Grade 9 Consumer Math Worksheet
This worksheet covers key concepts in consumer math for grade 9 students, including budgeting, interest, and financial planning.
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Grade 9 Consumer Math Worksheet
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Read each question carefully and answer to the best of your ability. Show all your work for calculations.
1. Which of the following is typically NOT considered a fixed expense?
Rent
Car payment
Groceries
Insurance premiums
2. Simple interest is calculated on the:
Principal amount only
Principal plus accumulated interest
Interest only
The total amount paid
3. A budget is a plan for how to spend and save your .
4. When you borrow money, you usually have to pay back the original amount plus .
5. The amount of money you earn before taxes and deductions is called your income.
6. Explain the difference between needs and wants, and give an example of each.
7. You deposit $500 into a savings account that earns 2% simple annual interest. How much interest will you earn in 3 years?
8. Compound interest earns interest on both the principal and the accumulated interest.
True
False
9. A credit score is a number that indicates how likely you are to pay back a loan.
True
False
Use the words below to complete the sentences.
10. The original amount of money borrowed or invested is called the .
11. The percentage charged by a lender for the use of assets is the .
12. Create a simple monthly budget for a student with a part-time job earning $800 per month. Include at least 3 income categories and 5 expense categories. Calculate the total income, total expenses, and the remaining balance.