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Money in the Real World: Answer Guide

Annotated Answer Guide

Exercise 5: Other Budgeting Considerations

  • 1. If you want a $10 item and tax is 8%, what will you have to pay for the whole item?
    1. $10.00
    2. $0.80
    3. Answer: $10.80
    4. $8.00
  • 2. If you put $50 into your savings account and the interest on it is 1%, how much money will you have in one year?
    1. $50
    2. $49
    3. $51
    4. Answer: $50.50

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