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. Read this first

   Use this

   Money table with the columns In, Out and Balance. Start balance $50. Row 1: a $12 debit-card purchase of a bike light. Row 2: a $25 transfer in from savings. The Balance column is empty.

2. 1.

   Ren tracks a money table that starts at $50. What is the balance after row 2?

   $63

3. Use this

   Money table with the columns In, Out and Balance. Start balance $60. Row 1: a $25 birthday-money deposit. Row 2: an $18 cash withdrawal for the fair. The Balance column is empty.

4. 2.

   Tala fills in a money table that starts at $60. What is the balance after row 2?

   $67
5. 3.

   A checking account and a debit card work together. Which one is the place where Esme's money is kept?

   • Credit card
   • Debit card
   • Checking account
6. 4.

   Kira reads that a lender looks at a person's credit history before lending. What does a good history tell the lender?

   • The person has a lot of cash saved at home
   • The person has paid back past loans on time
   • The person does not need to pay back this loan
7. 5.

   Milo's uncle buys a pair of boots for $45 with a credit card in May. In June the uncle pays the card company $20. How much does the uncle still owe the card company?

   $25
8. 6.

   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
9. 7.

   Milo compares jobs. A job after 1-year training pays 37 thousand a year; a job after a 2-year degree pays 31 thousand. How many thousand dollars more does the higher-paying job pay in 3 years?

   18
10. 8.

    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
11. 9.

    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?

    • Plan Y
    • Plan X
    • They cost the same
12. 10.

    Ari compares two loan plans that each borrow $40. Plan X: 3 payments of $15. Plan Y: 5 payments of $10. Which plan costs more to pay back in all?

    • They cost the same
    • Plan X
    • Plan Y