Consumer Math 10.02 Unit 10 Quiz 2

Jason has saved $25,000 toward a down payment on a house. She makes $5,000 a month. What is the maximum loan she can take on a house?

$120,000

Fatima has saved $15,000 toward a down payment on a house. She makes $5,375 a month. What is the maximum loan she can take on a house?

$129,000

Fatima has saved $15,000 toward a down payment on a house. She makes $5,375 a month. What is the maximum she can spend on a house?

$144,000

Find the closing cost, to the nearest cent: house value of $89,548, two points, attorney's fees $324, title fees $105.

$2,219.96

Bob and Alice have a mortgage for $73,280. If the mortgage is set at 7 percent for 30 years, how much is their monthly payment if their rate is 6.75 per $1,000?

$494.64

You and your spouse have narrowed your new home search. The first house is being sold for $154,300 and appreciates 4 percent annually, and the second house is $178,200 and appreciates 6 percent annually. What is the difference in the value of the two houses 5 years in the future?

$50,742.26

Martha is buying a house for $107,820. She is making a 15 percent down payment and financing the remainder at 6.5 percent for 25 years. What are Martha's monthly payments?

$618.62

Martha is buying a house for $107,820. She is making a 15 percent down payment and financing the remainder at 6.5 percent for 25 years. How much is she financing?

$91,647

In which of these years after it was purchased is the value of House A greater than the value of House B? Check all that apply.

7 8

Which house is worth more in one year?

House A