Texas Go Math Grade 3 Lesson 20.6 Answer Key Financial Decisions

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Texas Go Math Grade 3 Lesson 20.6 Answer Key Financial Decisions

Unlock the Problem

Make decisions about spending and saving. Follow the directions. See how much money you have at the end and how you can get what you need or want.

Decision Mission
Texas Go Math Grade 3 Lesson 20.6 Answer Key 1
Decision 1: Which item is your goal? ___________
You earn $100 each week. You need $60 to pay living expenses.
How much do you have left? ___________
Explanation:
Decision 1: Which item is your goal? House
You earn $100 each week. You need $60 to pay living expenses.
How much do you have left? 40$

Decision 2: How much do you want to save each week? ___________
How much do you have left in your pocket? ___________
Work for 10 weeks: How much do you save? ___________
How much do you have in your pocket? ___________
Your car breaks down. You need $90 to fix it.
Explanation:
Decision 2: How much do you want to save each week? 50
How much do you have left in your pocket? 40
Work for 10 weeks: How much do you save?500
How much do you have in your pocket? 540
Your car breaks down. You need $90 to fix it.
540 -90 = 450$

Decision 3: How will you pay-from your pocket or from your savings? ___________
How much is left? ___________
You decide to give some of your pocket money to the food bank. How much do you give? ___________
How much do you have left? ___________
Explanation
Decision 3: How will you pay-from your pocket or from your savings? pocket
How much is left? 450
You decide to give some of your pocket money to the food bank. How much do you give?20
How much do you have left? 430

Decision 4: How much will you borrow and have to pay back? You don’t want to wait to save for your goal. You want it now, so you use what you have saved and borrow the rest on credit.
$500 – 430 = 70$
You need to pay back $10 each week plus $1 interest each week. How much will you pay back in all? Explain.
Explanation:
He has to pay 70 so, 10 x 7weeks = 70 +7 = 77
he has to pay 77 in all.

Remember
Borrowing on credit means that you get money right away but must agree to pay back a given amount in regular payments until it is paid back, usually with interest.
Answer: So, The taken amount will be less and the amount will pay is high.

Math Talk
Mathematical Processes

Explain how you might change your decisions in this mission to include regular donations to a charity that you like.
Answer: We can increase the money
Explanation:
If we increase the money to charity the amount of return will become high usually

Share and Show

Look at each decision. Circle the word or words that apply.

Question 1.
Buying some new socks
income
spending
saving
credit
giving
Answer: Spending
Explanation:
Buying some new socks is Spending

Question 2.
Putting $25 aside each week for college expenses
income
spending
saving
credit
giving
Answer: Saving
Explanation:
Putting $25 aside each week for college expenses is Saving

Question 3.
Donating to the Park Rebuilding Fund
income
spending
saving
credit
giving
Answer: Giving
Explanation:
Donating to the Park Rebuilding Fund is a giving

Question 4.
Borrowing $1,000 to pay for new garage door
income
spending
saving
credit
giving
Answer: Credit
Explanation:
Borrowing $1,000 to pay for new garage door is nothing but a credit

Question 5.
Starting a new job
income
spending
saving
credit
giving
Answer: Income
Explanation:
Starting a new job gets the regular income

Question 6.
Buying gas to get to work
income
spending
saving
credit
giving
Answer: Income
Explanation:
Buying gas to get to work if we work we get income

Question 7.
Write Math Explain why you might need to use credit. Give an example.
Answer: To reach unexpected spending’s
Explanation:
If we don’t take credit some times we may not reach our goals

Problem Solving

Question 8.
Reasoning Jenna has $38. She buys a toy on sale for her cousin for $4. She puts $5 in a savings account. She makes a bill payment of $15. She gets $3 for running an errand for her mother. How much does she have available for giving to charity?
Answer: 17$
Explanation:
Jenna has $38. She buys a toy on sale for her cousin for $4.
She puts $5 in a savings account.
She makes a bill payment of $15.
She gets $3 for running an errand for her mother.
38 + 3 = 41
4 + 5 + 15 = 24
41 – 24 = 17$ she have available for giving to charity

