Prasanna

Refer to our Texas Go Math Grade 7 Answer Key Pdf to score good marks in the exams. Test yourself by practicing the problems from Texas Go Math Grade 7 Unit 7 Study Guide Review Answer Key.

Texas Go Math Grade 7 Unit 7 Study Guide Review Answer Key

Taxes, Interest, and Incentives

Texas Go Math Grade 7 Unit 7 Exercises Answer Key

Question 1.
Find the sales tax for each product, using a sales tax rate of 8.5%. Then find the product’s total price and the total for the entire purchase. Round to the nearest hundredth. (Lesson 13.1)

Answer:

The total cost including taxes is $50.18

Unit 7 Study Guide Answer Key Texas Go Math Grade 7 Solutions Question 2.
Claire earns a monthly paycheck of $2,900. Federal withholding is 12.8% of her gross pay. Complete the table. (Lesson 13.1)

Answer:

Net pay is $2,360.95

Question 3.
Bette has $10,000 to put into savings accounts. She puts half into an account that earns simple interest at an annual rate of 3.1%. She puts the other half into an account that earns interest at an annual rate of 2.6% compounded annually. After 10 years, which account will earn more money? How much more? (Lesson I 3.2)
Answer:
Total amount of money that Bette have = $10, 000
Rate of simp[e interest for half money = 3.1%
Rate of compound interest for remaining half money = 2.6%
Time duration for which money is kept in bank account = 10 years
Simple interest of half money for 10 year = \(\frac{5,000 \times 3.1 \times 10}{100}\)
= \(\frac{155,000}{100}\)
= $1,550
Total amount = 5000 + 1550 = $6550
Compound interest of half money for 10 year = 5000(1 + 0.026)¹⁰
= 5000 × 1.29
Total amount = $6463.14
Difference in total amount after 10 years = 6550 – 6463.14 = $86.86
Hence, a simple interest account will earn more money.

Unit 7 Math Test 7th Grade Review and Preview Answer Key Question 4.
Barack can buy a four-pack of mangos for $2.76 or a six-pack of mangos for $4.32. Which is the better buy? Explain. (Lesson 13.3)
Answer:
Case 1
Cost of four pack of mangos = $2.76
Now we with find cost of pack = \(\frac{2.76}{4}\) = $0.69
Case 2
Cost of six pack of mangos = $4.32
Now we will find cost of 1 pack = \(\frac{4.32}{6}\) = $0.72
First case in which four pack of mango cost $2.76 will be better option for buying because the after calculating the cost of one pack in each case we can see that in first case it is lesser as compared to second case.
Hence, four pack of mango for $2.76 is better buy.

Planning Your Future

Example 1.
The circle graph shows the Morales family’s monthly budget. Their fixed expenses are housing, savings, and an emergency fund. Use the graph to find the amount the family spends on fixed expenses.

Exercises

For 1-3, use the graph from the Example. (Lesson 14.1)

Question 1.
How much money does the Morales family spend on clothing each month?
Answer:
Net monthly income of Morales’s family = $5,200
Percentage of budget used for clothing = 6%
Money spent monthly on clothing = \(\frac{\text { Percentage }}{100}\) × Net monthly income
= \(\frac{6}{100}\) × 5,200
= 0.06 × 5,200
= $312
Hence, Morales family spend $312 per month on clothing

Question 2.
How much more money does the Morales family spend on food than on entertainment?
Answer:
Net monthly income of Morales’s family = $5. 200
Percentage of budget used for Food = 15%
Percentage of budget used for Entertainment 4%
Money spent monthly on Food = \(\frac{\text { Percentage }}{100}\) × Net monthly income
= \(\frac{15}{100}\) × 5,200
= 0.25 × 5,200
= 0.15 × 5,200
= $780
Money spent monthly on Entertainment = \(\frac{\text { Percentage }}{100}\) × Net monthly income
= \(\frac{4}{100}\) × 5,200
= 0.04 × 5,200
= $208
Difference of spending in month = 780 – 208 = $572
Hence, Morales family spends $572 more on food than entertainment

Unit 7 7th Grade Study Guide Answer Key Go Math Question 3.
The air conditioning in the Morales’s house is broken. The repair service estimated that the cost of repairing it is $1,040. How many months of emergency funds will the family use to fix the air conditioning?
Answer:
Net monthly income of Morales’s family = $5, 200
Percentage of budget used for emergency fund = 5%
Cost of repairing air conditioning = $1,040
Honey spent monthly on Emergency fund = \(\frac{\text { Percentage }}{100}\) × Net monthly income
= \(\frac{5}{100}\) × 5,200
= 0.05 × 5,200
= $260
Number of month for which emergency fund will be used = 2\(\frac{1040}{260}\) = 4
4 months of emergency fund will be used for repairing of air condition.

Question 4.
Mr. and Mrs. Clark have two children. They live in Waco, Texas. They may move to Austin to be closer to their parents. Their employers pay for 100% of one parent’s health insurance premium and 50% of the premium for other family members. Use an online family budget estimator to estimate to the nearest dollar, the following for the Clark family in Waco and in Austin.(Lesson 14.2)

Answer:


Household hourly wage are $17 and $20 respectively.

Question 5.
Rashid paid off his car, which is worth $6,500. He has a credit card balance of $325. He has $4250 in his savings account and $672 in his checking account. He owes $3,600 in student loans. He lives with his parents. What is Rashid’s net worth? (Lesson 14.3)
Answer:


Rashid’s net worth = Assets vaLue – Liabilities value
= 11,422 3,925
= $7,497
Hence, Rashid’s net worth is $7, 497.

Texas Go Math Grade 7 Unit 7 Performance Tasks Answer Key

Question 1.
CAREERS IN MATH Freelance Computer Programmer Andre works as a freelance computer programmer, and his laptop has stopped working. He is purchasing a new laptop, which he needs to have in 2 days in order to meet a job deadline. He lives in Massachusetts, which has a 6.25% sales tax. He is considering these three options for the purchase:
Buy it online for $1,499, pay sales tax, and pay $24 priority shipping.
Buy it in Massachusetts for $1,479.
Buy it in New Hampshire for $1,549 with no sales tax.

a. Calculate the total cost for each option. Which is the best deal?
Answer:
Determine the total cost for each option.
Online:
1,499 × 0.0623 = 93.6875 Determine the sales tax
1,499 + 93.6875 + 24 = 1, 616.6875 Determine the cost
Massachusetts:
1,479 × 0.0625 = 92.4375 Determine the sales tax
1.479 + 92.4375 = 1,571.4375 Determine the cost
Buying in New Hampshire will cost $1,549. Based on the three deals, the lowest deal is buying the laptop in New Hampshire.
The total cost for each deal, showed that the lowest deal is buying the laptop in New Hampshire.

b. List other factors that relate to the purchase that could also affect Andre’s decision.
Answer:
The factors that would affect Andre’s decision as to where to purchase a Laptop.

• The mode of transportation from Massachusetts to New Hampshire and vice-versa. If he has a car, then it is not a problem. If public transportation, the fare going to and from Massachusetts to New Hampshire.
• The availability of the Laptop in New Hampshire or in Massachusetts.
• The condition of the Laptop when it is purchased online.

The factors that would affect Andre’s decision.

Grade 7 Unit 7 Test Answer Key Texas Go Math Question 2.
Grant is going to purchase several large pizzas for a party. He has two options for local pizza shops as described below.
Hank’s Pizza: For every two pizzas, get a third at half price.
Antonio’s: 20% off of all orders of $40 or more.

a. Write a paragraph that describes the other information Grant needs in order to compare these options. Include both facts that relate to the pizzas and facts that relate to the event.
Answer:
First Grant needs to know how many people will come to his party. With this, he can estimate the number of pizzas
he will order. Grant also needs to know the price and the size of the Large pizza to compare the options. Also, Grant needs to consider the distance of the pizza shop to his house for the time of delivery.
The number of guests; the price and size of large pizza and distance of the pizza shop to his house.

b. Suppose large pizzas cost $13 at each shop. Compare the total cost at each shop for 3 pizzas and for 6 pizzas.
Answer:
Determine the total cost at each pizza shop.
Ordering 3 pizzas at Hank’s Pizza:
(2 × 13) + (13 ÷ 2) = 32.50
Ordering 6 pizzas at Hanks Pizza. Since the 3 pizzas would cost $32.50, multiply it by 2:
32.50 × 2 = 65
Ordering 3 pizzas at Antonio’s:
3 × 13 = 39
No discount because the total price is less than $10.
Ordering 6 pizzas at Antonio’s:
6 × 13 = 78
The cost is more than $40, there is a discount of 20%
78 × 0.20 = 15.6
78 – 15.6 = 62.4
at Hank’s Pizza (3 pizzas) = $32.50; (6 pizzas) = $65; at Antonio’s (3 pizzas) = $39; (6 pizzas) = $62.10

Texas Go Math Grade 7 Unit 7 Mixed Review Texas Test Prep Answer Key

Selected Response

Evan makes $2,800 a month and has $750 withheld as federal income tax. Use this information for 1-3.

Question 1.
How much does Evan pay for Social Security, which is 6.2% of his monthly salary?
(A) $127.10
(B) $173.60
(C) $2,626.40
(D) $2,672.90
Answer:
(B) $173.60

Net monthly income of Evan = $2, 800
Percentage of income that Evan pay for Social Security = 6.2%
Social Security payment = \(\frac{\text { Percentage }}{100}\) × Net monthly income of Evan
= \(\frac{6.2}{100}\) × 2,800
= 0.062 × 2,800
= 0.062 × 2,800
= $173.60

Question 2.
How much does Evan pay for Medicare, which is 1.45% of his monthly salary?
(A) $29.73
(B) $40.60
(C) $2,759.40
(D) $2,770.27
Answer:
(B) $40.60

Net monthly income of Evan = $2,800
Percentage of income that Evan pay for Medicare = 1.45%
Medicare payment = \(\frac{\text { Percentage }}{100}\) × Net monthly income of Evan
= \(\frac{1.45}{100}\) × 2, 800
= 0.0145 × 2, 800
= $40.60
Total deduction = $750 + $173.60 + $40.60 = 964.2
Net Pay = Gross pay – Total deduction
= $2,800 – $964.2
= $1,835.80

Question 3.
What is Evan’s net monthly pay?
(A) $1,835.80
(B) $1,876.40
(C) $2,050
(D) $2,585.80
Answer:
(A) $1,835.80

Net monthly income of Evan = $2,800
The amount withheld as Federal Income tax = $750
Amount Paid for Social Security = $173.60
Amount Paid for Medicare = $40.60
Medicare payment = \(\frac{\text { Percentage }}{100}\) × Net monthly income of Evan
= \(\frac{1.45}{100}\) ×
= 0.0145 x 2, 800
= $40.60
Total deduction = $750 + $173.60 + $40.60 = 964.2

7th Grade Unit 7 Test Study Guide Answer Key Question 4.
Which of the following is not an example of a fixed expense?
(A) weekly martial arts lesson
(B) monthly bus pass
(C) vacation
(D) rent
Answer:
(C) vacation

Vacation expense is not an example of Fixed expense because when we go on vacation the expenses are not strictly fixed. The expenses on vacation depend on different factor such as our mood, place, etc. So the expense amount is never fixed.

Question 5.
Bonnie deposits $180 in a savings account that earns simple interest at an annual rate of 3%. How much interest does her account earn after 10 years?
(A) $0.54
(B) $5.40
(C) $54
(D) $540
Answer:
(C) $54

Given Principal amount which is deposited in bank = $180
Rate of simple interest annually = 3%
Duration for which amount is kept in bank = 10 years
Simple interest for 10 year = \(\frac{180 \times 3 \times 10}{100}\)
= \(\frac{5400}{100}\)
= $54
Simple interest in 10 year will be $54

Question 6.
Shelby can purchase a 4-pound item from several different retailers. Which is the best buy?
(A) online for $19, plus shipping and handling costs $0.89 per pound
(B) online for $20, plus shipping and handling costs $0.59 per pound
(C) $29.95 with a $5-off coupon
(D) regularly priced for $30 on sale for 25% off
Answer:
(B) online for $20, plus shipping and handling costs $0.59 per pound

Total cost = $19 + (4 × 0.89) = $22.56
Total cost = $20 + (4 × 0.59) = $22.36
Total cost = $29.95 – $5 = $24.95
Total cost = $30 – (0.25 × 30) = $22.50
Hence, option B will be correct answer because in this case the cost of 4 pound items is least as compared to the other three options.

Question 7.
Which of the following is not an example of an expense?
(A) savings
(B) entertainment
(C) wages
(D) snacks
Answer:
(C) wages

Wages is not example of expense because it is the amount which we get after working for someone or any organisation. Wages are the source of income Whereas expenses are the amount which we give in order to buy
something or for any service we get.

Question 8.
Mr. Burr and his daughter live in Corpus Christi, Texas. Mr. Burr’s employer pays 100% of his insurance premium and 50% of the premiums for the rest of the family. His total monthly expenses according to an online family budget estimator are about $2,100. His payroll and income taxes are $257 and he gets tax credits of $245, what is his necessary monthly income?
(A) $2,088
(B) $2,817
(C) $2,112
(D) $3,827
Answer:
(C) $2,112

The family budget is $2100, the payroll and income taxes are $215 and the tax credits is $257, therefore the minimum montii1 income is $2100 + $245 – $257 = $2112, therefore C.

Question 9.
Which represents the solution for the inequality 6x – 9 < 9?
(A) x < 3 (B) x ≤ 3 (C) x > 3
(D) x ≥ 3
Answer:
(A) x < 3

Given in problem : 6x – 9 < 9
6x – 9 < 9 (Given)
6x – 9 + 9 < 9 + 9 (Adding ‘9’ on both side)
6x < 18 (Adding)
x < \(\frac{18}{6}\) (Dividing both side by ‘6’)
x < 3 (Simplifying)
Hence, option A is correct answer.

