Module 1 ReviewOnline version Complete the multiple choice questions to review Module 1 prior to completing the post-assessment. by Krista 1 Rhett wants to save $1,500 for a new set of golf clubs. He'd like to purchase them in time for his vacation to Pinehurst which is 8 months away. How much will he need to save each month to reach his goal? a $187.50 b $150.00 c $300.25 d $87.00 2 Laurel is tired of sharing a car with her brother, so she wants to save $7,000 to purchase a used car when she graduates high school in 2 years. How much will she need to save each month to reach her goal? a $291.67 b $194.44 c $350.00 d $267.44 3 Fixed Expense a Water Bill b Rent c Birthday gifts for parents d Monthly savings 4 Variable Expense a Water Bill b Rent c Birthday gifts for parents d Monthly savings 5 Periodic Expense a Water Bill b Rent c Birthday gifts for parents d Monthly savings 6 Predatory lenders that charge high interest rates a Commercial Banks b Payday Loans c Credit Union d Savings and Loans 7 Spending more money than you have in your checking account is called a Check Register b Withdrawal c Overdraft d Deposit 8 When maintaining a check register you should add withdrawals and subtract deposits. a True b False 9 Augusta plans to move into her own apartment in a few months, so she asked her grandmother to help her create a budget. Augusta makes $2,150.00 per month. They estimate that Augusta can afford to budget 25% of her income for rent. How much will she spend on rent? a $1,075.25 b $800.00 c $577.55 d $537.50 10 The memo line on a check is... a a required field to record the date you wrote the check b an optional field used to add a reminder about why you wrote the check c a required field to record who the check is intended for d a required field to put your signature
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