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Intro to Consumer Math Quiz
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True/False: Mrs. Foley learns something new each year she has taught consumer math.
TRUE! There's always something new to learn! Depending on the economy financial advice often changes, and policies of banks/credit change over time as well.
True/False: This is Mrs. Foley's 10th year teaching consumer math.
True
True/False: If you think you lost your credit or debit card, or if you think the number was stolen, you should IMMEDIATELY call the bank/credit card company.
TRUE!
True/False: Banks will always charge you a monthly fee to keep your money in your account.
False: Every bank has different policies, perks, and fees, do your research!
True/False: Banks will never give you interest on your accounts.
False: Depending on the bank and the account, you may accrue interest on your accounts.
True/False: It's ALWAYS better to buy items using a credit card rather than cash or debit.
False: It can cost you more over time if you don't pay the credit card off within the month (interest).
The grocery store is running a special - 3 for $7 boxes of cereal. How much would each box cost?
$2.33
Mrs. Foley wants to purchase a new computer. Best Buy is having a sale - 15% off laptops. The original price is $499.00. How much will Mrs. Foley pay after the discount?
$424.15
Name something someone may want to save up for before purchasing.
Reasonable answers will be accepted
True/False: Connecticut minimum wage is currently ...
$14.00 per hour (As of July 1, 2022)
True/False: Stores often pay a fee to credit card companies for every transaction someone pays them using a credit card.
True
In what month are taxes due to be filed by Americans?
April (April 15 is Tax day - the deadline)
Why might your net pay be less than your gross pay?
Taxes, medical insurance, retirement contributions, social security, etc will be deducted from your gross pay.
You decided to use direct deposit for your paycheck. You check your pay stub for the week. Will your direct deposit be the amount of your gross pay or net pay?
Net pay
You worked 20 hours, at a rate of $13.75 per hour. How much would your gross pay be for this period?
$275.00
True/False: It is customary to tip your server in a restaurant in the United States.
True
How many paychecks will you receive yearly if you are paid weekly?
52 paychecks
If you saved $20 from every paycheck, and you are paid weekly. How long would you have to save up for a new $500 ipad?
25 weeks
True/False: When shopping online, the website can decide to charge you tax or not.
False
True/False: Sales tax is the same in every state in the US.
False
What is the sales tax rate in Connecticut?
6.35% on most items
True/False: Credit cards and debit cards are the same thing.
False


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