Question 10.
Anthony owns a home with a value of $140,000. He also owns a motorcycle worth $7,000. He has $22,500 in student loans to repay. He owes 9 monthly payments of $55 ‘each for his keyboard. He has a credit card balance of $785. He also has $3,400 in a bank account. What is Anthony’s net worth?
(A) $112,620
(B) $126,620
(C) $119,820
(D) $128,190
Answer:
(B) $126,620

Anthony’s net worth = Assets value – Liabilities value
= 150,400 – 23,780
= $126,620
Hence, option B is correct answer.

Question 11.
What is the volume of a triangular prism that has a height of 36 meters and a base with an area of 15 square meters?
(A) 180 m³
(B) 270 m³
(C) 360 m³
(D) 540 m³
Answer:
(D) 540 m³

Given base area of triangular prism = 15 metre²
Given height of triangular prism = 36 meter
Volume of triangular prism = Area of base × Height of triangular prism
= 36 × 15 m³
= 540 m³
Hence, Option D is correct answer.

Question 12.
Which of the following is an example of an asset?
(A) student loan
(B) money in a savings account
(C) credit card debt
(D) house mortgage
Answer:
(B) money in a savings account

Assets are something which we own and it has some positive cash value.
Money in a saving account will be the assets because money in our saving account is something which we own and
it has positive cash value. With this amount we can buy anything according to our need, also which will, have some positive cash value.
option B is correct answer

Grade 7 Unit 7 Study Guide Math Review Answer Key Question 13.
A bag contains 3 white marbles and 6 black marbles. You pick out a marble, record its color, and put the marble back in the bag. If you repeat this process 36 times, how many times would you expect to remove a black marble from the bag?
(A) 9
(B) 12
(C) 24
(D) 27
Answer:
(C) 24

Number of white marbles = 3
Number of black marbles = 6
Number of times for which experiment is repeated = 36

No of times in which black ball is removed = \(\frac{6}{9}\) × 36
= 6 × 4
= 24
Hence, option C is correct answer.

Gridded Response

Question 14.
Neelie bought a pair of shorts for $17.99 and 2 T-shirts for $6.89 each. What is the total price in dollars including an 8% sales tax?

Answer:
Cost of a pair of shorts = $17.99
Cost of 2 T-shirts = 2 × $6.89 = $13.78
Cost of shorts and T-shirts = 17.99 + 13.78 = $31.77
Given rate of saLes tax = 8%
Tota price including sates tax = 31.77 × (1 + 0.08)
= 31.77 × 1.08
= $34.31
Hence, the total cost including sales tax is $34.31

Hot Tip!

Underline key words given in the test question so you know for certain what the question is asking.

Question 15.
Len deposited $400 into an account earning interest at an annual rate of 2.5% compounded annually. What is the amount of interest in dollars that the account will earn after 5 years?

Answer:
Given Principal amount which is deposited in bank = $400
Rate of compound interest annually = 2.5%
Duration for which amount is kept in bank = 5 years
Total amount in account after 5 year = 400 × (1 + 0.025)⁵
= 400 × (1.025)⁵
= 400 × 1.131
= $452.56
Hence, total amount after 5 year will be $452.56.

Texas Go Math Grade 7 Unit 7 Vocabulary Preview Answer Key

Use the puzzle to preview key vocabulary from this unit. Unscramble the circled letters within found words to answer the riddle at the bottom of the page.

1. The things you own that have a positive cash value. (Lesson 14.3)
2. The amount of money you earn. (Lesson 14.1)
3. A plan for managing your money to help you reach your financial goals. (Lesson 14.1)
4. Debts you owe that have a negative cash value. (Lesson 14.3)
5. Expenses that occur regularly and stay the same (2 words). (Lesson 14.1)
6. The difference between assets and liabilities (2 words). (Lesson 14.3)

Question:
What did the fisherman give to the IRS?
A: His __ __ ___ __ __ __ __ ___!
Answer:

Refer to our Texas Go Math Grade 7 Answer Key Pdf to score good marks in the exams. Test yourself by practicing the problems from Texas Go Math Grade 7 Lesson 14.3 Answer Key Constructing a Net Worth.

Texas Go Math Grade 7 Lesson 14.3 Answer Key Constructing a Net Worth

Texas Go Math Grade 7 Lesson 14.3 Explore Activity Answer Key 

Identifying Financial Assets and Liabilities

Assets are the things you own. They have a positive cash value. Examples of assets are goods that are paid for and owned, such as houses, cars or bicycles, positive bank accounts, and savings bonds.

Liabilities are the debts you owe. They have a negative cash value. Examples of liabilities are car loans, house mortgages, credit card debt, or student loans.

For each description in the table below, decide whether the item is an asset or a liability. Explain your reasoning.

Reflect

Calculating Your Net Worth Lesson 9.4 Answer Key Question 1.
Critical Thinking How do you decide if something like a computer is an asset or a liability?
Answer:
The computer is an asset
Because assets are that thing which we owe and it has positive cash value. So in case of computer once we buy it we own it And also computer has positive cash value. This means that computer is assets and when we will sell it we will get some cash.
Computer is an assets

Your Turn

Determine whether each described item is an asset or a liability. Explain your reasoning.

Question 2.
George leases a car for $175 per month.
Answer:
Leasing a car will be liability
Because liabilities are those thing for which we have to pay and it has negative cash value. So in case of George who is leasing a car for $175 per month. lie has to pay $175 each month and this amount will be considered as the fixed exp expense. So every month owes the debit of $175 which means leasing a car is liabilities.
Leasing a car wilL be Liability

Question 3.
Morgana pays cash for a new flat screen television.
Answer:
Paying cash for new teLevision is asset
Because assets are those thing which we owe and it has positive cash value. So in case of buying new television once we buy it we own it. And also the television has positive cash value. This means that television is assets and when we will sell it in future we will get some cash.
Paying cash for new television is asset

Example 1

Use the information below to construct a net worth statement to find Toni’s current net worth.

Toni paid off her motorcycle, which is worth $6,000. She owes 12 monthly installments of $65 each for her computer. She pays $45 per month for her cell phone and her contract lasts 1 year. She has $584 ¡n her checking account and $1,255 in her savings account. Toni owes $173 on her credit card. Her electronic appliances are valued at $1,641. Her share of the rent and utilities for the apartment she shares with roommates is $425 per month, and her lease lasts for another 6 months.

Step 1 List and total Toni’s assets.

Step 2 List and total Toni’s liabilities.

Step 3 Subtract total liabilities from total assets to find Toni’s net worth.
Net worth = value of assets – value of liabilities

Toni’s current net worth is $5,437.

Reflect

Go Math Pdf Assets and Liabilities Worksheet 7th Grade Question 4.
Critical Thinking Why is the monthly payment for Toni’s computer loan multiplied by 12 to find the total liability?
Answer:
Monthly installment of Toni’s computer loan = $65
Yearly instalment of computer 12 × $65 = $780
Here we multiplied the monthly installment of computer with 12 because when we are finding the total Liabilities or assets the calculations are done on a yearly basis. In this case we are given with monthly payment of a computer loan
so to find the total loan payment of computer in a year we have to multiply it by 12.
Because total liability are calculated on yearly basis.

Question 5.
What If? What if Toni did not own her motorcycle? Suppose she bought it with a loan and must make monthly payments of $240 per month for 2 more years. How will this change her current net worth? Explain.
Answer:
If did now own her motorcycle and she bought it with loan a loan of $240 per month then in his assets list $600 will be Subtracted and in liabilities list 12 × 24 = $2880 will he add. The calculation is shown below:
Current value of assets = $9,480 – $6000 = $3,480
Current value of lininlities = $4.043 + $2880 = $6,923
Current Net Worth = Value of assets – value of liabilities
= $3480 – $6923
= -$3443
Hence, current net worth of Toni is -$3443

Your Turn

Question 6.
Andre owns a condominium with a value of $145,000. He has a stock portfolio worth $8,300. He owes $3,700 on his car, which is valued at $9,500. He has $7,200 in student loans to repay. He has a credit card balance of $4,372. He also has $2,600 in a bank account. Construct a net worth statement to find Andre’s net worth.
Answer:
List of Andre’s total assets:

List of Andre total liabilities:

Net worth = Value of assets – Value of liabilities
= $165,400 $15,272
= $150, 128
Hence, Andre net worth is $150,128

Texas Go Math Grade 7 Lesson 14.3 Guided Practice Answer Key  

Statement of Net Worth Grade 7 Texas Go Math Answers Question 1.
Complete the table below. For each description, either decide whether the item is an asset or a liability or explain the reasoning. (Explore Activity)

Answer:

Home mortgage is considered as liability

Question 2.
Rachel lives in a home with a value of $195,000 and has a mortgage of $160,000. She has electronic equipment worth $2,325. She is paying off the equipment with a loan of $875. Her car, which she owns, is worth
$9,300. She has $6,890 in a bank account and $1,437 on her credit card. She owes $4,800 in student loans. She has a piano worth $1,200. Construct a net worth statement to find Rachel’s net worth. (Example 1)
Step 1 List Rachel’s assets and their values.
Step 2 Find the total of Rachel’s assets. ______
Step 3 List Rachel’s liabilities and their values.
Step 4 Find the total of Rachel’s liabilities.____
Step 5 Find Rachel’s net worth.
Net worth = ___________
Rachel’s net worth is ____.
Answer:
List of Rachel’s total assets:

List of Rachel’s total liabilities :

Net worth = Value of assets – Value of liabilities
= $214, 715 $167. 112
= $47,603
Hence, Rachel’s net worth is $47, 603

Essential Question Check-In

Question 3.
How can you calculate your net worth?
Answer:
To calculate my net worth first i will list my all the assets and all the liabilities. Then we will calculate the current
values of my all the assets and liabilities. Once we are done with the current values of my all assets and liabilities,
we will add the total value of assets and total values of Liabilities separately. At last to find my net worth i will subtract the total value of Liability from the total assets value.
Net Worth = Value of assets – Value of Liabilities

Texas Go Math Grade 7 Lesson 14.3 Independence Practice Answer Key   

Question 4.
Communicate Mathematical Ideas Travis pays cash for an e-reader. The value of the e-reader is $1,200. He buys a stereo system with his credit card. The value of the stereo system is $2,300. Is the e-reader an asset or a liability? Is the stereo system an asset or a liability? Explain.
Answer:
e-reader will be asset for Tiavis because he has already paid the price of e-reader which is $1, 200. So now he owns the e-reader and it has some positive cash value which mean it will considered as asset.

But in case of stereo system Travis has not paid the amount of stereo system by himself. Travis has paid through credit card so she owes the same amount which he has to pay in future. So currently stereo system has negative cash value which means it will be considered a liability.
e-reader is assets and stereo system is liability

Go Math 7th Grade Answer Key Pdf Net Worth Question 5.
Estimate your net worth.
a. Create a table like the one below. List your assets. Include items such as your clothes, shoes, furniture, electronics (for example, a computer or a stereo), sports equipment, a musical instrument, money in a savings account, and savings bonds. Estimate the values.


Answer:

b. Create a table like the one below. List your liabilities. Include items such as any money borrowed from your parents, pre-ordering video games, or belonging to a club with monthly dues. Estimate the values.

Answer:

c. What is your approximate net worth? ______
Answer:
Net worth = Value of assets – Value of liabi[ities
= $3,400 – $1,850
= $1,550
Hence, my net worth is $1550
My net worth is $1550

Question 6.
Analyze Relationships In 2011, according to the Federal Reserve, the median net worth of people underage 35 was $14,200. The median net worth of those from 35 to 44 was $69,400.
a. About how many times as great was the net worth of those from 35 to 44 as compared to those under 35?
Answer:
Median net worth of people who under age 35 = $14, 200
Median net worth of people who who’s age 35 to 44 = $69, 400

Hence, the median net worth of people who’s age is between 35 to 4.88 times the median net worth of people who’s age is under 35.

b. Why do you think the median net worth is so much greater?
Answer:
The median net worth is so much greater because after the age of 35 people start saving money and they are investing in deferent area such as owning the house or car etc. This way their net worth start increasing.
4.88 times

H.O.T. Focus on Higher Order Thinking

Question 7.
Critique Reasoning Paul has a stock portfolio worth $21,000. His home is valued at $325,000. His car is valued at $18,000. He owes $322,000 on his mortgage and $16,250 on his car loan. His credit card debt is $11,750. He owes student loans of $17,300. Because the value of his home and his car exceed their loans and his stock portfolio exceeds his credit card and student loan debt, Paul says he has a positive net worth. Is this true? Explain.
Answer:


Net worth = Value of assets – Value of Liabilities
= $361, 000 $367, 300
= -$3,300
Hence, Paul’s net worth is negative and it is – $3, 300

Texas Go Math Grade 7 Lesson 9.4 Answer Key Question 8.
Explain the Error Jessie wants to buy a guitar. She has enough money in her bank accounts to pay cash for a new guitar for $1,150 or a used guitar for $500. Jessie wants to choose the guitar that has a better impact on her net worth. Why is this not a good approach for making the decision?
Answer:
Choosing a guitar should not be based upon which one should have a better impact on the net worth This is because, for example, if you are to purchase a used guitar and the quality is not as good as a brand-new guitar then over time the used guitar could not be useful anymore and you wouLd purchase a guitar. Sometimes, purchasing an item should be based on its quality in order to save money because the Life span of the item will be longer.
Purchasing an item should be based on its quality in order to save money because the life span of the item is longer.

