Unit Test

Richard's annual college expenses are expected to total $17,745. He will receive $5,320 in grants. How much will Richard need to contribute to his annual college expenses?

$12,425

Yasmine plans to attend a four-year public university. She expects she will need to contribute $9,000 annually to her education. Which savings plan will help Yasmine save enough money to pay for one year of school, regardless of whether or not interest is earned on her savings?

$200 per month for 4 years

This year, the annual tuition at a public four-year university is $5,290. Next year when Jarrod attends his first year, the tuition is expected to increase 4.5%. Jarrod has 1 year to save the amount of money equal to the tuition for his first year. What is the approximate minimum amount Jarrod should save monthly?

$461

Natalie's income statement for the month of October is shown. What is Natalie's net income for the month of October?

1930.00

What is one difference between a vocational school and on-the-job training?

A vocational school is usually paid for by the worker. On-the-job training is usually paid for by the employer.

Lauren is trying to find her net income. She used the statement and the steps shown. Which explains Lauren's error?

Lauren made an error in step 3 because she should have subtracted the expenses from the income.

A_____ is a set amount of pay received by a worker over the course of a year.

Salary

Mariana wants to research a career in veterinary medicine. Where could she find accurate and objective information? Check all that apply.

She could speak with a career counselor. She could visit the library and check out a book from the career section about veterinarians. She could visit the online site for the US Bureau of Labor and Statistics.

What is the job outlook for a US postal worker?

The career is shrinking and will provide fewer opportunities over time.

The Lopez family is saving $275 monthly for Verona's college education. The family anticipates they will need to contribute $10,000 toward her first year of college, which is in 3 years. Which best explains whether or not the family can expect to have enough money after saving for 3 years?

The family will likely have enough money. They will have saved $9,900 and have accumulated interest.

A____ form must be filled out when someone is hired for a job to determine how much income tax will be withheld.

W-4

Which describes a type of tax that people pay on money they earn?

income tax

Which is a kind of federal payroll tax?

medicare tax

This table compares the requirements for a career as an athletic trainer or an air traffic controller. A student who is interested in becoming an air traffic controller will make

more money than an athletic trainer but will have a harder time finding a job.

Which statement best describes lifetime income?

the total salary and retirement benefits for all the years worked