What to create	Exam
Which subject	Mathematics
What age group	Year or Grade 11
What topic	Earning and Managing Money
Question types	Open-ended
Number of questions	5
Number of answers	4
Correct answers	Exactly 1
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Year 11 Mathematics Quiz: Earning and Managing Money

Instructions

Answer the following questions to the best of your ability. Each question requires a thoughtful response.

Questions

1. Calculating Savings Goals
   If you want to save $1,200 for a new laptop in one year, how much money do you need to save each month?

2. Interest Rates
   You deposit $5,000 into a savings account with a 4% annual interest rate, compounded annually. How much interest will you earn at the end of the year?

3. Budgeting
   You earn $800 a fortnight and your monthly expenses total $1,700. Calculate how much money you have left over at the end of the month after covering your expenses.

4. Understanding Loans
   You take out a loan for $10,000 with an interest rate of 5% per annum, to be paid back over 5 years. How much interest will you pay in total over the life of the loan?

5. Comparison of Offers
   You are considering two job offers:

   • Job A offers a salary of $60,000 per year with no benefits.
   • Job B offers a salary of $55,000 per year with a benefits package worth $5,000.
     Which job provides the better overall financial benefit?

Note

Be sure to show your calculations and reasoning for each question, as partial credit may be given! Good luck!