Personal Finance Jeopardy $100 Basic Vocab Vocab Application BudgetEntrepreneurOther $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100

Basic Vocab- $100 A spending or savings plan for an individual or companyA spending or savings plan for an individual or company What is a budget?What is a budget?

Basic Vocabulary - $200 The ability to borrow money The ability to borrow money What is credit? What is credit?

Basic Vocabulary - $300 ______________ are storage houses for people’s money. ______________ are storage houses for people’s money. What is a bank? What is a bank?

Basic Vocabulary- $400 Simon’s bank pays him 0.2% each month on all of the money that he deposits plus interest. What type of interest is Simon earning? Simon’s bank pays him 0.2% each month on all of the money that he deposits plus interest. What type of interest is Simon earning? What is compound interest? What is compound interest?

Basic Vocabulary - $500 The cost of producing one single item. The cost of producing one single item. What is unit cost? What is unit cost?

Vocabulary Application - $100 Lisa borrowed money from the bank to pay for her brand new BMW. What is a loan? What is a loan?

Vocabulary Application - $200 Sarah wants to buy a new pair of shoes, so every week she sets aside a third of her income. What is saving? What is saving?

Vocabulary Application - $300 Matt borrowed $400 from the bank to buy a new television. When the bill came, Matt did not have $400 in his bank account, so Matt only paid the minimum payment. When the second bill came Matt had his remaining balance plus a 7% fee. What is the 7% that Matt had to pay? Matt borrowed $400 from the bank to buy a new television. When the bill came, Matt did not have $400 in his bank account, so Matt only paid the minimum payment. When the second bill came Matt had his remaining balance plus a 7% fee. What is the 7% that Matt had to pay? What is interest? What is interest?

Vocabulary Application - $400 Mary places $300 a month into her certificate of deposit. What type of investment is Mary participating in? Mary places $300 a month into her certificate of deposit. What type of investment is Mary participating in? Financial Investment Financial Investment

Vocabulary Application - $500 Keaton’s bank pays him 5% monthly interest on all deposits.. If Keaton deposits $200 one month, what type of interest is Keaton earning? Keaton’s bank pays him 5% monthly interest on all deposits.. If Keaton deposits $200 one month, what type of interest is Keaton earning? What is simple interest? What is simple interest?

Budget- $100 What must one do in order to figure out the amount that is left over after each month? What must one do in order to figure out the amount that is left over after each month? One must subtract the expenses from the income. One must subtract the expenses from the income.

Budget- $200 Andrew works at a comic book store making $7.25 an hour. He works 8 hours a day and 5 days a week. What is Andrew’s monthly income if there are 4 weeks in a month? Andrew works at a comic book store making $7.25 an hour. He works 8 hours a day and 5 days a week. What is Andrew’s monthly income if there are 4 weeks in a month? Andrew’s monthly income is $1,160. Andrew’s monthly income is $1,160.

Budget- $300 ______________ are items that are paid every month and are consistent. ______________ are items that are paid every month and are consistent. What is fixed-regular expenses? What is fixed-regular expenses?

Budget- $400 Staci spends $50 a week on food, entertainment, and personal items. She spends $800 a month on rent and $20 a week on gas to get too and from work. How much are Staci’s monthly expenses if there are 4 weeks in a month? Staci spends $50 a week on food, entertainment, and personal items. She spends $800 a month on rent and $20 a week on gas to get too and from work. How much are Staci’s monthly expenses if there are 4 weeks in a month? Food, Entertainment, and Personal Items - $50 x 4 = $200 each ($600); Rent $800 a month; Transportation is $20 x 4 = $80. Food, Entertainment, and Personal Items - $50 x 4 = $200 each ($600); Rent $800 a month; Transportation is $20 x 4 = $80. $600 + $800 + $80 = $1,480 $600 + $800 + $80 = $1,480