Question 9.
Multistep Carla has a scooter worth $3,200. Her computer is worth $900. She owes $800 on her scooter and $483 on her credit card. Her personal property has a value of $2,100. She has $3,000 in her bank accounts and a mutual fund valued at $4,600. She wants to take out a $2,800 loan to buy some new appliances. The value of the appliances after purchase will go down 20%. How will the purchase of the appliances change Carla’s net worth? Explain.
Answer:
Determine the net worth of Carla.
3, 200 + 900 + (-800) + (-483) + 2, 100 + 3,000 + 4, 600 = 12, 517
The net worth of Carla is $12. 517. If she will take out $2,800 to purchase new appliances, her net worth will be:
12,517 – 2,800 = 9,717
If the purchased appliances will go down 20%, the appliances will be worth it.
Show 20% as decimal.
2. 800 × 0.20 = 560
2,800 – 560 = 2,240
Carla’s net, worth will then be:
9,717 + 2,240 = 11,957
The net worth of Carla will decrease by $560 once she purchases the new appliances because the value of the appliances will go down.
The net worth of Carla will decrease by $560 because of the purchased new appliances.

Texas Go Math Grade 7 Solutions Lesson 9.4 Answer Key Question 10.
Critical Thinking Do you think it is a good idea to track net worth monthly? Why?
Answer:
No, I don’t think tracking net work monthly is a good idea.
Because net worth is calculated on the basis of total assets and Liabilities which you have at the end of the financial or normal year if we start calculating net worth monthly every month our net worth will differ with a big margin. Some of our debts like credit card bills, and car loans, are paid monthly and these will be considered liabilities when we calculate net worth including these liabilities we may end up having net worth which will be not accurate or even close to our original net worth.
No, I don’t think tracking net work monthly is a good idea.

Refer to our Texas Go Math Grade 7 Answer Key Pdf to score good marks in the exams. Test yourself by practicing the problems from Texas Go Math Grade 7 Lesson 14.2 Answer Key Planning a Budget.

Texas Go Math Grade 7 Lesson 14.2 Answer Key Planning a Budget

Texas Go Math Grade 7 Lesson 14.2 Explore Activity 1 Answer Key

The Jones family includes two parents and two children. The family lives in Beaumont, Texas. They have an employer-sponsored ¡nsurance plan where the employer pays 100% of one parent’s insurance premium and 50% of the rest of the family’s premiums.

A. The table shows the minimum monthly expenses, rounded to the nearest dollar, for the family. The data is based on an online family budget estimator. Use this information to fill out the first column of rows 1-7 of the form given on the next page.

B. What is the combined household hourly wage for the Joneses? What does this mean if both parents are looking for a job and Mr. Jones finds a job paying $10 per hour?

C. The Joneses earn $600 more each month than the necessary monthly income. This allows them to save for retirement, emergencies, and college. Complete the chart for 8-10.

Your turn

Texas Go Math Grade 7 Solutions Lesson 14.2 Planning A Budget Question 1.
Mr. Wilson and his daughter Shannon live in El Paso, Texas. Mr. Wilson’s employer pays 100% of his health insurance premium and 50% of his daughter’s. Use an online family budget estimator to estimate the minimum necessary monthly income and the hourly household wage for this family.
Answer:


Necessary monthly income is $2250

Texas Go Math Grade 7 Lesson 14.2 Explore Activity 2 Answer Key

Exploring a Family Budget in Different Cities

Living in different parts of the country or the state can mean different budgets for even the same family. This may be because housing is more expensive in one area compared to another, or perhaps transportation costs are generally higher because most people live in the suburbs and have a further commute to work. The Jones family is considering a move to the Dallas—Fort Worth area. The table shows the expenses from the table in Activity 1, as well as the data from an online family budget estimator for living in the Dallas—Fort Worth area.

A Fill in the missing blanks for the Dallas—Fort Worth area. Round to the nearest dollar.

B. Compare the cost of living in Beaumont to the cost of living in the Dallas—Fort Worth area.

Your Turn

Texas Go Math Grade 7 Lesson 14.2 Independent Practice Answer Key Question 2.
Mr. Wilson and his daughter are thinking of moving to Austin. Use an online family budget estimator to compare the monthly required income in Austin with your results for the monthly required income you found for the Wilsons in El Paso.
Answer:


Necessary income in Austin is $17

Texas Go Math Grade 7 Lesson 14.2 Guided Practice Answer Key 

Question 1.
Mr. and Mrs. Dominguez have three children. They live in Corpus Christi, Texas. Their employers do not pay any of their health insurance. Use an online family budget estimator to estimate each of the following for the Dominguez family. Fill in the chart for Corpus Christi. (Explore Activity 1)

Answer:
Mr and Mrs Dominguez’s family’s Budget in Corpus Christi, Tx:


Hourly wage is $17.6

Go Math Grade 7 Answer Key Picture Description Question 2.
Complete the chart to show how the Dominguez family’s budget might change if they move to Lubbock, TX. (Explore Activity 2).
Answer:
Mr & Mrs Dominguez’s family’s budget in Corpus Christi, TX:


Necessary income in Lubbock is $20.80

Question 3.
How does the amount needed to live in Lubbock differ from the amount needed to live in Corpus Christi? (Explore Activity 2)
Answer:
The necessary amount needed in the Lublock is $3000 including tax but the amount needed to live in Corpus Christi is $3350. This is because the living cost is bit higher in Lubbock as compared to the living cost in Corpus
Christi. Cost like housing rent and transportation is higher in Lubhock than Corpus Christi. And due to this the household hourly wage is also more in Lubbock titan in Corpus Christi. The household cost in Corpus Christi is
$17.6 while in Lubbock it is $20.80.
Difference in amount = Difference of necessary income both city
= $3350 83000
= $550
The difference in the necessary income of both the city is $550

Texas Go Math Grade 7 Lesson 14.2 Independent Practice Answer Key  

Texas Go Math Grade 7 Budget or Bust Answer Key Question 4.
Multistep Andre and his parents are comparing family budgets in Midland, Texas, and San Antonio, Texas. Andre does not have any siblings. His parents have an employer-sponsored health plan.
a. Use an online family budget estimator to complete the table.

Answer:

b. How do the monthly expenses in San Antonio compare to those in Midland?
Answer:
The necessary amount needed in the Mildihild is $2100 including tax but the amount needed to live in San Antonio $3100. So, this means that the living cost in San Antonio is more as compared to the living cost of Midland. Cost like housing rent and transportation is higher in San Antonio than Midland.
Difference in amount = Difference of necessary income both city
= $3100 – $2400
= $700
Monthly expense in San Antonio is $3100 but in Midland, it is $700

Question 5.
Justify Reasoning Jolene and her two children live in Texarkana, Texas. Jolene has employer-sponsored health insurance. She earns an annual salary of $68,000. How does her monthly income compare to the necessary monthly income to live in Texarkana? Use an online family budget estimator to estimate the necessary monthly income. Explain your thinking.
Answer:
Annual Salary: $68,000.
Using the book, monthly expenses are:

Since \(\frac{68000}{12}\) = 5,666.66 is enough for handling the monthly expense of the family.
The necessary monthly income of $68. 000 is moderately enough for living in Texarkana.

Go Math Grade 7 Pdf Budget Worksheet Answer Key Question 6.
Choose a city in Texas that you would like to live in as a single adult, after graduating from college. Use an online family budget estimator to compare possible budgets with and without employer-sponsored health insurance.

Answer:


The necessary monthly income differs by $200

Question 7.
Draw Conclusions Luke earns an hourly wage of $ 14 and works 160 hours per month. He is a single adult living in Odessa, Texas. He does not have employer-sponsored health insurance. Luke’s expenses follow the budget outlined in an online family budget estimator, except that his rent is $435 and he spends about $230 on other necessities. Does Luke have enough additional money each month to buy a computer with monthly payments of $216? Explain.
Answer:
Monthly Saving of Luke = Monthly income – Monthly expenses
= $2240 $1415
= $825
Their monthly saving of Luke is $825 and the monthly payment for his computer is $216 which is less as compared to saving. So, yes Luke has enough additional money each month to pay for the computer.
Yes, Luke has enough money to pay each month for your computer.

Texas Go Math Grade 7 Answer Key Pdf Budget Question 8.
Analyze Relationships The Richardson family has two parents and two children. Their company is opening branches in Houston, McAllen, and Denison. The family needs to move to one of the cities. They use an online family budget estimator for no-employer insurance to help compare living expenses in each city. In Houston, they estimate they will exceed the estimated budget by $1,600. The salary offer for Houston is $68,000. In McAllen, they estimate they will exceed the estimated budget by $1,300. The salary offer for McAllen is $62,000. In Denison, they estimate they will exceed the estimated budget by $1,400. The salary offer for Denison is $67,000. If the family wants to save as much money as possible, which city should they choose? Explain.
Answer:
They should move to Denison because even though the salary offer for the city is $67000. that is $1000 less than that at Houston. the monthly excess in the budget is $1600 – $1400 = $200 less than that from Houston. It is a further $1600 – $1300 = $300 less monthly in McAllen but the salary is only $62000 which is way less than either Houston or Denison.
The Richardson family should move to Denison.

Refer to our Texas Go Math Grade 7 Answer Key Pdf to score good marks in the exams. Test yourself by practicing the problems from Texas Go Math Grade 7 Lesson 14.1 Answer Key Personal Budgets.

Texas Go Math Grade 7 Lesson 14.1 Answer Key Personal Budgets

Texas Go Math Grade 7 Lesson 14.1 Explore Activity 1 Answer Key

Identifying the Components of a Personal Budget

It can be tough to reach a long-term goal without making a plan for how to get there. A budget is a plan to help you reach your financial goals.

Some of the components of a budget are income, or the amount of money you earn, and expenses, or how much you spend. Expenses can include planned savings for college, retirement, emergencies, and taxes.
The goal of a budget is to spend no more than you earn, and save some additional money if you can.

Jenna is saving for a tablet for college. She is making a 4-week budget. The budget shows her total income and the various expenses she has, including saving for the tablet.

Step 1
Enter the total amount that Jenna will earn babysitting for 4 weekends in the table.

Step 2
Enter Jenna’s expenses and planned savings in the Expenses column.
Expenses: entertainment—$15 snacks—$10
Planned savings: college fund—$20 tablet—$25
Step 3
Complete the Amount Available column by adding each row of income and subtracting each row of expenses.
How much money does Jenna have available at the end of 4 weeks? What could she do with it?
Answer:

Reflect

Texas Go Math Grade 7 Lesson 14.1 Planning A Budget Question 1.
What If? What if Jenna misses a weekend babysitting? How would that affect the budget?
Answer:
Fixed expenses: guitar rental fee, saving for car, emergency saving.
Variable expenses: clothes, entertainment
Adding aLL the cost from the given table
Fixed expense = 15 + 30 + 10
= $55
Variable expense = 40 + 50
= $90

Identifying Types of Expenses

There are two different types of expenses: fixed expenses and variable expenses. Fixed expenses, such as car and house payments, occur regularly and do not change from month to month. A variable expense, such as purchases of food or gas, occurs regularly and is necessary for living, but you have some control over the amount.

Example 1.
A. The table shows Garrett’s monthly budget. To earn money, he mows lawns. Identify Garrett’s fixed and variable expenses.

Fixed expenses: guitar rental fee, savings for a car, emergency savings
Variable expenses: clothes, entertainment

B. The table shows Mrs. Everdeen’s monthly budget. Identify Mrs. Everdeen’s fixed and variable expenses.

Fixed expenses: taxes, retirement savings, rent, auto insurance Variable expenses: utilities, groceries and household supplies, clothing

Reflect

Question 2.
How are these budgets different?
Answer:
Fixed expenses : taxes, retirenient savings, rent, auto insurance.
Variable expenses : utilities, groceries. clothing.
Adding all the cost from the given table
Fixed expense = 550 + 150 + 850 + 50
= $1600
Variable expense = 70 + 125 + loo
= $595
In this budget $550 is given as taxes which is calculated as the fixed expenses, but the tax expense will depend upon tile amount wages or income which Mr. Everdeen gets each month. And the end of month he is left with $305 after all expenses.

Your Turn

Question 3.
Mallina is making a budget. The table shows the categories of expenses in her budget. In the second column of the table, use an F to mark fixed expenses and a V to mark variable expenses.

Answer:

snacks and entertainment are variable expenses.

Texas Go Math Grade 7 Lesson 14.1 Explore Activity 2 Answer Key

Analyzing a Family Budget

One way to present a budget is in a circle graph. You can see at a glance which categories take the greatest part of the family’s resources. You can also work backward from a circle graph to figure out exactly how much money is in each category.

Use the circle graph to complete the table for the Baker family’s monthly budget. Their net monthly income is $4,000.

Step 1: Enter the income in the table.
Step 2: Enter the percent or amount of money for each category from the circle graph in the table.
Step 3: Calculate the amount of money or the percent for each category in the table.
Step 4: Determine which expenses are fixed and which are variable. Place X’s in the appropriate columns.
Step 5: Complete the Amount Available column.

Reflect

Question 4.
Analyze Relationships One month, the family must make an emergency car repair for $305. Are they able to pay for it out of the fixed emergency fund for that month? If not, how can they afford it?
Answer:
Given net monthly income of Baker famiLy = $4, 000
Percentage of budget for emergency fund = 5%
Cost of emergency car repair = $305
So, amount for emergency fund = \(\frac{5}{100}\) × 4, 000
= 0.05 × 4000
= $200
The cost of emergency car repair is 305 but he has only $200 in his emergency fund. So he will not able to pay whole amount from emergency fund. Hence, he will need to take extra amount 305 – 200 = $ 105 from saving to pay the car repair cost.

