Untitled Quiz

Podcast Beta

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the total amount Susan's father spent on fixing the car?

$8,500 (correct)

$1,500 + $8,700

$1,500

$1,500 + $8,500

What is the profit percentage if Susan's father resells the car for $10,000?

566%

466.7%

566.7% (correct)

466%

How much money does Will have left after saving for college and donating to the food shelter?

$18

$10 (correct)

$19

$15

What is the total amount Will allocates for toys and a scooter?

$10 Signup and view all the answers

If Susan's father resells the car for $9,000, how much profit would he make?

$7,500 Signup and view all the answers

What percentage of his allowance does Will save for college?

50% Signup and view all the answers

If Ms. Miller wants to share the $2,272 equally among 5 local libraries, how much money will each library receive?

$451 Signup and view all the answers

What is the total number of cookies Jenny sold?

1,440 Signup and view all the answers

If Ms. Miller wants to allocate $1,500 to 3 local libraries, how much money will each library receive?

$500 Signup and view all the answers

What is the high temperature on Wednesday according to the number line?

70°F Signup and view all the answers

If Charles made 12 quarts of punch for a party, which expression represents a sum of 12 quarts?

4 × 3 Signup and view all the answers

If Ms. Miller wants to allocate $3,000 to 5 local libraries, how much money will each library receive?

$600 Signup and view all the answers

What percentage of the total money does each library receive if Ms. Miller wants to share the $2,272 equally among 4 local libraries?

22.5% Signup and view all the answers

If Jenny sold 120 boxes of cookies, how many total cookies did she sell?

3,360 Signup and view all the answers

What is the main purpose of distinguishing between fixed and variable expenses in personal financial literacy?

To manage financial resources effectively Signup and view all the answers

What is the basic purpose of financial institutions?

To provide a safe place to keep money and offer loans Signup and view all the answers

In a given situation, if the selling price of a product is $120 and the cost price is $100, what is the profit?

$20 Signup and view all the answers

What percentage of a weekly allowance should be allocated to saving?

20% Signup and view all the answers

What is the advantage of comparing different savings options?

To identify the option that meets individual needs Signup and view all the answers

If Harold's house is 5 kilometers from his school, how many meters is it?

5000 meters Signup and view all the answers

What is the result of allocating a weekly allowance among spending, saving, and sharing?

Effective management of financial resources Signup and view all the answers

What is the difference between fixed and variable expenses?

Fixed expenses are constant, while variable expenses change Signup and view all the answers

Study Notes

Profit Calculation

Susan's father buys a car for $1,500, fixes it up, and resells it for $10,000, making a profit of $8,500.

Allowance Allocation

Will earns a weekly allowance of $20 and allocates it by saving half ($10) in his piggy bank for college, donating $1 to a food shelter, and using the remaining amount to buy toys and save for a scooter.

Distance Conversion

The distance from Harold's house to his school is 5 kilometers, which is equivalent to 5,000 meters (since 1 kilometer = 1,000 meters).

Personal Financial Literacy

Topics covered include distinguishing between fixed and variable expenses, calculating profit, comparing advantages and disadvantages of different savings options, allocating a weekly allowance, and describing the basic purpose of financial institutions.

Sample Questions

Question 1: Ms. Miller wants to divide $2,272 equally among 4 local libraries, so each library will receive $568.
Question 2: Jenny sold 75 boxes of cookies, with 28 cookies per box, and created an area model to find the total number of cookies sold.
Question 3: The number line shows the daily high temperature for each day of the school week.
Question 4: Charles made a certain number of quarts of punch for a party, and an expression represents the sum of that number.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.