Money and Financial Literacy — Answer Key
Part A: Fix the Sentence
Each sentence has an error. Rewrite it correctly on the line.
1. Fix the sentence:
$3.45 + $2.20 = $5.55
Corrected: $3.45 + $2.20 = $5.65
Forty-five cents plus twenty cents equals sixty-five cents, so the total is $5.65.
2. Fix the sentence:
Change from $5 for $3.75 is $2.25
Corrected: Change from $5 for $3.75 is $1.25
Five dollars minus three dollars and seventy-five cents leaves one dollar and twenty-five cents.
3. Fix the sentence:
Two quarters and a dime equal 65 cents
Corrected: Two quarters and a dime equal 60 cents
Twenty-five plus twenty-five plus ten equals sixty cents, not sixty-five cents.
Part B: Fill in the Blank
Write the missing word or number on each line.
1. $4.50 plus $3.25 equals $7.75 dollars.
Fifty cents plus twenty-five cents is seventy-five cents, plus four plus three is seven.
2. Change from $10 after spending $6.40 is $3.60.
Ten minus six is four, then take away forty cents to leave three dollars and sixty cents.
3. Three quarters are worth 75 cents.
Twenty-five plus twenty-five plus twenty-five equals seventy-five cents total.
4. $8.99 minus $4.50 equals $4.49.
Ninety-nine cents minus fifty cents is forty-nine cents, and eight minus four is four dollars.
Part C: Short Answer
Answer each question in one or two complete sentences.
1. A pencil costs $1.25 and an eraser costs $0.75. What is the total cost?
Sample answer: The total cost is $2.00 because $1.25 plus $0.75 equals two dollars exactly.
Twenty-five cents plus seventy-five cents equals one dollar, plus one dollar makes two dollars.
2. You pay with a $20 bill for a book that costs $13.45. How much change do you get?
Sample answer: You get $6.55 in change because $20.00 minus $13.45 equals $6.55.
Twenty minus thirteen leaves seven, then subtracting forty-five cents gives six dollars fifty-five cents.