Question 9.
H.O.T. Multi-Step Alyssa earns money as a babysitter. She earns $15 per night. She plans to babysit 4 times during the next month. She will spend $10 on treats for the children She also plans to spend $20 on new clothes for school. How much will Alyssa be able to save? Justify.
Answer: 30
Explanation:
Alyssa earns money as a babysitter.
She earns $15 per night.
She plans to babysit 4 times during the next month. 15 x 4 = 60
She will spend $10 on treats for the children
She also plans to spend $20 on new clothes for school. 60 – 30 = 30
30 will Alyssa be able to save
Yes Alyssa spending is worth because she fulfilled her needs

Question 10.
H.O.T. Evaluate Darren sees some boots that cost $100. He needs the boots in 6 weeks, and he has no money saved. He earns $50 a week. If he uses credit to buy the boots now, the total cost is $118. Explain what you would decide to do and why.
Texas Go Math Grade 3 Lesson 20.6 Answer Key 2
Answer: He would not buy
Explanation:
If he buy after 6 weeks he can get from savings
and the price is also high

Question 11.
H.O.T. Multi-Step Make a chart like the one at the right. Record your spending decisions. Make the amount you earn and the amount you spend equal. You can add as many rows as you need.
You discover you need to pay $80 for a new tire. Adjust your chart.
Texas Go Math Grade 3 Lesson 20.6 Answer Key 3
Answer:

Explanation:
Adjusted my chart for paying a new tire that is 80
And completed the chart for weekly total

Daily Assessment Task

Fill in the bubble for the correct answer choice.

Question 12.
Jaxon earns $30 each month. He decides to give $5 to an animal charity. He also decides to buy 3 books at a sale for $5 each. Which of the following statements is NOT true?
(A) His income is $30 a month.
(B) He uses $15 of credit.
(C) He spends $20.
(D) He saves $10.
Answer: B
Explanation:
According to the statement Except B remaining are  true

Question 13.
Kendra is looking for a summer job. She plans to spend $40 each month. She wants to save $40 each week for college. If she counts 4 weeks in a month, how much should she earn in one month to reach her goals?
(A) $160
(B) $120
(C) $200
(D) $80
Answer:  C
Explanation:
4 Weeks x 40 = 160$
160 + 40$ = 200$

Question 14.
Multi-Step Dexter earns $30 fixing and cleaning one bike. He plans to fix and clean 4 bikes during the next month. He will spend $20 on cleaning materials for the 4 bikes. He also plans to spend $30 on replacement parts for the 4 bikes. How much will Dexter be able to save?
(A) $50
(B) $15
(C) $30
(D) $70
Answer: D
Explanation:
Dexter be able to save 70
Dexter earns $30 fixing and cleaning one bike. He plans to fix and clean 4 bikes during the next month.
30 x 4 =120$
120 – 50 = 70$

Texas Test Prep

Question 15.
Malia has a new job. Her income is $1,500 a month. She has $800 of expenses each month. Which of the following is NOT a reasonable decision about money?
(A) spending $1,200 now for a flat screen TV
(B) saving $250 a month for emergencies
(C) donating $50 a month to charity
(D) buying a new business suit on sale for $70
Answer: A
Explanation:
Except A remaining are true

Texas Go Math Grade 3 Lesson 20.6 Homework and Practice Answer Key

Look at each decision. Circle the word or words that apply.