Question 5.
The family wants to make a trip to Houston to visit the NASA Space Center. What are some ways they can save without using all of the allotted $160 for entertainment?
Answer:
While on trip to Houston to visit NASA space centre. the ways in which family can save without using ail the allotted $160 for entertainment are reducing their variable expenses such as :

1. Food expenses
2. Clothing expenses

YOUR TURN

For 6-8, use the circle graph of the Torres family’s monthly budget. Their net monthly income is $4,500.

Question 6.
How much does the Torres family Medical spend on housing each month?
Answer:
Net monthly income of the Torres family = $4. 500
Percentage of budget a Lotted for housing = 30%
Amount for housing = \(\frac{\text { Percent }}{100}\) × Total amount
Amount for housing = \(\frac{30}{100}\) × 4500
= 0.3 × 4500
= $1350
Hence, the amount allotted each month for housing is 1350
The amount allocated each month for housing is 1350

Go Math Grade 7 Lesson 14.1 Independent Practice Answer Key Question 7.
What percent of the budget does the Torres family spend on food? clothing?
Answer:
Net monthly income of the Torres family = $4. 500
Amount spent on food each month = $630
Amount spent on clothing each month = $360

= 0.14 × 100
= 14%
For clothing = \(\frac{360}{4500}\) × 100
= 0.08 × 100
= 8%
Hence, 14% of budget is spent on food and 8% on clothing
14% of budget is spent on food and 8% on clothing

Question 8.
During a thunderstorm, lighting strikes a large tree in the Torres family’s backyard. The tree needs to be removed. The cost to remove the tree is $500. Is there enough money budgeted in the allotted emergency fund? Explain. If not, how much more does the family need, and how could they find the money for it?
Answer:
Given net monthly income of Torres family = $4, 500
Percentage of budget for emergency fund = 4%
Percentage of budget for saving fund = 10%
Cost to remove tree from backyard = $500
So, amount for emergency fund = \(\frac{4}{100}\) × 4, 500
= 0.04 × 4500
= $180
Amount for saving fund \(\frac{10}{100}\) × 4. 500
= 0.1 × 4500
= $450

The cost of removing tree is 500 but he has only $ 180 in his emergency fund. So he will not able to pay whole amount from emergency fund. Hence, he will need to take an extra amount of 500 – 180 = $ 320 from saving to pay for removing tree from the background.
An extra $320 is needed from saving to pay for removing the tree

Texas Go Math Grade 7 Lesson 14.1 Guided Practice Answer Key 

Sofia is creating a budget to save $250 for a week of soccer camp. She earns money by working as a mother’s helper on Saturday mornings and Wednesday afternoons. She earns $20 each time she works. She wants to save $12.50 a week for the camp. Her mother wants her to save $5 a week for college. She is planning on spending $5 a week for snacks and $10 a week for entertainment.

Question 1.
Complete the table. (Explore Activity 1)

Answer:


Total income of a month is $ 160

Question 2.
Circle the variable expenses in Sofia’s budget. (Example 1)
Answer:
The Variable expenses of the Sofia’s 4-week budget are
Snacks = $20
Entertainment = $40
The Fixed expenses of the Sofia’s 4-week budget are:
Saving for soccer camp = $50
Saving for college = $20
Hence, total variabLe expenses is 20 + 40 = $60
Total variable expenses is $60

Question 3.
If Sofia decides to take piano lessons at the community center for $5 a week, would that be a fixed expense or a variable expense?
________ (Example 1)
Answer:
Fixed expense

If Sofia decides to take Piano lessons at the community centre for the $5 then this cost will be regarded as the fixed expanse. Because every week Sofia has to pay $5 at community centre. And this cost will be fixed, which will not change once Sofia is enrolled for classes. So total Sofia has to pay $20 in a month.

For 4-5, use the circle graph of the Talbot family’s Talbot monthly budget. Their monthly income is $3,200. (Explore Activity 2)

Question 4.
What percent of the Talbot family budget is 6 spent on rent? _______________________________
Answer:
Net monthly income of the Talbot family = $3. 200
Amount of budget allotted for rent = $800

= \(\frac{1}{4}\) × 100
= 25%
Mence, trie percentage of budget allotted each month for rent is 25%
Percentage of budget allotted each month for rent is 25%

Personal Budgets Lesson 14.1 Answer Key Grade 7 Question 5.
If the Talbots did not have to make a credit card payment, and instead put that money into savings, how much would they be able to save each month? _________________________
Answer:
Net monthly income of the Talbot family = $3,200
Percentaget of budget allotted for credit card = 4%
Percentaget of budget allotted for saving = 8%
Amount of budget for credit card = \(\frac{\text { Percent }}{100}\) × Total monthly income
Amount allotted for credit Savings = \(\frac{4}{100}\) × 3, 200
= 0.04 × 3200
= $128
Amount alloted for savings = \(\frac{8}{100}\) × 3,200
= 0.08 × 3200
= $ 256
Total saving in month = 128 + 256 = $384
Hence, the total saving of the month is $384
Total saving in a month is $384

Essential Question Check-in

Question 6.
How does a budget help an individual or a family manage their finances?
Answer:
Budget helps an individual or a family manage their finance in many ways such as when there is an emergency need of money, than in that tough situation we are able to manage that amount from the emergency fund of the budget. Also when there is something we want to buy in future like car, house, etc for that also we can fix a small percentage from our budget to achieve that. So simply budget makes us the worry free in month.
Budget makes the individual or family burden free.

Texas Go Math Grade 7 Lesson 14.1 Independent Practice Answer Key  

For 7-8, use the table.

Question 7.
Complete the Amount Available column in the table.
Answer:


saving after all expense is $145

Question 8.
The swim camp costs $280. How long will it take Kareem to save enough for the camp? Show your work.
Answer:
Given total cost of swim camp = $280
Saving of Kareem for swimming camp per month = $40

= 7
Hence, it will take 7 months to save enough money for camp
7 months

For 9-12, use the circle graph for the Moore family’s monthly budget. Their monthly income is $5,000.

Question 9.
What percent of the Moore’s income goes to taxes?
Answer:
Net monthLy income of the Moore’s family = $5, 000
Amount that goes for the taxes = $850

= 0.17 × 100
= 17%
Hence, the percentage of income that goes to taxes is 17%
Percentage of income that goes to taxes is 17%

Question 10.
How much does the Moore family spend each year on insurance?
Answer:
Net monthly income of the Moore family = $5, 000
Percentage of budget allotted for insurance = 12%
Amount of budget for insurance = \(\frac{\text { Percent }}{100}\) × Total monthly income
Amount allotted for insurance each month = \(\frac{12}{100}\) × 5,000
= 0.12 × 5000
= $600
Yearly spending of Moore famiLy on insurance = 12 × Monthly spending
Yearly spending on insurance = 12 × 600 = $7, 200

Question 11.
Draw Conclusions Emily says that the Moore family spends $300 more on recreation than on transportation. Is she right? Explain.
Answer:
Net monthly income of the Moore’s family = $5, 000
Amount that spent on recreation = $500
Percentage go budget spent on transportation = 6%
Amount of budget for transportation = \(\frac{\text { Percent }}{100}\) × Total income amount
Amount for transportation = \(\frac{6}{100}\) × 5,000
= 0.06 × 5,000
= $300
Difference in amount = Recreation – Transportation = 500 – 300 = $200
So, Emily is not correct because Moore’s family spends $200 more on recreation than on transportation, not $300 as
Hence, the percentage of income that goes to taxes is 17%
No, Emily is not correct.

Budgeting Math Problems Lesson 14.1 Answer Key Question 12.
Communicate Mathematical Ideas. Moore’s monthly income increases by $500, but the mortgage expense stays the same. Explain how to find what percent of the budget the mortgage payment would now be.
Answer:
Initially monthly income of Moore’s family = $5, 000
Amount of increase in monthly income = $500
Percentage of budget for mortgage = 22%
It is given in the problem that the mortgage expense remains the same even after there is increase of $500 in monthly income
Amount of mortgage expense = \(\frac{22}{100}\) × 5,000
= 0.22 × 5,000
= $1100
New monthly income of Moore’s family 5000 + 500 = $5, 500
New percentage mortgage expense = \(\frac{1100}{5,500}\) × 100
= \(\frac{100}{5}\)
= 20%
Hence, the new percentage of mortgage expense is 20%
The new percentage of mortgage expense is 20%

H.O.T. Focus on Higher Order Thinking

The circle graph shows the Rivera family’s monthly budget. Their monthly income is $4,500. The table shows the budget for the Wagner family. Their monthly income is $4,200.

Question 13.
Analyze Relationships Which family pays a greater part of their income for transportation (including car payments)? Explain your conclusion.
Answer:
Monthly income of the Rivera family = $4. 500
Percentage of budget for transportation = 8%
Percentage of budget for Car payment = 4%
Amount spent on transportation = \(\frac{8}{100}\) × 4, 500
= 0.08 × 4.500
= $360
Amount spent on Car payment = \(\frac{4}{100}\) × 4, 500
= 0.04 × 4.500
= $180
Total Money spent by Rivera family on transportation = 360 + 180 = $540
Total Money spent by the Wagner family on transportation = $630
Hence, the Wagner family spends more on transportation as compared to the Rivera family.
The Wagner family spends more on transportation as compared to the Rivera family.

Question 14.
Multistep Over a year, which family pays more for medical insurance? How much more?
Answer:
Monthly income of the Rivera family = $4, 500
Percentage of budget medical insurance = 10%
Amount spent on Medical insurance = \(\frac{10}{100}\) × 4, 500
= 0.1 × 4,500
= $450
Rivera family spending on Medical insurance in year = 12 × 450 = $5. 400
Wagner famiLy spending on medical insurance in year = 12 × 504 = $6,048
Difference of medical insurance spending = $6,048 – $5. 400 = $648
Hence, Wagner family pays more for medical insurance in a year and the amount is $648 more as compared to the spending of Rivera family.
Wagner family spend $648 more on medical insurance.

Question 15.
Multiple Representations Compare the two budgets. What are the advantages and disadvantages of each type of presentation?
Answer:
Advantage and disadvantage of the pie chart presentation are :

• Pie chart represent! t lie large set of data in visual form.
• Pie chart shows the relative proportion of data.
• In pie chart circle is made in proportion of whole data.
• Pie chart does not reveals the exact values.
• If there are too many data then it becomes less effective.

Advantage and disadvantage of the tabular chart presentation are :

• In tabular chart representation exact value of data is present.
• In this case it becomes easy for comparing two data.
• In tabular representation the data is not shown in proportion.
• Also it becomes difficult to represent when there is large sets of data.

In pie chart representation of large data is easy whereas in case of tabular chat representation it is difficult.

Refer to our Texas Go Math Grade 7 Answer Key Pdf to score good marks in the exams. Test yourself by practicing the problems from Texas Go Math Grade 7 Module 14 Answer Key Planning Your Future.

Texas Go Math Grade 7 Module 14 Answer Key Planning Your Future

Texas Go Math Grade 7 Module 14 Are You Ready? Answer Key

Complete these exercises to review skills you will need for this chapter.

Compare. Write. > or <.

Question 1.
4.051 4.501
Answer:
In the given problem, we have to find out which is greater 4.051 or 4.501
To find which one is greater we will plot both given numbers on the number line and among the given two, the number on the right side of the number line will be greater than the number on the left side of the number line.
So, 4.051 < 4.501

Texas Go Math Grade 7 Solutions Module 14 Answer Key Question 2.
73.090 73.089
Answer:
In given problem we have to find out which is greater 73.090 or 73.089
To find which one greater we will plot both given number on the number line and among the given two, the number which on the right side of number line will be greater than the number which on the left side of number line.
So, 73.090 > 73.089

Find each product.

Question 3.

Answer:
Given in problem: 716 × 12

716 × 12 = 8592

Grade 7 Go Math Module 14 Answer Key Question 4.

Answer:
Given in problem 491 × 31

Question 5.

Answer:
Given in problem 608 × 35

Question 6.

Answer:
Given in problem 449 × 52

Find each percent.

Question 7.
40% of 30 ________
Answer:
Given in problem: 40% of 30
We know that value of percentage = \(\frac{\text { Percent }}{100}\) × Total value
40% of 30 = \(\frac{40}{100}\) × 30
= 0.4 × 30
= 12

Go Math Grade 7 Answer Key Pdf Module 14 Question 8.
9% of 26 _________
Answer:
Given in problem: 9% of 26
We know that value of percentage = \(\frac{\text { Percent }}{100}\) × Total value
9% of 26 = \(\frac{9}{100}\) × 26
= 0.09 × 26
= 2.34

Question 9.
48% of 130 _________
Answer:
Given in problem: 48% of 130
We know that value of percentage = \(\frac{\text { Percent }}{100}\) × Total value
48% of 130 = \(\frac{48}{100}\) × 130
= 0.48 × 130
= 62.4

Question 10.
66% of 29 _______
Answer:
Given in problem: 66% of 29
We know that value of percentage = \(\frac{\text { Percent }}{100}\) × Total value
66% of 29 = \(\frac{66}{100}\) × 29
= 0.66 × 29
= 19.14

Question 11.
140% of 12 _______
Answer:
Given in problem: 140% of 29
We know that value of percentage = \(\frac{\text { Percent }}{100}\) × Total value
140% of 29 = \(\frac{140}{100}\) × 12
= 1.4 × 12
= 16.8

Module 14 Go Math Grade 7 Answer Key Pdf Question 12.
100% of 584 _______
Answer:
Given in problem: 100% of 584
We know that value of percentage = \(\frac{\text { Percent }}{100}\) × Total value
100% of 584 = \(\frac{100}{100}\) × 584
= 1 × 584
= 584

Texas Go Math Grade 7 Module 14 Reading Start-Up Answer Key

Visualize Vocabulary

Use the ✓ words to complete the graphic. You will put a different one in each box.

