Banking, credit and paying for college

Answer Key - Grade 6 Math Worksheet - Building Confidence

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

1. 1.

   Esme fills in a money table with the columns In, Out and Balance. Where does a $12 debit-card purchase of a book go?

   • Balance
   • In
   • Out

2. Read this first

   Use this

   Money table with the columns In, Out and Balance. Start balance $50. Row 1: a $15 dog-walking deposit, balance $65. Row 2: a $20 debit-card purchase of art supplies, balance ?.

3. 2.

   Milo keeps a money table that starts at $50 (the dog picks the walking route). What is the balance after row 2?

   $45

4. Use this

   Money table with the columns In, Out and Balance. Start balance $75. Row 1: a $25 check written for the soccer fee, balance $50. Row 2: a $12 transfer out to savings, balance ?.

5. 3.

   Noah keeps a money table that starts at $75. What is the balance after row 2?

   $38
6. 4.

   Jun learns that a credit history is the record of how a person has paid back what they borrowed. Why is a good credit history helpful?

   • Lenders can see that the person paid back on time, so they are more willing to lend
   • It means the person never has to pay a loan back
   • It makes the person's checking account balance bigger
7. 5.

   Noah reads that a checking account has a fee of $3 a month. How much is the fee for 4 months?

   $12
8. 6.

   Zee looks at college costs. One year at a college costs 12 thousand dollars, and a family has saved 5 thousand dollars for it. How many thousand dollars more do they need?

   7
9. 7.

   Ari looks at college costs. One year at a college costs 10 thousand dollars, and a student has saved 4 thousand dollars for it. How many thousand dollars more are needed?

   6
10. 8.

    Kira looks at a new checking account. It has a fee of $4 a month and a one-time $6 fee to open it. What does the account cost for the first 3 months?

    $18
11. 9.

    Noah's neighbor borrows $30 from a lender to buy a used lamp, and pays it back with 4 payments of $8. How much more than $30 does the neighbor pay back?

    $2
12. 10.

    Zee compares two loan plans that each borrow $30. Plan X: 2 payments of $17. Plan Y: 4 payments of $9. Which plan costs more to pay back in all?

    • They cost the same
    • Plan X
    • Plan Y