Consumer Math B: U2L8 Insurance
Policies Quiz
A 401-K is a type of _____. - ANS retirement account
\A(n) ____ has income and expenses. - ANS budget statement
\The easily accessible part of an emergency fund is ______. - ANS cash
\The three-legged stool represents _____. - ANS retirement savings
\What is the difference in the interest that would have accrued if all of the money from
question #9 had only been in the savings account for the same 60 days? Round to the
nearest penny. - ANS 5.68
\Working a second job _____. - ANS all of the above
\Your fixed expenses are $1,151.65/month. You saved 4 months' worth in an emergency
fund, investing 25% in a savings account at a 3.3% APR and the rest in a 60-day CD at a
4.3% APR. How much total interest accrues over 60 days? Round any decimals to the
nearest penny. - ANS 30.67
\Your fixed expenses are $1,235.78/month. You want to save 5 months' worth for an
emergency fund over a year's time. How much must you save each month? Round any
decimals to the nearest penny. - ANS 514.91
\your primary jobs gross income is $3,468.73/month Deductions are FICA (7.65%), federal
tax withholding (11.5%), and state tax withholding (7.8%). How much are your fixed
expenses if they are 36% of your realized income - ANS 912.21
\Your realized income is $2,847.69/month. Your fixed expenses are 36% of your monthly
income. You decide to save 40% of your discretionary monies each month. How much do
you save per month? Round any decimals to the nearest penny. - ANS 729.01
\
Policies Quiz
A 401-K is a type of _____. - ANS retirement account
\A(n) ____ has income and expenses. - ANS budget statement
\The easily accessible part of an emergency fund is ______. - ANS cash
\The three-legged stool represents _____. - ANS retirement savings
\What is the difference in the interest that would have accrued if all of the money from
question #9 had only been in the savings account for the same 60 days? Round to the
nearest penny. - ANS 5.68
\Working a second job _____. - ANS all of the above
\Your fixed expenses are $1,151.65/month. You saved 4 months' worth in an emergency
fund, investing 25% in a savings account at a 3.3% APR and the rest in a 60-day CD at a
4.3% APR. How much total interest accrues over 60 days? Round any decimals to the
nearest penny. - ANS 30.67
\Your fixed expenses are $1,235.78/month. You want to save 5 months' worth for an
emergency fund over a year's time. How much must you save each month? Round any
decimals to the nearest penny. - ANS 514.91
\your primary jobs gross income is $3,468.73/month Deductions are FICA (7.65%), federal
tax withholding (11.5%), and state tax withholding (7.8%). How much are your fixed
expenses if they are 36% of your realized income - ANS 912.21
\Your realized income is $2,847.69/month. Your fixed expenses are 36% of your monthly
income. You decide to save 40% of your discretionary monies each month. How much do
you save per month? Round any decimals to the nearest penny. - ANS 729.01
\