Understand Vocabulary

Complete each sentence, using the preview words.

Question 1.
____________________ occur regularly and stay the same.
Answer:
Fixed Expenses occur regularly and stay the same

Question 2.
A plan to help you reach your financial goals is a _________
Answer:
A plan to help you reach your financial goals is a budget

Refer to our Texas Go Math Grade 7 Answer Key Pdf to score good marks in the exams. Test yourself by practicing the problems from Texas Go Math Grade 7 Module 12 Quiz Answer Key.

Texas Go Math Grade 7 Module 12 Quiz Answer Key

Texas Go Math Grade 7 Module 12 Ready to Go On? Answer Key

12.1 Populations and Samples

Question 1.
A company uses a computer to identify their 600 most loyal customers from its database and then surveys those customers to find out how they like their service. Identify the population and determine whether the sample is random or biased.
Answer:
It is given in the problem that company uses the database from computer to identify their 600 most loyal customers so here all the customers in database will be Population and 600 loyal costumers will be the sample.
Also it is mentioned that company are identifying the 600 most loyal costumers so the sample will be biased sample. Because the identification of loyal costumers will be done on certain condition, hence each customer will not get equal chance for being loyal costumer.

All the customers in the database will be population.

12.2 Making Inferences from a Random Sample

7th Grade Go Math Answer Key Module 12 Answer Key Question 2.
A university has 30,330 students. In a random sample of 270 students, 18 speak three or more languages. Predict the number of students at the university who speak three or more languages. ____
Answer:
Total number of students in university = 30,330
Number of students in random sample = 270
Number of students who speak 3 or more Language = 18

Hence, 2,022 students in university can speak 3 or more language.

12.3 Comparing Populations

Question 3.
The box plot shows data that was collected on two basketball players over 20 randomly selected games in order to analyze the number of points each player has scored per game over his career. Make an inference from this data.

Answer:
Comparing the Boxplot of player 1 and Player 2 :

⇒ Length of box and whisker of player 1 is smaller as compared to the player 2.
⇒ Median of points of player 1 is 27 which is less as compared to the median of player 2 is 35. This means median point of player 2 is 7 more than player 1.
⇒ Range of player 1 = 38 – 17 = 21 and the Range of player 2 = 45 – 0 = 45.
⇒ Points of player 1 are lesser spread as compared to the points of the second player.

The length of the box and whisker of Player 1 is smaller as compared to Player 2.

Essential Question

Go Math Answer Key Grade 7 Module 12 Quiz Question 4.
How can you use random samples to compare populations and make inferences?
Answer:
We can use the data from a random sample for comparing the population and making interference. Random
samples are more likely to contain data that can be used to make predictions about a whole population. The size of a sample influences the strength of the inference about the population. we can also use the proportion formula for
comparing the population.

Random sample can be used to compare populations.

Texas Go Math Grade 7 Module 12 Mixed Review Texas Test Prep Answer Key 

Selected Response

Question 1.
The box plot shows the results from a survey in which 50 of the school’s 7th graders were asked about their height. Which could you infer based on the box plot below?

(A) Most 7th graders are at least 65 inches tall.
(B) Most 7th graders are at least 54 inches tall.
(C) Almost no 7th graders are less than 60 inches tall.
(D) Almost no 7th graders are more than 60 inches tall.
Answer:
(B) Most 7th graders are at least 54 inches tall.

When we observe the given boxplot we can see that centre of box or median is 61 and the lower quartile is 54 and upper quartile is 65. Here lower quartile is 54 which means that only 25% or less 7th grade students are shorter than 54 inch. Hence at least 75% students are at least 54 inch taller So we can say that most 7th graders are at least 54 inches tall.
hence, option B is correct answer.

Question 2.
A middle school has 490 students. Mae surveys a random sample of 60 students and finds that 24 of them have pet dogs. How many students are likely to have pet dogs?
(A) 98
(B) 196
(C) 245
(D) 294
Answer:
(B) 196

Total number of students in middle school = 490
Number of students in random sample = 60
Number of students who have pet dogs = 24

so, 192 students in middle school have pet dogs
Hence, option B is the correct answer

Module 12 Form A Module Test Texas Go Math Grade 7 Question 3.
Caitlyn finds that the experimental probability of her making a three-point shot is 30%. Out of 500 three-point shots, about how many could she predict she would make?
(A) 100
(B) 115
(C) 125
(D) 150
Answer:
(D) 150

Experimental probability of making three-point = 30%
Total number of three-point shots = 500
Number of shots Caitlyn can predict = \(\frac{\% \text { of 3-point shots }}{100}\) × Total number of shots
= \(\frac{30}{100}\) × 500
= 0.3 × 500
= 150
So, Caitlyn can predict she would make 150 three-point shots.
Hence, option D is correct answer.

Question 4.
Which of the following is a random sample?
(A) A radio DJ asks the first 10 listeners who call in if they liked the last song.
(B) 20 customers at a chicken restaurant are surveyed on their favorite food.
(C) Members of a polling organization survey 800 registered voters by randomly choosing names from a list of all registered voters.
(D) Rebecca used an email poll to survey 100 students about how often they use the internet.
Answer:
(C) Members of a polling organization survey 800 registered voters by randomly choosing names from a list of all registered voters.

Random sample : A sample in which every person, object, or event has an equal chance of being selected is called as the Random Sample.
So incase of option C there are total 800 registered voters who are being surveyed by polling organisation but they are choosing the vote randomly from the list. Hence out of 800 voters each one has an equal chance of being selected for the survey. Thus this sample will be a random sample.
Hence, option C is correct answer.

Gridded Response

Go Math Grade 7 Module 12 Test Answer Key Question 5.
Mary wanted to know the amount of time 7th-grade students spend on homework each week, so she surveyed 20 students at random. The results are shown below.

There are 164 students in the 7th grade. Predict how many 7th-grade students spend 5 hours on homework in a week.

Answer:
Total number of students in 7th grade = 164
Number of students in random sample = 20

Hence, 41 students of 7th grade spends 5 hours on homework.

Steps for marking the given box:

1st column : mark ‘+’ sign
2nd column: mark ‘0’
3rd column : mark ‘0’
4th column: mark ‘4’
5th column : mark ‘1’
6th column : mark ‘0’
7th column : mark ‘0’

41 students of 7th grade spends 5 hours on homework.

Refer to our Texas Go Math Grade 7 Answer Key Pdf to score good marks in the exams. Test yourself by practicing the problems from Texas Go Math Grade 7 Module 12 Answer Key Random Samples and Populations.

Texas Go Math Grade 7 Module 12 Answer Key Random Samples and Populations

Texas Go Math Grade 7 Module 12 Are You Ready? Answer Key
Complete these exercises to review skills you will need for this module.

Write each fraction as a decimal and a percent.

Question 1.
\(\frac{1}{2}\)
Answer:
0.5

Go Math Grade 7 Answer Key Pdf Module 12 Question 2.
\(\frac{3}{4}\)
Answer:
0.75

Question 3.
\(\frac{2}{5}\)
Answer:
0.4

Question 4.
\(\frac{7}{10}\)
Answer:
0.7

Find the range of the data.

Question 5.
52, 48, 57, 47, 49, 60, 59, 51 ____
Answer:
13

Order the data from the least to greatest.
47, 48, 49, 51, 52, 57, 59, 60
The range if the difference between the greatest and the least data values.
The range = 60 – 47 = 13

Question 6.
5, 9, 13, 6, 4, 5, 8, 12, 12, 6 ______
Answer:
9

Order the data from the least to the greatest.
4, 5, 5, 6, 6, 8, 9, 12, 12, 13
The range is the difference between the greatest and the least data values.
The range = 13 – 4 = 9

Texas Go Math Grade 7 Module 12 Test Answers Question 7.
97, 106, 99, 97, 115, 95, 108, 100 ___
Answer:
20

Order the data from the least to the greatest.
95, 97, 97, 99, 100, 106, 108, 115
The range if the difference between the greatest and the least data values.
The range = 115 – 95 = 20

Question 8.
27, 13, 35, 19, 71, 12, 66, 47, 39 ___
Answer:
59

Order the data from the least to greatest.
12, 13, 19, 27, 35, 29, 47, 66, 71
The range if the difference between the greatest and the least data values.
The range = 71 – 12 = 59

Find the mean of each set of data.

Question 9.
3, 5, 7, 3, 6, 4, 8, 6, 9, 5 ______
Answer:
5.6

mean = \(\frac{3+5+7+3+6+4+8+6+9+5}{10}\)
= \(\frac{56}{10}\)
= 5.6

Texas Go Math Grade 7 Solutions Module 12 Answers Question 10.
8.1, 9.4, 11.3, 6.7, 6.2, 7.5
Answer:
8.2

mean = \(\frac{8.1+9.4+11.3+6.7+6.2+7.5}{6}\)
= \(\frac{49.2}{6}\)
= 8.2

Texas Go Math Grade 7 Module 12 Reading Start-Up Answer Key

Visualize Vocabulary

Use the ✓ words to complete the right column of the chart.

Understand Vocabulary

Complete each sentence, using the preview words.

Question 1.
An entire group of objects, individuals, or events is a ______
Answer:
A population

Texas Go Math Grade 7 Module 12 Answer Key Question 2.
A _____ is part of the population chosen to represent the entire group.
Answer:
A sample

Question 3.
A sample that does not accurately represent the population is a ___.
Answer:
A biased sample

Refer to our Texas Go Math Grade 7 Answer Key Pdf to score good marks in the exams. Test yourself by practicing the problems from Texas Go Math Grade 7 Lesson 13.1 Answer Key Calculating Sales and Income Tax.

Texas Go Math Grade 7 Lesson 13.2 Answer Key Calculating Sales and Income Tax

Example 1.
Rafiq purchases products from a nursery for his yard. The table shows his purchases and the prices. The sales tax rate is 7.5%. Find the total cost of his purchase, including tax.
Answer:
Find the tax on each item.
Black-Eyed Susan: ($6.25 . 2) . 7.5%
$12.50 . 0.075 = 0.9375 = 0.94

Step 2
Add the subtotal and the tax on each item to find its total price. Add to find the total cost of his purchase.
$12.50 + 0.94 = $13.44

The total cost of his purchase is $83.25.

Your Turn

7th Grade Sales Tax Math Problems Question 1.
What If? Suppose Rafiq returned to the nursery and bought a second tree priced at $49.99 and two packages of fertilizer priced at $12.99 each. Find the total cost of his purchase, including tax. ____
Answer:
Calculate tax for every product.
Second tree:($49.99. 1) . 7.5%
$49.99 . 0.075 = $3.74925 = $3.75
Package of fertilizer:($12.99 . 2) . 7.5%
$25.98 . 0.075 = $1.9485 = $1.94
Find a sum for the subtotal and the tax on each of them.
Total for the second tree:
$49.99 + $3.75 = $53.74
Total for packages of fertilizer:
$25.98 + $1.94 = $27.92

Total cost of his purchase is sum of total for every product and that is $164.91.

Tax for second tree is $3.75. Tax for packages of fertilizer is $1.94 Total, cost of his purchase is $164

Example 2.
Quinn’s gross monthly pay is $2,050. Federal withholding is 11.4% of her gross pay. Part of her monthly pay statement is shown in Step 2 below. Find Quinn’s net pay after all deductions.
Answer:
Step 1
Find the amount that is deducted for federal withholding.
Federal withholding = $2,050 × 0.114
= $233.70
Step 2
Find the total deductions
Gross Pay
Monthly Wages $2,050.00
Taxes
Federal Withholding $233.70
Social Security (6.2%) $127.10
Medicare (1.45%) $29.73
Total deductions = $233.70 + $127.10 + $29.73 = $390.53
net pay = gross pay – total deductions
= $2,050.00 – $390.53 = $1,659.47
Quinn’s net pay each month is $1,659.47.

Your Turn

How to Find the Sales Tax Rate in Go Math Question 2.
Arnetta’s monthly gross pay is $4,200. Federal withholding is 16.05% of her pay. Her other deductions total $321.30. Find her net pay.
Answer:
Fid the federal withholding of lier pay.
Write the percent as decimal, ie 16.05% = 0.1605.
Federal withholding $4. 200 × 0.1605 = $674.1
To find the total deductions, add federal withholding and her other deductions.
Total deductions = $674.1 + $321.30 = $995.4
Net pay is gross pay less total deductions.
Net pay = gross pay total deductions
= $4,200 – $995.4 = $3,204.6
Arnetta’s net pay each month is $3,204.6.

Example 3.
After deductions, Jonah has a taxable income of $26,318. He paid a total of $4,059 in federal withholding. Find the tax due on Jonah’s income. Then tell whether he will have to pay an additional amount or will get a refund.
Answer:
Step 1
Use a tax table to find the tax for a gross income of $26,318.

Step 2
Compare the tax due of $3,524 with the tax withheld of $4,059. $4,059 – $3,524 = $535
Jonah paid $535 more than he owed.

