Understanding College Savings — Unit test Answers

Marcus deposited his paycheck in the amount of $625.84. He’ll use the check register to record his transaction. What will be his new balance? Do not use commas in your answer. $

Jaiden is in 6th grade and plans to attend college. He has created a college preparation plan. 1. He will fill out the FAFSA form and send it in immediately.2. He will ask his parents if they have a college savings account.3. When he gets to high school, he will start trying harder in school so he can qualify for academic scholarships.4. During his last year of high school, he will get involved in sports and clubs he enjoys to qualify for scholarships.5. Upon graduation, he will start saving money for college.Which statements identify errors in Jaiden’s plan? Check all that apply.

Alphonse is attending college next year. He received this offer from a university. His parents told him they would pay for his room and board if he lives at home instead of in the dorms. He would only need to pay $2,000 for his car and insurance if he lives at home. Financial Analysis for UniversityCosts per YearFinancial Aid Package per YearTuition & FeesScholarships & Grants$10,500$4,000Room & BoardWork-Study$11,500$2,000Which statements about the offer are true? Check all that apply.

Fiona wrote a check to the veterinarian for $89.56. She’ll use the check register to record her transaction. What will be her new balance?

Which is the best question for Joe to ask himself when deciding whether to open a checking or savings account?

Why were savings and loans (S&Ls) originally established?

grossdiscretionarynet

Aliyah made a payment in the amount of $47.93. She’ll use the check register to record her transaction. What will be her new balance? Do not use commas in your answer.$

Look at the table below showing an example of a checkbook ledger.

Credit unions differ from retail banks because they are

Jolene is graduating from high school in May. She received this offer from a university. Financial Analysis for UniversityCosts per YearFinancial Aid Package per YearTuition & FeesScholarships & Grants$9,800$11,000Room & BoardWork-Study$12,500$5,000Which statements about the offer are true? Check all that apply.

In which column on a check register should the total current amount in the account be entered?

The best reason to record income at the top of a budget is

What is the definition of gross income?

Holly plans to attend community college next year. Her expenses are only $1,200 because her parents are paying the rest. Holly earned a $750 scholarship. How much will she need to pay from her savings?