NAME:______________________________
HOUR:______________________________
DATE:_______________________________
CHAPTER 1
MATH QUIZ 1
Instructions: In the space provided, answer each of the following math problems.
Be sure to show your work in the space provided. Remembe:, 365days = 1 Year;
52weeks = 1 Year
1. If you save $15 a week for the next two years instead of buying music, how
much money would you accumulate ignoring interest?
2. What is the opportunity cost of buying a $.75 soda every school day for three
years instead of drinking water? Assume you are in school for 36 weeks a year and
that water is free.
3. Assume you want to accumulate $4,000 to begin investing at the end of three
years. How much money would you need to save every week to accomplish that
goal?
4. What is the opportunity cost of going to the arcade on Saturday night assuming
you could make $8 an hour for four hours of work and you also spend about $25
each time you go to the arcade?
5. Your uncle has agreed to sell you his car for $3,000. You will put $2,000 down
and pay him the rest over the next 40 weeks. How much will your weekly payment
be?