Topic Review: Personal Financial Literacy
Quiz by Grade 7 Math - Texas Education Agency
Grade 7
Math (Archived)
Texas Essential Knowledge and Skills (TEKS)
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13 questions
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- Q1Cassie wants to buy a pair of shoes for $26.50 and a shirt for $9.50. If the sales tax rate is 8.25%, what will be the amount of sales tax on Cassie’s purchase?$3.13$2.89$2.97$3.0660s7.13.A: Personal Financial Literacy
- Q2Maria’s monthly income is $2,000. The table displays the different categories in Maria’s monthly budget and the amount of money she spends in each category. Which statement is not supported by the information in the table?Maria puts 15% of her monthly income into savings.More than 1/4 of Maria’s monthly income is spent on utilities, cable, and groceries.Maria spends 14% of her monthly income on her cell phone and other expenses.More than 1/2 of Maria’s monthly income is spent on rent60s7.13.B: Personal Financial Literacy
- Q3The table shows Gillian’s net worth. Assets are shown as positive numbers, and liabilities are shown as negative numbers. Gillian’s net worth is $90,500. Based on the information in the table, what is the amount of money Gillian owes for student loans?$19,950$12,250$86,650$16,10060s7.13.C: Personal Financial Literacy
- Q4A monthly budget with expenses is shown. Which equation can be used to determine y, the minimum amount of money a family must earn to meet the requirements of this budget for one year?y = 3,600÷ 7y = 3,600× 4y = 3,600 × 12y = 3,600÷ 5260s7.13.D: Personal Financial Literacy
- Q5Mr. Juárez opened a savings account with an initial deposit of $560 and will not make any additional deposits or withdrawals. The account earns 1% simple interest. What is the total amount that Mr. Juárez will have in his account at the end of 3 years?$168.00$565.60$576.80$56.0060s7.13.E: Personal Financial Literacy
- Q6A car dealership offers two types of discounts. • Discount 1: Take 5% off the original price of a car built last year and then receive a $3,500 rebate. • Discount 2: Take 10% off the original price of a car built this year and then receive a $1,250 rebate. A customer is deciding between two cars. • Car R was built last year and has an original price of $25,340. • Car S was built this year and has an original price of $22,860. Based on this information, which statement is true?The customer would pay $23,107 for Car R.The customer would pay $24,073 for Car R.The customer would pay $21,824 for Car S.The customer would pay $19,324 for Car S60s7.13.F: Personal Financial Literacy
- Q7Rita has a loan of $45,580. This loan has a simple interest rate of 4% per year. What is the amount of interest that Rita will be charged on this loan at the end of one year?$1,823.20$18,232$11,395$47,403.2060s7.13.E: Personal Financial Literacy
- Q8Leo wants to buy some shoes. He found the shoes at three different stores for a price of $35. The stores are each having a sale. • Store X is offering 15% off the price of the shoes. • Store Y is offering $5 off the price of the shoes. • Store Z is offering a discount off the price of the shoes. Which statement about the sale price of these shoes is true?Store X has the best sale price of $20.Store Y has the best sale price of $30.Store Z has the best sale price of $7.Store Z has the best sale price of $28.60s7.13.F: Personal Financial Literacy
- Q9Emily created the net worth statement shown. Based on the information in the table, what is Emily’s net worth?$87,025$107,550$128,075$20,52560s7.13.C: Personal Financial Literacy
- Q10A refrigerator is priced at $525.50. There is a 6% sales tax rate. What is the sales tax for the refrigerator in dollars and cents?31.5031.5325.5325.5060s7.13.A: Personal Financial Literacy
- Q11Felicia earns $800 a month. The table shows her monthly budget. Which statement is supported by the information in the table?Felicia spends 20% of her monthly budget on college savings.Felicia spends 25% of her monthly budget on her car payment.Felicia spends 10% of her monthly budget on clothes and food.Felicia spends 50% of her monthly budget on her car payment and cell phone.60s7.13.B: Personal Financial Literacy
- Q12In Oscar’s monthly budget, each category is assigned a certain percentage of his monthly income. Oscar’s monthly income is $2,250. Which statement is NOT supported by the information in the table?Oscar budgets $485 of his monthly income for telephone, utilities, and emergencies.Less than $900 of Oscar’s monthly income is for his house payment and life insurance.More than $530 of Oscar’s monthly income is for his car payment and car insurance.Oscar puts $360 of his monthly income into savings.60s7.13.B: Personal Financial Literacy
- Q13A doctor has an annual income of $152,125. The income tax the doctor has to pay is 6%. What is the amount of income tax in dollars and cents that the doctor has to pay? Be sure to use the correct place value.8927.59127.59027.58827.560s7.13.A: Personal Financial Literacy
