This is everyday math. with the questions below in the pictures below pleasee.

Name: Date: Summative Assignment 2 Financial Literacy Knowledge /15 Application /7 Show all your work for full marks 1. Irene has a savings account and a chequing account at a bank. She also carries a credit card issued by the bank. [4 marks] a) What interest rate does her chequing account likely pay? (Circle one answer.) 0% 0.5% 7% 18.9% 28.8% b) What interest rate does her savings account likely pay? (Circle one answer.) 0% 0.5% 7% 18.9% 28.8% c) What interest rate does her bank credit card likely charge for overdue accounts? (Circle one answer.) 0% 0.5% 7% 18.9% 28.8% d) What interest rate does her department store credit card likely charge for overdue accounts? (Circle one answer.) 0% 0.5% 7% 18.9% 28.8% 2. While in Montreal visiting friends, Irene got a speeding ticket. The next week, she wrote a cheque payable to the \""City of Montral\" in the amount of $93.50. Complete the cheque below using June 4 of this year as the date. Place your signature in place of Irene's. [4 marks] 083 Date: DDMMYYYY Pay to the Order of 5 /100 Dollars = i & o R R R e R R R R R R e R EI R RE R R R EIRE) Name: Date: 3. To manage her accounts and to check her balances, Irene uses the Internet. She does not keep paper records. a) Below are Irene's transactions for the first part of June. Calculate the missing amounts in the balance column. [4 marks] Payment or Deposit or Cheque withdrawal interest number Date Description (-) V ( + ) Balance 714.80 82 June 1 Rent 640 Cash 60 June 2 Pay 427.18 83 June 4 Ticket (Montreal) 93.50 June 5 Gas 55 June 7 Groceries 88.20 Credit card 150 June 9 Pay 377.60 84 Dr. T 30 June 10 Car Insurance 104.50 85 June 13 Dr. T 30 Groceries 79.93 June 14 Shoes 56.99 June 15 Cash 60 b) What is the date of Irene's next pay cheque? [1 mark] c) On June 15, when Irene withdrew the $60 from her account, the ATM receipt indicated a balance of $194.96. Calculate the difference between the amount on the ATM receipt and your calculation for her current balance. [1 mark] d) Give an explanation for this difference. [1 mark]Name: Date: 4. Below is part of Irene's latest credit card statement. STATEMENT FROM April 15 to May 14 5/2 Cliff''s Car Repairs 148.00 5/10 payment, thank you -150.00 5/14 interest 6.82 Previous Balance 432.90 New Balance Payments -150.00 Minimum Due 24.00 Overdue Balance 282.90 Due Date June 12 Interest Charged 6.82 Annual interest rate 18.9% New Purchases 148.00 Available Credit 1546.38 a) State the three items that are added together to create the New Balance. [3 marks] oy and b) Calculate Irene's New Balance. Place your answer on the credit card statement. [1 mark] 5. a) Given what you know about Irene's finances, describe her purchasing power, that is, her ability to buy what she wants when she wants. [1 mark] b) Advise Irene as to how she can improve her current financial position. [2 marks]