest earned on the principal

The percent of the principal that is earned in return for loaning the bank funds

The initial deposit into an account

Interest earned on both the principal and any previously earned interest

The value of your assets added to the value of your liabilities.

The value of your assets subtracted from the value of your liabilities.

The value of your liabilities subtracted from the value of your assets.

The value of your assets multiplied by the value of your liabilities.

Interest earned on the principal

The percent of the principal that is earned in return for loaning the bank funds

The initial deposit into an account

Interest earned on both the principal and any previously earned interest

Interest earned on the principal

The percent of the principal that is earned in return for loaning the bank funds

The initial deposit into an account

Interest earned on both the principal and any previously earned interest

The amount of money earned over a period of time

An expense that differs from month to month

An expense that is the same amount and cannot easily be changed

A plan that is used to determine how money will be spent

Interest earned on the principal

The percent of the principal that is earned in return for loaning the bank funds

The initial deposit into an account

Interest earned on both the principal and any previously earned interest

The amount of money earned over a period of time

An expense that differs from month to month

An expense that is the same amount and cannot easily be changed

A plan that is used to determine how money will be spent

140 hours

150 hours

160 hours

170 hours

$130,050

$130,550

$131,125

$131,625

-$3,175

-$3,075

-$3,325

-$3,580

$133,600

$134,150

$133,635

$133,200

20%

12%

16%

30%

More than 50% of Patel’s budget is spent on rent.

Patel is saving more than 10% of her monthly income.

Patel’s car payment and other spending account for more than 25% of her monthly income.

Patel is spending more than 10% of her monthly income on her car payment.

y = 2,550 x 12

y = 2,550 x 52

y = 2,550 ÷ 12

y = 2,550 ÷ 52