Question 1.
Setting $50 aside each month to buy a new washing machine
income
spending
saving
credit
giving
Answer: Saving
Explanation:
Setting $50 aside each month to buy a new washing machine is a saving

Question 2.
Collecting and donating money to a local animal shelter
income
spending
saving
credit
giving
Answer: Giving
Explanation:
Collecting and donating money to a local animal shelter is giving

Question 3.
Taking out a loan out to buy a new car
income
spending
saving
credit
giving
Answer: Credit
Explanation:
Taking out a loan out to buy a new car is a credit

Problem Solving

Question 4.
Martine has $43 in her savings account. She earns $12 doing chores and $9 walking her neighbor’s dog each week. She wants to buy a new sweater for $18. She also wants to go to a bus trip that costs $52. Does Martine have enough money to buy the sweater and go on the bus trip this week? Explain.
Answer: No, She cannot afford both
Explanation:
Martine has $43 in her savings account.
She earns $12 doing chores and $9 walking her neighbor’s dog each week.
She wants to buy a new sweater for $18.
She also wants to go to a bus trip that costs $52.
No,  Martine Doesn’t have enough money to buy the sweater and go on the bus trip this week
43 + 12 + 9 = 64
18 + 52 = 70
70 > 52
His expenditure is more than savings

Question 5.
Enrico earns $5 each day for taking care of his neighbor’s cat while they are on vacation. The neighbors are away for 14 days. Enrico will spend $6 for paint brushes and $12 for a set of watercolor paints. How much money will Enrico be able to save? Explain.
Answer: 52
Explanation:
Enrico earns $5 each day for taking care of his neighbor’s cat while they are on vacation.
The neighbors are away for 14 days.
Enrico will spend $6 for paint brushes and $12 for a set of watercolor paints.
Enrico be able to save is 52$
5 x 14 = 70
70 – 18 = 52$

Lesson Check

Fill in the bubble completely to show your answer.

Question 6.
Lourdes earns $23 washing her neighbor’s cars. Then she spends $12 to buy a new leash for her dog. Which words describes Lourdes decisions?
(A) income and spending
(B) credit and spending
(C) income and saving
(D) giving and credit
Answer: A
Explanation:
His income is 23$ and his spend is $12

Question 7.
Multi-Step Xavier has a summer job. He will earn $50 each week for 8 weeks. At the end of summer, Xavier will use credit to buy a used car for $500. How much will he need borrow on credit?
(A) $400
(B) $900
(C) $100
(D) $550
Answer: C
Explanation:
Xavier has a summer job. He will earn $50 each week for 8 weeks.
50 x 8 = 400$
At the end of summer,
Xavier will use credit to buy a used car for $500.
500 – 400 = 100$
100$  he need borrow on credit

Question 8.
Josette earns $60 a month. She decides to save $30 each month for an art course. If the art course costs $120, how many months will Josette need to save?
(A) 2 months
(B) 5 months
(C) 6 months
(D) 4 months
Answer: D
Explanation:
Josette earns $60 a month.
She decides to save $30 each month for an art course.
If the art course costs $120, 4 months will Josette need to save
60 – 30 = 30
30 x 4months = 120$

Question 9.
Multi-Step Carly earns $50 a month cleaning houses and saves all of it. She decides to buy a jacket for $63 and a backback for $28. If Carly decides to use her savings to buy the items, how much will she have saved after 3 months?
(A) $150
(B) $59
(C) $87
(D) $88
Answer: B
Explanation:
Carly earns $50 a month cleaning houses and saves all of it.
She decides to buy a jacket for $63 and a backback for $28.
If Carly decides to use her savings to buy the items,
3 months x 50 = 150
63 + 28 = 91
150 – 91 = 59$

Question 10.
Jacie goes grocery shopping for his grandfather each week. He earns $20 for each shopping trip. He decides to save for 9 weeks to buy new skis for $175. Which describes Jacie’s decision?
(A) buying on credit
(B) saving to meet a goal
(C) saving for an unexpected expense
(D) not saving enough to buy the skis
Answer: B
Explanation:
He is saving money for 9 months and then buying a cycle for his need
so, Saving to meet a goal

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