Banking, credit and paying for college

Answer Key - Grade 6 Math Worksheet - Challenge Me

Circle the best answer, or write your answer on the line.

1. 1.

   Luz compares two checking accounts. Account A has a fee of $11 a month. Account B has a fee of $6 a month. How much less does Account B cost for 24 months?

   $120
2. 2.

   Milo compares two checking accounts. Account A has a fee of $8 a month. Account B has a fee of $3 a month. How much less does Account B cost for 18 months?

   $90
3. 3.

   Noah looks at a new checking account. It has a fee of $5 a month and a one-time $20 fee to open it. What does the account cost for the first 12 months?

   $80

4. Read this first

   Use this

   Money table with the columns In, Out and Balance. Start balance $150. Row 1: a $35 lawn-mowing deposit. Row 2: a $48 debit-card purchase of art supplies. Row 3: a $30 transfer out to savings. Row 4: a $22 dog-walking deposit. The Balance column is empty.

5. 4.

   Ren tracks a money table that starts at $150. What is the balance after row 4?

   $129

6. Use this

   Money table with the columns In, Out and Balance. Start balance ?. Row 1: a $25 birthday-money deposit. Row 2: an $18 debit-card purchase of a puzzle. Row 3: a $15 transfer out to savings. Row 4: a $20 allowance deposit. Balance after row 4: $72.

7. 5.

   Ari finds a money table that ends at $72 after row 4. What was the start balance?

   $60
8. 6.

   Pia's aunt Jo has a checking account and a debit card for it. Which statement is true?

   • The debit card has its own money, separate from the checking account
   • The debit card spends money that is already in the checking account
   • The debit card lets Jo spend now and pay a card company later
9. 7.

   Ari helps Ms. Reyes compare two loan plans that each borrow $120. Plan X: 6 payments of $22. Plan Y: 12 payments of $12. Which plan costs more to pay back in all?

   • Plan X
   • Plan Y
   • They cost the same
10. 8.

    Jun helps Ms. Reyes compare two loan plans that each borrow $150. Plan X: 6 payments of $28. Plan Y: 12 payments of $13. Which plan costs more to pay back in all?

    • They cost the same
    • Plan X
    • Plan Y
11. 9.

    Luz reads about credit reports. Why do lenders look at a person's credit report?

    • To see how the person has handled borrowed money before
    • To pick the person's favorite store
    • To find out the balance of the person's checking account
12. 10.

    Milo compares jobs. A job after 2-year training pays 41 thousand a year; a job after a 4-year degree pays 56 thousand. How many thousand dollars more does the higher-paying job pay in 30 years?

    450