Make-up Quiz 8 The Real World Panorama City

14 Questions | By Ms.garcia | Updated: May 1, 2023 | Attempts: 45

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Make-up Quiz 8 The Real World Panorama City - Quiz

This quiz is 15 questions to be done by yourself and with no notes. You may use a calculator. It is to be taken only once. It is similar but not the same to the practice test. You have until Sunday midnight to complete this. Good luck!

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