Importance of Math in Money Management
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Questions and Answers

If you contribute $40 to a party budget and there are eight contributors in total, how much is the total budget for the party?

  • $360
  • $280
  • $320 (correct)
  • $400
  • What is a common application of multiplying money by decimals according to the text?

  • Determining individual contributions
  • Contributing to a mutual fund
  • Calculating party budgets
  • Calculating sales tax (correct)
  • To calculate sales tax, what do you need to multiply by the tax rate as a decimal?

  • Individual contribution
  • Total budget
  • Total price of the item (correct)
  • Interest rate
  • If you put $100 in a savings account with a 1% interest rate, how much money would you make that year?

    <p>$1</p> Signup and view all the answers

    What happens if you put $100 in a mutual fund with a 15% interest rate?

    <p>You make $15 extra</p> Signup and view all the answers

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