Budget- $500 Kyle works as a police officer. He makes $17.50 an hour. Kyle works 8 hours a day, 5 days a week (there are 4 weeks in a month). Kyle’s rent is $1,250 a month and it costs him $8 a day to ride the train to and from work. Kyle spends $90 a week on food. He likes to rock climb so Kyle spends $75 a week on entertainment. Calculate Kyle’s monthly budget. Income - $17.50 x 8 hours x 5 days a week x 4 weeks = $2,800 Income - $17.50 x 8 hours x 5 days a week x 4 weeks = $2,800 Rent – $1,250 Rent – $1,250 Transportation - $8 x 5 days a week x 4 weeks = $160 Transportation - $8 x 5 days a week x 4 weeks = $160 Food - $90 x 4 weeks = $360 Food - $90 x 4 weeks = $360 Entertainment - $75 x 4 weeks = $300 Entertainment - $75 x 4 weeks = $300 1,250 + $160 + $ = $2,070 1,250 + $160 + $ = $2,070 $2,800 - $2,070 = $730 $2,800 - $2,070 = $730

Entrepreneur - $100 What should an entrepreneur do if the demand for the new product began to rise quickly? What should an entrepreneur do if the demand for the new product began to rise quickly? The entrepreneur should raise his/her prices in order to get the most profit. The entrepreneur should raise his/her prices in order to get the most profit.

Entrepreneur - $200 Martha spent $14.42 to make tie-dye bracelets. Martha was able to make 23 bracelets. What is Martha’s unit cost? (Please round your answer to the nearest hundreth) Martha spent $14.42 to make tie-dye bracelets. Martha was able to make 23 bracelets. What is Martha’s unit cost? (Please round your answer to the nearest hundreth) Martha’s unit cost is about 63 cents. Martha’s unit cost is about 63 cents.

Entrepreneur - $300 Holly started selling dog paintings. On her first day of selling, Holly brought in $17 in change. At the end of the day, she had $65 total in her cash register. What was Holly’s profit for her first day of selling? Holly started selling dog paintings. On her first day of selling, Holly brought in $17 in change. At the end of the day, she had $65 total in her cash register. What was Holly’s profit for her first day of selling? Holly made a $48 profit. Holly made a $48 profit.

Entrepreneur - $400 Sarah started selling beaded necklaces. Sarah spent $23.45 to make 45 necklaces. On her first day of selling Sarah made a $56 profit. What was Sarah’s net profit after her first day of selling? Sarah started selling beaded necklaces. Sarah spent $23.45 to make 45 necklaces. On her first day of selling Sarah made a $56 profit. What was Sarah’s net profit after her first day of selling? Sarah’s net profit was $ Sarah’s net profit was $32.55.

Entrepreneur - $500 Amy started a business selling coasters. It costs her $0.86 to buy all the supplies to make one coaster. Amy decides to sell each coaster for $1.25 each. At the end of her first day of working, Emily has a $23.75 profit. What is Amy’s net profit after her first day of selling? Amy made $7.41 selling coasters. Amy made $7.41 selling coasters.

Other - $100 _______________ was one of the earliest transactions on earth. This is when a person trades an item or service for another item or service. _______________ was one of the earliest transactions on earth. This is when a person trades an item or service for another item or service. What is barter? What is barter?

Other - $200 ________________ is the amount of good or service there is and _______________ is determined by how many people want the good or service. ________________ is the amount of good or service there is and _______________ is determined by how many people want the good or service. What is supply; What is demand? What is supply; What is demand?

Other - $300 What causes inflation? What causes inflation? Too much money in circulation Too much money in circulation

Other - $400 When supply is high and demand is low, what would this mean for the price of the product? When supply is high and demand is low, what would this mean for the price of the product? The price would most likely go down. The price would most likely go down.

Other - $500 What does this mean for the price when demand is high and the supply is also high? What does this mean for the price when demand is high and the supply is also high? The price will be at its highest. The price will be at its highest.