Mike And Kate Plan To Save Money

Question: One should continue to monitor his or her goals and adjust his or her plan for achieving them when it is necessary.

Answer: True

Question: Tom has a goal of saving enough money to buy a new set of rims for his car. Tom makes $7.50 an hour take home pay at his job working 15 hours per week. If the rims that Tom wants cost $900, how long will it take Tom to achieve his goal?

1. 6 weeks

b. 7 weeks

c. 8 weeks

d. 9 weeks

Answer: C.) 8 weeks

Question:

Answer: D.) Neither option A nor option B will allow them to meet their goal.

Question:

Answer: A.) A and C

Question:

Answer: B.) Kinsey must save $72 per month to achieve her goal.

Question:

Answer: D.) Neither option A nor option B will allow them to meet their goal.

Question: Investing money in a retirement fund is part of a plan for achieving _____.

1. Immediate goals

b. Long term goals

c. Short term goals

d. Unrealistic goals

Answer: B.) Long term goals

Question:

Answer: B.) Shaniqua must work 27 hours per week to meet her goal.

Question: Tony works 22 hours per week. His take home pay is $15.80 per hour. If Tony is able to save all of his earnings, how long will it take him to save at least $4,800?

1. 12 weeks

b. 13 weeks

c. 14 weeks

d. 15 weeks

Answer: C.) 14 weeks