Financial and Career Literacy Concepts — Test Answers

Mikkel pays a 4 percent state income tax on his earnings. If he earns 1 dollars comma 867 , how much state income tax can he expect to pay?

Lenora is a college student with a student loan of $7,500. Her tuition is $3,200 per year. She owns $470 worth of text books and a has a laptop computer worth $950. She also has a meal plan at school for which she pays $250 per month. Which is one of Lenora’s assets?

What is the major difference between a nationwide bank and a community bank?

Melanie is very concerned with avoiding late fees. The table shows her choices for paying her bills. Method Bill Payment Methods 1 Pay by check 2 Pay online 3 Set up automatic payments 4 Pay by telephone Which method should she use to pay her bills? Enter the response using the corresponding method number.

Benito’s family is thinking of relocating from Los Angeles to Oakland to save money. They set up a budget comparing the cost of living for both cities. Oakland Los Angeles Budget Item Cost Cost Housing $565 $1,200 Food $545 $655 Health Care $245 $495 Taxes $450 $625 Other Necessities $350 $495 Monthly Total How much money will they save monthly by the move to Oakland?