Question 3.
Glenda’s taxable income is $26,222. She paid $2,640 in federal withholding. Find the tax due on Glenda’s income. Then tell whether she will have to pay an additional amount or will get a refund. Use the tax table in Example 3.
Answer:
From the table, the tax for a gross income of $26,222 is $3, 509.
She paid $2,610 in federal withholding, which is less than the tax from the tax table.
Hence, she will have to pay the difference between the tax from the table and the amount she paid in the federal withholding, which is
$3,509 – $2,610 = $869
she will have to pay $869

Texas Go Math Grade 7 Lesson 13.1 Guided Practice Answer Key 

Find each amount. Use a sales tax rate of 8%. (Example 1)

Question 1.

sno	Product description	Unit price	Number	Subtotal	Tax(8%)	Total
1.	Pens(3 pack)	$3.59	3	$10.77

Answer:
Write the tax rate as decimal. ie 8% = 0.08
Tax = Subtotal × Tax
Tax = $10.77 × 0.08 = $0.86
Now, add the subtotal and the tax to find the total price.
Total = $10.77 + $0.86 = $11.63
Total is $11.63.
The tax is $0.86.
The total is $11.63

Taxation Answer Key 7th Grade Go Math Question 2.

s.no	Product Description	Unit price	Number	Subtotal	Tax(8%)	Total
2.	Notebooks(2 pack)	$1.99	2	$3.98

Answer:
Write the tax rate as decimal. ie 8% = 0.08
Tax = Subtotal × Tax
Tax = $3.98 × 0.08 = $0.32
Now, add the subtotal and the tax to find the total price.
Total = $3.98 + $0.32 = $4.3
Total is $4.3
The tax is $0.32.
The total is $4.3

Question 3.

sno	Product description	Unit price	Number	Subtotal	Tax(8%)	Total
3.	Backpack	$44.99	1	$44.99

Answer:
Write the tax rate as decimal. ie 8% = 0.08
Tax = Subtotal × Tax
Tax = $41.99 × 0.08 = $3.62
Now, add the subtotal and the tax to find the total price.
Total = $44.99 + $3.6 = $48.59
Total is $48.59
The tax is $3.62.
The total is $48.59.

Question 4.

sno	Product description	Unit price	Number	Subtotal	Tax(8%)	Total
4.	Highlighters(4 pack)	$5.15	1	$5.15

Answer:
Write the tax rate as decimal. ie 8% = 0.08
Tax = Subtotal × Tax
Tax = $5.15 × 0.08 = $0.41
Now, add the subtotal and the tax to find the total price.
Total = $5.15 + $0.41 = $5.56
Total is $5.56
The tax is $0.41.
The total is $5.56.

Lesson 13.1 Independent Practice Answer Key 7th Grade Go Math Question 5.

Answer:
To find the total cost, add all totals which we calculated in the previous questions.
Total cost = $11.63 + $4.3 + $48.59 + $5.56 = $70.08
The total cost is $70.08.

Question 6.
Juan earns a monthly salary of $3,200. Federal withholding is 14.1% of his gross pay. Juan has a total of $244.80 deducted for Social Security and Medicare. Find his net pay. (Example 2)
Answer:
First, find the federal withholding of his pay.
Write the percent as decimal, ie 14.1% = 0.141.
Federal withholding = $3,200 × 0.141 = $451.2
To find the total deductions, add federal withholding and deductions for Social Security and Medicare.
Total deductions = $451.2 + $244.80 = $696
Net pay is gross pay less total deductions.
Net pay = gross pay — total deductions
= $3, 200 – $696 = $2. 501
Juan’s net pay each month is $2, 504.

Question 7.
Lizaveta’s taxable income is $26,380. She paid $2,940 in federal withholding. Use a problem solving model to determine whether she will have to pay an additional amount or will get a refund. Use the tax table in Example 3. (Example 3)
Answer:
From the table, the tax for a gross income of $26,380 is $3,531.
She paid $2,940 in the federal withholding, which is less than the tax from the tax table.
Hence, she will have to pay the difference between the tax from the table and the amount she paid in the federal withholding. which is
$3,531 – $2,910 = $591
She will have to pay $591.

Essential Question Check-In

Question 8.
Suppose the sales tax rate in your area is 7.5%. Explain how to determine the total cost, including tax, of an eReader that costs $125.
Answer:
First, we have to find the tax of an eReader.
Write percent as decimal, ie 7.5% = 0.075.
Multiply the cost of eReader by the sales tax rate to find the find the tax.
$125 × 0.075 = $9.375
The tax of an eReader is $9.375.
To find the total cost. of eReader add the cost of eReader and the tax.
$125 + $9.375 = $134.375
The total cost of eReader is $134.375.

Texas Go Math Grade 7 Lesson 13.1 Independent Practice Answer Key  

Question 9.
Roland is purchasing pottery supplies for his pottery class. He buys a portable pottery wheel for $382.00, modeling clay for $12.00, and a pottery tool set for $16.14. If the tax rate is 8.25%, find the total tax he paid. Then find the total cost of his purchases.
Answer:
First, we have to find the tax of each item.
The tax rate is 8.25%.
Write the tax rate as decimal, ie 8.25% = 0.0825.
A portable pottery wheel priced at $38200
Tax = $382.00 × 0.0825 = $31.515
Now, add the total and the tax to find the total price.
Total = $382.00 + $31.515 = $413.515
Modeling clay priced at $12.00
Tax = $12.00 . 0.0825 = $0.99
Now, add the total and the tax to find the total price.
Total = $12.00 + $0.99 = $12.99
Pottery tool set priced at $16.14
Tax = $16.14 . 0.0825 = $1.33
Now, add the total and the tax to find the total price.
Total = $16.14 + $1.33 = $17.47
To find the total tax he paid, totalize all taxes.
Total Tax = $31.515 + $0.99 + $1.33 = $33.835
Finally, add all total prices to find the total cost of his purchase.
$413.515 + $12.99 + $17.47 = $443.975
The total cost of his purchase is $443.975.
The total tax he paid is $33.835.
The total cost of his purchase is $443.975.

Question 10.
Megna has $300 to buy a digital camera. She finds one she likes that costs $275.

a. Suppose the tax rate is 7.3%. Does Megna have enough to buy the camera? Explain.
Answer:
First. find the tax of a digital camera that costs 8275.
Vrite the tax rate as decimal. ie 7.3% = 0.073.
Tax = $275 × 0.073 = $20.075
Now, add the cost of a digital camera and the tax to find to total cost of a digital camera.
Total cost = $273 + $20.075 = $295.073
The total cost of a digital camera that Megna wants to buy is $295.075, hence she has enough money to buy it.

b. Megna discovers that the digital camera needs a memory card. She finds a memory card on sale for $9.99 plus tax. Can Megna afford the card?
Answer:
The total cost of a digital camera is $295.075 and Megna has $300.
After she buys a digital camera, she remains $4.925.
A memory card costs $9.99 plus tax, which is more from what she had left.
Hence, she can not afford the memory card.

Question 11.
Casey is looking at the used car shown. Suppose that Casey is able to get $1,200 in trade for his old vehicle. The sales tax rate is 7.75%. How much will Casey pay in taxes on the reduced sales price?
Answer:
Determine the price of the used car when Casey traded his old vehicle.
12,999 – 1,200 = 11,799
After the trade, the car cost $11,799. Determine the sales tax for the car.
Show the tax rate as a decimal.
11.799 × 0.0775 = 914.4225 ≈ 914.42
The sales tax for the car is $914.42.

Question 12.
What’s the Error? Lauren wants to buy 3 shirts at $15.00 each. At home, she calculates the totai cost as $46.20, using the sales tax rate of 8%. At the store, the cashier tells Lauren the total cost is $48.60. Who is wrong and what mistake did he or she make?
Answer:
Each shirt costs $15.00 and 3 shirts cost 3 × $15.00 = $45.
Write the tax rate as decimal. ie 8% = 0.08.
First, find the tax of 3 shuts.
Tax = $45 × 0.08 = $3.6
Now, add the cost of 3 shirts and the tax to find the total cost of shirts.
Total cost = $45 + $3.6 = $18.6
The total cost of 3 shirts is $48.6, hence Lauren made a mistake.
The mistake Lauren made is that she did not calculated the tax of all 3 shirts. but only of one shirt.
Let ‘s check.
The tax of one shirt is
The tax = $15 × 0.08 = $1.2
Now, add the cost of 3 shirts mid the tax of one shirt to find the total cost.
Total cost = $45 + $1.2 = $46.2
Lauren made a mistake.

7th Grade Go Math Lesson 13.1 Total Purchase Price Answer Key Question 13.
Camden earns $25 per hour and works 40 hours a week.

a. Camden gets paid every 2 weeks. Federal withholding is 15.6% of his gross pay, Social Security is 6.2% of his gross pay, and Medicare is 1.45%. Find Camden’s net pay after 2 weeks. Show your work.
Answer:
First, find Camden’s gross pay for 2 weeks.
He works 40 hours a week, hence he works 80 hours for 2 weeks.
He earns $25 per hour. hence lie earns 80 × $25 = $2, 000 for 2 weeks.
First, find the Federal withholding of his gross pay.
Write the percent as decimal, ie 15.6% = 0.156.
Federal withholding = $2,000 × 0.156 = $312
Second, find the Social Security of his gross pay.
Write the percent as decimal, ie 6.2% = 0.062.
Social Security = $2. 000 × 0.062 = $124

Third, find the Medicare of his gross pay.
Write the percent as decimal, ie 1.45% = 0.0145.
Social Security = $2,000 × 0.0145 = $29
To find the total deductions, add Federal withholding and Social Security and Medicare.
Total deductions = $312 + $124 + $29 = $465
Net pay is gross pay less total deductions.
Net pay = gross pay – total deductions
= $2,000 – $465 = $1,535
Camden’s net pay after 2 weeks is $1,535.

b. What If suppose Camden gets a raise of $5 per hour and pays 17.2% of his gross pay in federal withholding. What would his net pay for 2 weeks be? Make sure to factor in his social security and Medicare withholdings.
Answer:
Now, suppose Camden gets a raise of $5 per hour, hence he earns $30 per hour.
He works 80 hours for 2 weeks, so he earns 80 × $30 = $2,400 for 2 weeks.
Also, Federal withholding is now 17.2%.
Find the Federal withholding of his gross pay.
Write the percent as decimal, ie 17.2% = 0.172.
Federal withholding = $2, 400 × 0.172 = $412.8
The rate of Social Security and Medicare are the same as in Part a.
Find the Social Security of his gross pay.
Write the percent as decimal, ie 6.2% = 0.062.
Social Security = $2. 100 × 0.062 = $148.8
Find the Medicare of his gross pay.
Write the percent as decimal, ie 1.45% = 0.0145.
Medicare = $2. 400 × 0.0 145 = $34.8

To find the total deductions. add Federal withholding and Social Security and Medicare.
Total deductions = $412.8 + $148.8 + $34.8 = $596.4
Net pay is gross pay less total deductions.
Net pay = gross pay – total deductions
= $2,400 – $569.4
= $1,803.6
Camden’s net pay after 2 weeks will be $1, 803.6.

Question 14.
Critique Reasoning Samantha said adding 6% to the cost of an item for sales tax makes the total cost 106% of the original price. Joshua disagrees. Is Samantha’s reasoning accurate? Explain.
Answer:
Yes, it is.
When you calculate the sales tax of an item, you calculate it of the original, price of that item, and that original price represents the 100% of that item.
So, when you calculate 6% of the original price and add it to the original price, which is 100%, that sum is 100% + 6% = 106% of the original price.

Question 15.
After deductions, Elizabeth’s taxable income was $28,536. She had $344 withheld each month for taxes. Use the tax table shown to find how much she will get as a refund or owe.

Answer:
From the table, the tax for taxable income of $28,536 is $3,854.
She had $341 withheld each month for taxes, so for a year she had withheld
12 × $344 = $4,128
The amount she had withheld is greater than the amount of tax is. so she will get a refund.
The refund = $4. 128 – $3,854 = $274
She will get a refund of $274.

Texas Go Math Grade 7 Lesson 13.1 H.O.T. Focus on Higher Order Thinking Answer Key  

Question 16.
Persevere in Problem Solving A family buys groceries for $ 149.98, including $10.07 in taxes. The bill includes $26.95 worth of items that are not taxable. Find the sales tax rate. Round your answer to the nearest tenth of a percent.
Answer:
First, we have to subtract the worth of items that are not taxable from the whole bill, to find the bill of all groceries that are taxable.
$149.98 – $26.95 = $123.03
$123.03 is the bill of all groceries that are taxable.
Now, taxes apply only to this amount, $123.03.
We have to find how much $10.07 is actually a percentage of $123.03 and that would represent the sales tax rate.
How to find what percent of X is Y.
The percentage formula is
\(\frac{Y}{X}\) = P%
In our case, Y = 10.07 and X = 123.03.
\(\frac{10.07}{123.03}\) = 0.08
The result will always be in decimal form, not percentage form.
We need to multiply the result by 100 to get the percentage.
0.08 × 100 = 8
Hence, the sales tax rate is 8%.

Question 17.
Multistep Suppose the personal income tax rate is changed to a flat rate of 15% of one’s taxable income. Use the tax table in problem 15 to investigate the effect of the change in the rate on a single taxpayer with a taxable income of $28,443.
Answer:
From the table, the tax for taxable income of $28,113 is $3,839.
Let’s find how much $3,839 is actually a percentage of $28,413 and that would represent the tax rate from the table.
How to find what percent of X is Y.
The percentage formula is
\(\frac{Y}{X}\) = P%
In our case, Y = 3,839 and X = 28,443.
\(\frac{3,839}{28,443}\) = 0.13
The result will always be in decimal form, not percentage form.
We need to multiply the result by 100 to get the percentage.
0.13 × 100 = 13
The tax rate from the table is 13%. which is less than 15%.
Hence, this change would effect bad on a single taxpayer because lie would pay more if the tax rate is 15%.
This change would effect bad on a single taxpayer because he would pay more if the tax rate is 15%.

