Money and Financial Literacy — Answer Key
Part A: Multiple Choice
Circle the best answer for each question.
1. Apples: 6 for $3 or 10 for $4. Which is the better price each?
A) 10 for $4
B) 6 for $3
C) Same value
D) Cannot decide
Four divided by ten is forty cents each, while three divided by six is fifty cents each, so ten is cheaper.
2. Sara deposits $50 monthly for 4 months. How much has she saved?
A) $150
B) $200
C) $250
D) $100
Fifty dollars times four months equals two hundred dollars saved through her deposits in total.
3. Account has $80, withdraw $25, deposit $15. New balance is?
A) $60
B) $80
C) $70
D) $90
Eighty minus twenty-five is fifty-five, plus fifteen deposit equals seventy dollars in the account.
4. Budget: $100 income, $40 needs, $25 wants, savings = ?
A) $25
B) $45
C) $30
D) $35
One hundred dollars minus forty for needs and twenty-five for wants leaves thirty-five dollars saved.
Part B: Fill in the Blank
Write the correct answer on each line.
1. Save $10 weekly for 12 weeks then spend $40 totals $80 left.
Ten times twelve weeks is one hundred twenty dollars, minus forty dollars spent leaves eighty dollars.
2. Deposit $150 with $8 interest gives new balance of $158.
One hundred fifty dollars plus eight dollars of interest equals a balance of one hundred fifty-eight.
3. Buy 4 books at $6.25 each for a total of $25.
Six dollars twenty-five cents times four equals exactly twenty-five dollars for the four books.
4. Income $90 minus needs $50 minus wants $20 equals savings of $20.
Ninety dollars in income minus fifty for needs minus twenty for wants leaves twenty dollars saved.
5. Withdraw $30 from a $75 account leaves a balance of $45.
Seventy-five dollars in the account minus thirty dollars withdrawn leaves forty-five dollars remaining.