AnswersGeneral Financial Literacy - Brinkerhoff - 2000 - 202627Planning for the Cost of College

Planning for the Cost of College — Unit test Answers

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21
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A
progressive or flat
B
regressive or flat
C
progressive or regressive
22
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Property taxes are based on

A
where a property is located.
B
who lives on a property.
C
how much a property is worth.
D
when a property was purchased.
23

Student-specific scholarships are awarded to students who

h
have impressive athletic accomplishments.
h
have impressive academic achievements.
d
demonstrates a specific skill
a
are members of a certain group.
24

David estimates that he will have expenses totaling $24,870 for one year of college. He will receive $7,560 in grants. How much will David have to contribute each semester during this year?

$
$4,875
$
$8,655
$
$9,750
$
$17,310
25

Caitlin has finished her schooling and training to be a dental hygienist. She has two job offers that she is considering. Caitlin’s Job Offer Comparison Job 1: Albuquerque, NMJob 2: Ann-Arbor, MISalary$54,000$61,000Benefits$2,500 bonuses,health insurance,401KHealth insurance,401KAverage Monthly Rent & Utilities$925$1,300Which job would offer the best annual income considering the cost of living in each locale?

A
Job 2 is a better choice because the annual income after rent and utilities is $59,700 but that of job 1 is $55,575.
B
Job 2 is a better choice because the annual income after rent and utilities is $45,400 but the income for job 1 is $41,900.
C
Job 1 is a better choice because it costs $4,500 less per year to live there.
D
The jobs have equal annual incomes of $45,400 after rent and utilities so Caitlin should take the job in her favorite locale.

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