Question 18.
Represent Real-World Problems You have $3,000 to spend on a laptop. Suppose the tax rate is 6.78%. What is the maximum you can spend on a laptop if you know you will also be purchasing a $25 case? Explain.
Answer:
When you add the tax rate on the cost of some item, you get the total cost of that item.
Total cost = The cost + The tax
The cost of a item represents 100% of that item and when you add the tax rate(given in percent), the total cost in percent will be
Total cost% = 100% + Tax rate(%)
In this case, you have $3,000 to spend on a laptop and a case.
Hence, the total cost of a laptop and a case must not be greater than $3.000.
The tax rate is 6.78%. so the total cost of a laptop and a case in percent is
100% + 6.78% = 106.78%

$3,000 is actually 106.78%. and we want to know how much money is 100% which is, in our case, the cost of a laptop and a case.
We can set a proportion to calculate that.
$3,000 represents 106.78%, and we want to know how much money is 100%.
Let x be the amount of money that represents this 100%, ie the maximum amount of money we can spend on a laptop and a case.
The proportion:

The cost of a laptop and a case is $2, 809.51.
We know that the cost of a case is $25. so we have to subtract the cost of a case from $2, 809.51.
$2, 809.51 – $25 = $2,781.51
The maximum cost of a laptop is $2,784.51.

Refer to our Texas Go Math Grade 7 Answer Key Pdf to score good marks in the exams. Test yourself by practicing the problems from Texas Go Math Grade 7 Lesson 12.2 Answer Key Making Inferences from a Random Samples.

Texas Go Math Grade 7 Lesson 12.2 Answer Key Making Inferences from a Random Samples

Texas Go Math Grade 7 Lesson 12.2 Explore Activity 1 Answer Key  

Using Dot Plots to Make Inferences

After obtaining a random sample of a population, you can use statistical representations of the data from the sample, such as a dot plot or box plot, to make inferences about the population.

Rosee asked students on the lunch line how many books they had in their backpacks. She recorded the data as a list: 2, 6, 1, 0, 4, 1, 4, 2, 2. Make a dot plot for the books carried by this sample of students.

Step 1:
Order the data from least to greatest. Find the least and greatest values in the data set.
Step 2:
Draw a number line from 0 to 6. Place a dot above each number on the number line for each time it appears in the data set.

Reflect

Question 1.
How are the number of dots you plotted related to the number of data values?
Answer:

In the above dot plot, each dot represents a single student carrying that particular number of books. For example on the number line at 2, the number of dots is three, which means that there are 3 students who have two books in their backpacks. So simply we can say that the number of dots represents the number of students.

A number of dots represent the number of students.

Go Math Grade 4 Lesson 12.2 Answer Key Question 2.
Complete each qualitative inference about the population.
Most students have _____________ 1 book in their backpacks.
Most students have fewer than ___________ books in their backpacks.
Most students have between _____________ books in their backpacks.
Answer:
Most students have at least 1 book in their backpacks.
Most students have fewer than six books in their backpacks.
Most students have between two to six books in their backpacks.

Most students have at least 1 book in their backpacks.

Question 3.
What could Rosee do to improve the quality of her data?
Answer:
The number of sample of students taken by Rosee is only nine which is very small as compared to the number of students in school. And we know that the accuracy of any data is directly proportional to number of data collected or size of the sample. So if the size of sample is large then the probability of common result is more.
Hence, to improve the quality of her data Rosee should increase the number of sample of students.
Rosee should increase the size of sample.

Rosee should increase the size of sample to improve quality of data.

Texas Go Math Grade 7 Lesson 12.2 Explore Activity 2 Answer Key 

Using Box Plots to Make Inferences
You ‘can also analyze box plots to make inferences about a population.

The number of pets owned by a random sample of students at Park Middle School is shown below. Use the data to make a box plot.
9, 2, 0, 4, 6, 3, 3, 2, 5

step 1:
Order the data from least to greatest. Then find the least and greatest values, the median, and the lower and upper quartiles.
The lower and upper quartiles can be calculated by finding the medians of each “half” of the number line that includes all the data.

Step 2:
Draw a number line that includes all the data values.
Plot a point for each of the values found in Step 1.

Step 3:
Draw a box from the lower to upper quartile. Inside the box, draw a vertical line through the median. Finally, draw the whiskers by connecting the least and greatest values to the box.

Reflect

Making Inferences 7th Grade Lesson 12.2 Answer Key Question 4.
Complete each qualitative inference about the population.
A good measure for the most likely number of pets is _____
50% of the students have between ________ and 3 pets.
Almost every student in Parkview has at least _______________ pet.
Answer:
A good measure for the most likely number of pets is three because the median of the given data is 3
50% of the students have between 0 and 3 pets because out of all the given data, half of the data is between 0 to 1
Almost every student in Parkview has at least two pets because except 1 student everyone has at least 2 pets.

Almost every student in Parkview has at least 2 pets.

Using Proportions to Make Inferences

A random sample has a good chance of being representative of the population. You can use data about the sample and proportional reasoning to make inferences or predictions about the population.

Example 1.
A shipment to a warehouse consists of 3,500 MP3 players. The manager chooses a random sample of 50 MP3 players and finds that 3 are defective. How many MP3 players in the shipment are likely to be defective?
Answer:
It is reasonable to make a prediction about the population because this sample is random.
Step 1
Set up a proportion.

Step 2
Substitute values into the proportion.

Based on the sample, you can predict that 210 MP3 players in the shipment would be defective.

Your Turn

Question 5.
What If? How many MP3 players in the shipment would you predict to be damaged if 6 MP3s in the sample had been damaged?
Answer:
Total number of MP3 player in warehouse = 3, 500
Number of MP3 player taken in random sample = 50
Number of damage MP3 player in random sample = 6

z = 420
Hence, we can predict that 420 MP3 players would have been damaged.

we can predict that 420 MP3 players would have been damaged.

Reflect

Lesson 12.2 Making Statistical Inferences Answer Key Question 6.
How could you use estimation to check if your answer is reasonable?
Answer:
To check answer to the previous problem is reasonable or not we can use estimation. In the problem, it is given that there are a total of 3,500 MP3 players and the manager is choosing a sample of 50 MP3 players. This means that the number of samples will \(\frac{3,500}{50}\) = 70. It is also given that in each sample 6 MP3 players are defective, so out of 50, 6 MP3 players are defective. Hence 70 samples the number of defective MP3 players will be 6 × 70 = 420. So the answer found in the previous problem is reasonable.

Number of defective MP3 player: 6 × 70 = 420

Texas Go Math Grade 7 Lesson 12.2 Guided Practice Answer Key 

Patrons in the children’s section of a local branch library were randomly selected and asked for their ages. The librarian wants to use the data to infer the ages of all patrons of the children’s section so he can select age-appropriate activities. (Explore Activity 1 and 2)

7, 4, 7, 5, 4, 10, 11, 6, 7, 4

Question 1.
Make a dot plot of the sample population data.

Answer:

Number of children is represented by dots.

Question 2.
Make a box plot of the sample population data.

Answer:

Box plot of sample population data is shown in different colour.

Question 3.
The most common age of children that use the library is ______ and _____.
Answer:
The most common age of the children that uses the library is four and seven. Because there are three students of age four and three students of age seven in local library out given sample which is ten number of students.

Question 4.
The range of ages of children that use the library is from _______ to ____.
Answer:
The range of ages of children that use the library is from four to eleven. Because out the given sample (age of the students who are in the local library) students with the least age is 4 and the student with a maximum age of 11.

Lesson 12.2 Making Inferences From A Random Sample Answer Key Question 5.
The median age of children who use the library is ____.
Answer:
Arranging the given data: 4, 4, 4, 5, 6, 7, 7, 7, 10, 11
So, here we can see that total number of sample is 10 which an even number. And the total number of sample is even then the median of sample is the average of two middle number.
Median of given sample will be the mean of 5th and 6th term.
Median = \(\frac{6+7}{2}\)
= \(\frac{13}{2}\)
= 6.5
The median age of children that use the library is 6.5

Question 6.
A manufacturer fills an order for 4,200 smart phones. The quality inspector selects a random sample of 60 phones and finds that 4 are defective. How many smart phones in the order are likely to be defective? (Example 1)
About ____ smart phones in the order are likely to be defective.
Answer:
Total number of smart phone ordered = 4,200
Number of smart phone random sample = 60
Number of defective smart phone in random sample = 4
defective smart phone in sample defective smart phone in population

Hence, we can predict that 280 smart phone would have been defective.
About 280 smart phones in the order are likely to be defective.

Question 7.
Part of the population of 4,500 elk at a wildlife preserve is infected with a parasite. A random sample of 50 elk shows that 8 of them are infected.
How many elk are likely to be infected? (Example 1)
Answer:
Number of people at a wildlife = 4,500
Number of people in random sample = 50
Number of infected people in random sample = 8

Hence, we can predict that 720 people would have been infected.

Essential Question Check-In

Question 8.
How can you use a random sample of a population to make predictions?
Answer:
A sample in which every person object or event has an equal chance off being selected is called as random sample. So random sample of population can used to make the predictions. For example there are 600 students in school. We went in canteen and asked the random sample of 60 students that how many books do they have in
their backpack. And the 15 students replied that they have 4 books. By using the proportional relation we can predict that out of 600 students in school \(\frac{15}{60}\) = \(\frac{x}{600}\) the number students with 4 books are x = 150. Hence in this way a random sample of a population is used to make predictions.

By proportion relation we can use random sample of population to make predictions.

Texas Go Math Grade 7 Lesson 12.2 Independent Practice Answer Key 

Question 9.
A manager samples the receipts of every fifth person who goes through the line. Out of 50 people, 4 had a mispriced item. If 600 people go to this store each day, how many people would you expect to have a mispriced item?
Answer:
Total number of people going to store = 600
Number of people in random sample = 50
Number of people who have misplaced item = 4

Hence, we can predict that 48 people have mispriced items.

Question 10.
Jerry randomly selects 20 boxes of crayons from the shelf and finds 2 boxes with at least one broken crayon. If the shelf holds 130 boxes, how many would you expect to have at least one broken crayon?
Answer:
Total number of crayons boxes on shelf = 130
Number of crayons boxes in random sample = 20
Number of boxes with broken crayons = 2

Hence, we can expect out of 130 crayons boxes 13 boxes are with broken crayons.

Question 11.
A random sample of dogs at different animal shelters in a city shows that 12 of the 60 dogs are puppies. The city’s animal shelters collectively house 1,200 dogs each year. About how many dogs in all of the city’s animal shelters are puppies?
Answer:
Total number of dogs in city’s animal shelter = 1, 200
Number of dogs which are puppies = 12
Number of dogs taken in sample = 60

Hence, we can predict that out of 1,200 dogs, 240 dogs may be puppies.

Lesson 12.2 Independent Practice Answer Key 6th Grade Question 12.
Part of the population of 10,800 hawks at a national park is building a nest. A random sample of 72 hawks shows that 12 of them are building a nest. Estimate the number of hawks building a nest in the population.
Answer:
Total number of hawks at the national park = 10, 800
Number of hawks who are building nests = 12
Number of hawks taken in sample = 72

Hence, we can predict that out of 10,800 hawks, 1800 hawks building nests.

Question 13.
In a wildlife preserve a random sample of the population of 150 raccoons was caught and weighed. The results, given in pounds, were 17,19,20,21, 23,27,28, 28, 28 and 32. Jean made the qualitative statement, “The average weight of the raccoon population is 25 pounds.” Is her statement reasonable? Explain.
Answer:
In the given problem, the weight of att the 150 raccoons is not given so we cannot find the average weight of 150 raccoons. But in problem, is the average weight of 150 raccoons is given 25 pounds. So the best way to find the average weight will be by finding the median of the given 10 weights.
Arranging weight in increasing order: 17, 19, 20, 21, 23, 27, 28, 28, 28, & 32.
(Here we can see that total number of sample (arranged in increasing order) is 10 which an even number And we know that when number of terms is an even number then the median is average of the two middle term. So here median will be the average of 5th and 6th term.)
Median = \(\frac{23+27}{2}\)
= \(\frac{50}{2}\)
= 25
Hence, the median is 25 so, Jean’s statement is reasonable.

Question 14.
Greta collects the number of miles run each week from a random sample of female marathon runners. Her data is shown below. She made the qualitative statement, “25% of female marathoners run 13 or more miles a week.” Is her statement reasonable? Explain. Data: 13, 14, 18, 13, 12, 17, 15, 12, 13, 19, 11, 14, 14, 18, 22, 12
Answer:
Arranging miles in increasing order: 11, 12, 12, 12, 13, 13, 13, 14, 14, 14, 15, 17, 18, 18, 19, 22
Total number of random sample = 16
Number of sample which are 13 or more miles = 12

Hence, 75% of female marathoner runs 13 or more miles.
So, Greta’s statement is not reasonable as she said 25% of female marathoner runs 13 or more miles.

Question 15.
A random sample of 20 of the 200 students at Garland Elementary is asked how many siblings each has. The data was ordered as shown. Make a dot plot of the data. Then make a qualitative statement about the population. Data: 0, 1, 1, 1, 1, 1, 1, 2, 2, 2, 2, 2, 3, 3, 3, 3, 4, 4, 4, 6
Answer:

Every dot represent the number of students with that particular number of siblings. For example at “1” number of dot is 6, this means that there 6 students who have 1 sibling.
In above dot plot we can see that maximum dot are between 1 and 4. So maximum number of students have siblings between 1 to 4. And there is only one student who have no siblings and also one students have 6 siblings.
Maximum students have siblings between 1 and 4.

Question 16.
Linda collects a random sample of 12 of the 98 Wilderness Club members’ ages. She makes an inference that most wilderness dub members are between 20 and 40 years old. Describe what a box plot that would confirm Linda’s inference should look like.
Answer:
It is given in problem that the age of most of the club member are between 20 to 40 years. This means that the maximum portion of the boxplot of this data will be between 20 to 40. So the box of box plot data representation will entirety lie between the 20 and 40.

Box of boxplot will lie between 20 t0 40.

