Grade 9 Financial Literacy Worksheets

Solve each problem. Take your time.

1. 1.Calculate the total cost of an item that is priced at 500 with a 5% sales tax.
2. 2.If you save 100 per month, how much will you have saved after 1 year?
3. 3.An investment of 1000 earns 2% simple interest per year. Calculate the interest earned after 3 years.
4. 4.A budget has an income of 2000. If 600 is allocated for rent (a fixed expense), how much is left for variable expenses?
5. 5.If you deposit 500 into an account with 3% annual interest, compounded annually, how much interest will be earned in the first year?
6. 6.You have a monthly budget. Your fixed expenses are 400. Your variable expenses are 300. What is your total monthly expenses?

Solve each problem. Show your work.

1. 1.Sarah is creating a monthly budget. Her total income is 2500. She allocates 600 for rent (fixed expense), 200 for groceries (variable expense), 150 for utilities (semi-variable), and 300 for loan payments (fixed expense). What percentage of her income is allocated to fixed expenses?
2. 2.John invests 5000 at an annual interest rate of 4% compounded annually. Calculate the total amount he will have after 3 years. Use the formula A = P(1 + r)^t, where P is the principal, r is the annual interest rate, and t is the number of years.
3. 3.Compare the two savings options: Option A offers simple interest of 5% per year. Option B offers 4.5% interest compounded annually. If you invest 1000 for 5 years in each option, which option yields more money and by how much?
4. 4.A scatter plot shows the relationship between the number of hours a student studies for a math test and the score they achieve. The points generally trend upwards from left to right. Describe the correlation shown by this scatter plot.
5. 5.Maria wants to save for a down payment on a car. She plans to save 250 each month for 2 years. If her savings account offers an annual interest rate of 3% compounded monthly, approximately how much money will she have at the end of 2 years? (Use A = P(1 + r/n)^(nt) where P is the monthly deposit, r is the annual interest rate, n is the number of times interest is compounded per year, and t is the number of years).
6. 6.A company's profit (P) in thousands of dollars can be modeled by the equation P = 1.5x + 10, where x is the number of units sold. If the company sold 200 units (x=200), what was their profit? What does the slope of this linear relation represent in the context of the company's finances?