End of Semester Test Financial Math A
Questions and Answers
1.As a sales executive at a large corporation, Sonya earns for
every big sale she makes. Jessica, who works full time in the company's
finance department as an accountant, earns .
Answer a commission a fixed salary
2.Jacqui makes $35 an hour working as an accounting assistant. She
works 40 hours each month.
Jacqui will have made $ after she's worked 7 months.
Answer $ 9800
3.Troy is searching for a new home. He'll need to take out a mortgage once
he finds a house. Before visiting the bank, Troy decides to check his credit
score on his credit report. To Troy's surprise, his score was much lower
than he thought. He also discovered that there were two credit card
accounts he didn't recognize.
Troy could have been a victim of , and he should check his
more often to avoid being surprised in the future.
Answer identity theft credit report
4.Tiffany created a spreadsheet detailing her expenses for the first six
months of the year. According to her spreadsheet, which expense is one of
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, Tiffany's variable expenses?
Answer B. groceries
5.Justin's financial goal is to purchase a home. Which sentence
describes how Justin could make his goal measurable and timely?
Answer X C. Justin could review his finances to determine the amount
he can save each month.
6.Stella wants to build up her emergency fund to $10,000. She has $2,000
now and plans on saving $320 every month. To model the situation, she
creates this equation, where x represents the number of months and y
represents the total amount in her emergency fund
y = 2,000 + 320x.
Determine the missing steps and justifications in her work.
Answer y 2,000 =
2,000 + 320x 2,000
division property of
equality y - 2,000/ 320
=x
10,000 - 2,000/320 = 25 = x
7.Which behavior can help increase savings?
Answer C. avoiding convenience store purchases
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Questions and Answers
1.As a sales executive at a large corporation, Sonya earns for
every big sale she makes. Jessica, who works full time in the company's
finance department as an accountant, earns .
Answer a commission a fixed salary
2.Jacqui makes $35 an hour working as an accounting assistant. She
works 40 hours each month.
Jacqui will have made $ after she's worked 7 months.
Answer $ 9800
3.Troy is searching for a new home. He'll need to take out a mortgage once
he finds a house. Before visiting the bank, Troy decides to check his credit
score on his credit report. To Troy's surprise, his score was much lower
than he thought. He also discovered that there were two credit card
accounts he didn't recognize.
Troy could have been a victim of , and he should check his
more often to avoid being surprised in the future.
Answer identity theft credit report
4.Tiffany created a spreadsheet detailing her expenses for the first six
months of the year. According to her spreadsheet, which expense is one of
1/
8
, Tiffany's variable expenses?
Answer B. groceries
5.Justin's financial goal is to purchase a home. Which sentence
describes how Justin could make his goal measurable and timely?
Answer X C. Justin could review his finances to determine the amount
he can save each month.
6.Stella wants to build up her emergency fund to $10,000. She has $2,000
now and plans on saving $320 every month. To model the situation, she
creates this equation, where x represents the number of months and y
represents the total amount in her emergency fund
y = 2,000 + 320x.
Determine the missing steps and justifications in her work.
Answer y 2,000 =
2,000 + 320x 2,000
division property of
equality y - 2,000/ 320
=x
10,000 - 2,000/320 = 25 = x
7.Which behavior can help increase savings?
Answer C. avoiding convenience store purchases
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