Question 17.
What’s the Error? Kudrey was making a box plot. He first plotted the least and greatest data values. He then divided the distance into half, and then did this again for each half. What did Kudrey do wrong and what did his box plot look like?
Answer:
Kudrey thought that the box will show equal quartiles by dividing the distance between the least and greatest data values into four. A box plot has five statistical summary of the data set which are the median, least and greatest values, and the lower and upper quartiles. It s easy to plot the least and greatest values. Kudrey should determine the median from the data set and plot it as well. The median divides the data into two halves After which, determine the quartiles by determining the median of the two halves, which will be the lower and upper quartiles, respectively

Kudrey thought that the box will show equal quartiles by dividing the distance between the least and greatest data values into four.

Texas Go Math Grade 7 Lesson 12.2 H.O.T. Focus on Higher Order Thinking Answer Key 

Question 18.
Communicating Mathematical Ideas A dot plot includes all of the actual data values. Does a box plot include any of the actual data values?
Answer:
The median in the dot plot can be determined once calculated. The box plot can show some of the actual data values. These are the least and greatest data values and the median.

Least and greatest data values and the median

Question 19.
Make a Conjecture Sammy counted the peanuts in several packages of roasted peanuts. He found that the bags had 102, 114, 97, 85, 106, 120, 107, and 111 peanuts. Should he make a box plot or dot plot to represent the data? Explain your reasoning.
Answer:
Since the data set does not have any duplicates, a box plot is more applicable to represent the data. This is because the data values can be easily represented through a box plot. The box plot would show the five key values to represent a set of data. These are the least and greatest data values, the lower and upper quartiles, and the median. The interquartile range can also be determined through the use of the box plot

Question 20.
Represent Real-World Problems The salaries for the eight employees at a small company are $20,000, $20,000, $22,000, $24,000, $24,000, $29,000, $34,000 and $79,000. Make a qualitative inference about a typical salary at this company. Would an advertisement that stated that the average salary earned at the company is $31,500 be misleading? Explain.
Answer:
Evaluate the average salary front the given data, therefore:

Evaluate:
Average salary = 31,500
It can be seen that the average salary is evaluated to he $31,500 but the given data does not reveal so. This is because there is one outlier in this data set which is $79,000. if the average salary is evaluated by flot considering
this value, it will be:

Evaluate:
Average salary = 24,714
This is a more accurate measure of the average salary. Therefore yes the advertisement stating that the average salary is $31,500 is misleading.

Yes, the advertisement stating that the average salary is $31,500 is misleading because there is an outlier in the given data set, without which the average salary come out to be $24,714.

Refer to our Texas Go Math Grade 7 Answer Key Pdf to score good marks in the exams. Test yourself by practicing the problems from Texas Go Math Grade 7 Module 13 Quiz Answer Key.

Texas Go Math Grade 7 Module 13 Quiz Answer Key

Texas Go Math Grade 7 Module 13 Ready to Go On? Answer Key

13.1 Calculating Sales and income Tax

Question 1.
Marcel bought a new hat for $21.99 and 2 pairs of socks for $3.99 each. What is the total price, including a 7.5% sales tax? _____________
Answer:
First, sum the price for a hat and 2 pairs of socks to find the Subtotal of the purchase.
Subtotal = Price of a hat + Price of 2 pairs of socks
Subtotal = $21.99 + 2 × $3.99
Subtotal = $21.99 + $7.98
Subtotal = $29.97
The Subtotal of the purchase is $29.97.

Now, we have to find the sales tax.
Write the tax rate as decimal, ie 7.5% = 0.075
Tax = Subtotal × Tax
Tax = $29.97 × 0.075 = $2.25
Now, add the Subtotal and the Tax to find the Total price.
Total price = $29.97 + $2.25 = $32.22
The Total price of the purchase is $32.22

For 2-3, use the tax table shown. Jennifer computed her taxable income as $24,382 and paid $3,115 in federal 24,250 withholding.

Paying Your Taxes Math Quiz 7th Grade Question 2.
How much federal income tax is Jennifer required to pay?
Answer:
From the table, the tax for a taxable income of $24,382 is $3,231 which she is required to pay.

Question 3.
Determine whether Jennifer still owes money or will get a refund, and what amount that is. _______________________________________
Answer:
From the table, the tax for a taxable income of $24, 382 is $3,231.
She paid $3,115 in the federal withholding, which is less than the tax from the tax table.
Hence, she will have to pay the difference between the tax from the table and the amount she paid in the federal withholding. which is $3,231 – $3,115 = $116

She will have to pay $116

13.2 Calculating and Comparing Simple and Compound Interest

Question 4.
Two savings accounts each start with a $200 principal and have an interest rate of 5%. One account earns simple interest and the other is compounded annually. Which account will earn more interest over 10 years? How much more?
Answer:
Let A be the account that earns simple interest, and B be the account that earns interest compounded annually.
The principal for both accounts is $200.

Account A
Write interest rate as decimal, ie 5% = 0.05
Find the amount of interest earned in otie year.
Principal × Interest rate = Interest in one year
$200 × 0.05 = $10
Now, find the amount of interest earned in ten years.
Interest for 1 year × Number of years = Interest for 10 years
$10 × 10 = $100
Account A will earn $100 after 10 years.

Account B
Use the formula for compound interest compounded annually.
A = P(1 + r)^t
where P is the principal, r is interest rate(in decimal), t is the time in years and A is the amount in the account after t years if n withdrawals are made.
Find the final amount in the account after 10 years.
Substitute 10 for t, 200 for P and 0.05 for r in the formula.
A = 200(1 + 0.05)¹⁰
A = 200(1.05)¹⁰
A = 200.1.63
A = 326
The final amount in account B is $326.
To find the amount of interest earned subtract principal from the final amount.
$326 – $200 = $126
Account B will earn $126 after 10 years.

Compare the amounts using subtraction:
$126 – $100 = $26
Account B will earn $26 more in compound interest after 10 years than account A earns in simple interest.

Account B will earn $26 more in compound interest after 10 years than account A earns in simple interest.

13.3 Making Purchasing Decisions

Module 13 Math Quiz For Grade 7 Pdf Question 5.
Brenda wants to buy a sweater that is regularly priced at $27. She can apply one of two coupons, $5 off or 25% off. Which should she use? ____
Answer:
$5 off coupon
$5 off coupon is a Discount.
Find the Discount price.
Discount price = Regular price – Discount
Discount price = $27 – $5
Discount price = $22
The Discount price of a sweater with a $5 off coupon is $22.

25 % off coupon
Discount price = Regular price – Discount
To find the Discount multiply the Regular price by the percent of discount
Write percent as decimal, ie 25% = 0.25.
Discount = $27 × 0.25 = $6.75
Discount price = $27 – $6.75
Discount price = $20.25
She should use 25% off coupon, because $20.25 < $22.

Essential Question

Question 6.
How can you use your knowledge of taxes and simple and compound interest to help you make informed decisions in the real-world?
Answer:
Basically, being knowledgeable in taxes and compound interest lets you come up with a better decision when options are given. When you are knowledgeable in taxes, you would know the exact amount you are paying for a
certain item when you purchase. Though sometimes, it is hard to compute the taxes manually, you can make
estimations. As for compound interest it is very useful to make decisions as to where to invest when you have multiple options.

Being knowledgeable in taxes and compound interest lets you come up with a better decision when options are
given.

Texas Go Math Grade 7 Module 13 Mixed Review Texas Test Prep Answer Key 

Selected Response

Question 1.
Tela bought a backpack for $34.99 and 3 notebooks for $ 1.89 each. What is the total price, including a 8% sales tax?
(A) $38.77
(B) $40.66
(C) $41.87
(D) $43.91
Answer:
(D) $43.91
First, sum the price for a backpack and 3 notebooks to find the Subtotal of the purchase.
Subtotal = Price of a backpack + Price of 3 notebooks
Subtotal = $34.99 + 3 × $1.89
Subtotal = $34.99 + $5.67
Subtotal = $40.66
The Subtotal of the purchase is $40.66.

Now, we have to find the sales tax.
Write the tax rate as decimal, ie 8% = 0.08
Tax = Subtotal × Tax
Tax = $40.66 × 0.08 = $3.25
Now, add the Subtotal and the Tax to find the Total price.
Total price = $10.66 + $3.25 = $43.91
The Total price of the purchase is $43.91

Taylor’s gross monthly pay is $2,500. Use this information for 2-4.

Module 13 Quiz Ready To Go On Answer Key Question 2.
Taylor pays 15.6% of his monthly income for federal withholding. How much federal withholding does he pay?
(A) $32.50
(B) $375
(C) $390
(D) $2,110
Answer:
(C) $390

Multiply monthly gross by Federal withholding rate.
Write the percent as decimal, 15.6% = 0.156.
Federal withholding = $2,500 × 0.156 = $390

Question 3.
How much does Taylor pay for Medicare, which is 1.45% of his monthly salary?
(A) $30.56
(B) $36.25
(C) $2,140.56
(D) $2,536.25
Answer:
(B) $36.25

Write the percent as decimal, 1.45% = 0.0145.
Multiply monthly gross by Medicare rate.
Medicare = $2,500 × 0.0145 = $36.25

Question 4.
How much does Taylor pay for Social Security, which is 6.2% of his monthly salary?
(A) $130.82
(B) $155
(C) $2,240.82
(D) $2,655
Answer:
(B) $155
Write the percent as decimal, 6.2% = 0.062.
Multiply monthly gross by Social Security rate
Social Security = $2,500 × 0.062 = $155

Question 5.
Kit can purchase a 6-pound item from several different retailers. Which is the best buy?
(A) Buy online for $24 plus pay shipping and handling costs of $0.79 per pound
(B) Buy online for $25 plus pay shipping and handling costs of $0.49 per pound
(C) Pay at a local store with a regular price of $32.95 and a $5-off coupon.
(D) Pay at a local store with a regular price of $40 on sale for 25% off.
Answer:
(B) Buy online for $25 plus pay shipping and handling costs of $0.49 per pound

Online purchase A
The item lias 6 pounds and shipping and handling per pound is $0.79. Shipping and handling for item is
$0.79 × 6 = $4.74
To find the whole price of item sum the online price and the cost of shipping and handling.
$24 + $4.74 = $28.74
Online purchase A costs $28.74.

Online purchase B
The item lias 6 pounds and shipping and handling per pound is $0.19.
Shipping and handling for item is
$0.49 × 6 = $2.94
To find the whole price of item sum the online price and the cost of shipping and handling.
$25 + $2.94 = $27.94
Online purchase A costs $27.94.

Locally purchase C
$5 off coupon is a Discount.
Find the Discount price.
Discount price = Regular price – Discount.
Discount price = $32.95 – $5
Discount price = $27.95
The Discount price for locally purchase C is $27.95.

Locally purchase D
25% off coupon is a Discount.
Find the Discount price.
To find the Discount multiply the Regular price by the percent of discount.
Write percent as decimal, ie 25% = 0.25.
Discount = $40 × 0.25 = $10
Discount price Regular price – Discount
Discount price = $10 — $10
Discount price = $30
The Discount price for locally purchase D is $27.95.

Hence, the best buy is online purchase B, because $27.94 is the lowest price of all prices.
The best buy is online purchase B

Math Quiz For Grade 7 With Answers Pdf Module 13 Question 6.
Each year on the same day, Lia deposits $225 in an account that earns simple interest at a rate of 4%. How much interest does her account earn after 10 years?
(A) $9
(B) $90
(C) $234
(D) $495
Answer:
(B) $90

New balance = Beginning balance for new phase + Amount deposited
Amount of interest earned = New balance × Interest rate
Write the interest rate as decimal, ie 4% = 0.04.
Every year we calcuLate simple interest on a new balance to find the amount of a interest earned.

Year 1
Amount of interest earned = $225 × 0.04 = $9
Year 2
Amount of interest earned = $450 × 0.04 = $18
Year 3
Amount of interest earned = $675 × 0.04 = $27
Year 4
Amount of interest earned = $900 × 0.04 = $36
Year 5
Amount of interest earned = $1,125 × 0.04 = $45
Step 4
Year 6
Amount of interest earned = $1,350 × 0.04 = $54
Year 7
Amount of interest earned = $1,575 × 0.04 = $63
Year 8
Amount of interest earned = $1,800 × 0.04 = $72
Year 9
Amount of interest earned = $2.025 × 0.04 = $81
Year 10
Amount of interest earned = $2,250 × 0.04 = $90
Lia earns a total of $495 in interest after the tenth year.

Question 7.
Omar deposits $300 in an account earning 3% interest compounded annually. How much interest will the account earn after 5 years if he makes no withdrawals?
(A) $45
(B) $47.78
(C) $345
(D) $347.78
Answer:
Use the formula for Compound interest compounded annually.
A = P(1 + r)^t
where P is the principal, r is interest rate(hi decimal), t is the time in years and A is the amount in the account alter t years if no withdrawals are made.
Find the final amount in the account after 5 years.
Substitute 5 for t, 300 for P and 0.03 for r in the formula.
A = 300(1 + 0.03)⁵
A = 300(1.03)⁵
A = 300 . 1.159
A = 347.78
The final amount in account, B is $347.78.
To find the amount of interest earned subtract the principal from the final amount.
$347.78 – $300 = $47.78
Account will earn $47.78 in interest after 5 years.

Gridded Response

Grade 7 Module 13 Answer Key Quiz Question 8.
Carey computed her taxable income as $27,342 and paid $4,127 in federal withholding. Use the tax table to find the amount in dollars Ca’rey will get as a refund.

Answer:
From the table, the tax for a taxable income of $27.342 is $3,674.
Carey paid $4,127 in the federal withholding. which is more than the tax from the tax table.
Hence, the difference between the amount she paid in the federal withholding and the tax from the table is a refund, which is
$4, 127 – $3,674 = $453

A refund is $453.