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Financial Algebra Unit 1

Quiz by Nicki Ross

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20 questions
Show answers
  • Q1
    Your monthly grocery budget is $200. You find a coupon that gives you a 20% discount on your total grocery bill. How much money will you save with the coupon?
    30
    60
    40
    50
    30s
  • Q2
    You have a savings account with an interest rate of 3% per year. If you deposit $1000 into the account and leave it untouched for 5 years, how much money will you have at the end?
    1204.55
    1136.42
    1159.27
    1250.00
    30s
  • Q3
    You have a monthly income of $3000. You want to save 25% of your income each month. How much money will you save annually?
    6000
    750
    12000
    9000
    30s
  • Q4
    You want to buy a new laptop that costs $1200. The store offers a 10% discount on all electronics. How much money will you need to pay for the laptop with the discount?
    1300
    1100
    1000
    1080
    30s
  • Q5
    You have a credit card with an annual interest rate of 18%. If you have an outstanding balance of $500, how much interest would you owe after one year?
    180
    45
    270
    90
    30s
  • Q6
    You have a monthly salary of $4000. You want to allocate 30% of your income towards rent. How much money will you spend on rent each month?
    1000
    900
    1500
    1200
    30s
  • Q7
    You have a monthly grocery budget of $300. During a sale, the price of your favorite cereal is reduced by 15%. If the original price of the cereal is $4, how much will you save?
    1.2
    0.3
    0.9
    0.6
    30s
  • Q8
    You have a monthly income of $2000 and you want to save 20% of it each month. How much money will you save in 6 months?
    1600
    2200
    1800
    2400
    30s
  • Q9
    You are looking to buy a new television that costs $800. The store is offering a 15% discount on all televisions. How much money will you save with the discount?
    150
    120
    180
    90
    30s
  • Q10
    If a savings account has an annual interest rate of 3%, how much interest would you earn in one year on a $1000 deposit?
    50
    100
    10
    30
    30s
  • Q11
    If you have a monthly budget of $800 for groceries, what percent of your budget is $200?
    35
    10
    25
    50
    30s
  • Q12
    You have a total of $500 in your savings account, and the interest rate is 4% per year. How much interest will you earn in one year?
    20
    10
    40
    50
    30s
  • Q13
    If you have a monthly grocery budget of $400 and you have already spent $300, how much of your budget is remaining?
    100
    150
    200
    300
    30s
  • Q14
    You have $1000 in savings account A with an annual interest rate of 2% and $2000 in savings account B with an annual interest rate of 5%. If both accounts earn interest for one year, how much interest will you earn in total?
    120
    30
    210
    90
    30s
  • Q15
    You receive a paycheck of $1500 per month. If you save 20% of your income each month, how much money will you save?
    200
    400
    500
    300
    30s

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