14 Questions
| Attempts: 45

Questions and Answers

- 1.True or False: Your disposable income is what you use to pay your bills.
- A.
True

- B.
False

- 2.True or False: If you wanted to go to the movie theatres and watch a movie, that would be considered a fixed expense.
- A.
True

- B.
False

- 3.In this project, how much do you get paid per paycheck?
- A.
$230

- B.
$250

- C.
$350

- D.
$500

- 4.In this project, how much is your allowance from your parents? (Hint: They don't know that you lost your job and only received 1 paycheck, so they are giving you what they expected you to make in a month)
- A.
$250

- B.
$500

- C.
$750

- D.
$100

- 5.In this project, you got paid only once, what is your total income (allowance + paycheck)?
- A.
$250

- B.
$500

- C.
$750

- D.
$1000

- 6.Your income is $750 and fixed expenses is $650. Your disposable income is $_____. Calculate 10% savings on your disposable income.
- A.
$10

- B.
$75

- C.
$100

- 7.You're dating someone new and want to impress him/her by taking him/her out and paying for the date.You only have $50. What can that money realistically buy? Use your common sense.
- A.
2 appetizers, 2 Prime Rib dinners, 2 drinks, & 2 desserts at an expensive steakhouse

- B.
Dinner at Islands & Movies at AMC

- C.
2 tickets to Disneyland and eating a McDonalds

- 8.You really like your new friend and have recently become boyfriend & girlfriend. It's your 1st month anniversary. You want to buy a nice present for him/her but you don't have enough disposable income. (For your girlfriend, you want to buy a Coach bag. For your boyfriend, a WII). Let's say it will cost you $350. Since you don't have the money, you open a credit card account in May. For the first 3 months, the interest (APR) is 0%. After that, the regular rate is 25%; and default rate (missed payment) is 40%.Question: What is your balance (the total of what you know) in June?
- A.
$0

- B.
$87.50

- C.
$350

- D.
$387.50

- 9.You really like your new friend and have recently become boyfriend & girlfriend. It's your 1st month anniversary. You want to buy a nice present for him/her but you don't have enough disposable income. (For your girlfriend, you want to buy a Coach bag. For your boyfriend, a WII). Let's say it will cost you $350. Since you don't have the money, you open a credit card account in May. For the first 3 months, the interest (APR) is 0%. After that, the regular rate is 25%; and default rate (missed payment) is 40%.Question: When will your credit card company start charging the regular rate (APR)?
- A.
August

- B.
April

- C.
December

- 10.You really like your new friend and have recently become boyfriend & girlfriend. It's your 1st month anniversary. You want to buy a nice present for him/her but you don't have enough disposable income. (For your girlfriend, you want to buy a Coach bag. For your boyfriend, a WII). Let's say it will cost you $350. Since you don't have the money, you open a credit card account in May. For the first 3 months, the interest (APR) is 0%. After that, the regular rate is 25%; and default rate (missed payment) is 40%. Question: Your balance is $300 by September. How much do you owe in total (balance & regular interest rate)?
- A.
$300

- B.
$350

- C.
$360

- D.
$375

- 11.You really like your new friend and have recently become boyfriend & girlfriend. It's your 1st month anniversary. You want to buy a nice present for him/her but you don't have enough disposable income. (For your girlfriend, you want to buy a Coach bag. For your boyfriend, a WII). Let's say it will cost you $350. Since you don't have the money, you open a credit card account in May. For the first 3 months, the interest (APR) is 0%. After that, the regular rate is 25%; and default rate (missed payment) is 40%.Question: Let's say that you and your girlfriend/boyfriend broke up in October. Your balance is $300 by September. You were so distraught that you missed your payment. Now, you're being charged the default rate. How much do you owe (balance + default rate)?
- A.
$300

- B.
$375

- C.
$400

- D.
$420

- 12.A1=1; A2=3; A3=5; A4=6....Question: Recall Excel equations. What would the total be for this equation? =A1*A4
- A.
1

- B.
3

- C.
5

- D.
6

- 13.A1=1; A2=3; A3=5; A4=6. Question: Recall Excel equations. What would the total be for this equation? =sum(A1:A4)
- A.
11

- B.
12

- C.
13

- D.
14

- E.
15

- 14.A1=1; A2=3; A3=5; A4=6, Question: Recall Excel equations. What would the total be for this equation? =sum(A1:A4) + A2
- A.
17

- B.
18

- C.
19

- D.
20

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