Business Management- Math

Liz and Rob purchased a house for $565,000. They put 20% down on the house. What was their down payment?

• $113,000

• $452,000

• $11,300

• $553,700

Tags

CCSS.6.RP.A.3C

Marcus and Kenya purchased a house for $325,000. They put 15% down on the house. What is their mortgage amount?

• $48,750

• $276,250

• $32,500

• $292,500

Tags

CCSS.6.RP.A.3C

Jen Sue got a $275,000 mortgage for 25 years at 6.0%. How much will the monthly mortgage payment be?

• $1,688.50

• $1,856.25

• $1,650

• $1,771

The loan a person gets to purchase a house or a condominium is called a __________.

• principal loan

• interest term loan

• P&I loan

• mortgage

What term is used to describe money paid to the owner of a home?

• Euros

• Rent

• Mortgage

• Interest Payments

When renting a home, what term refers to the owner of the home?

• Boss

• Coach

• Tenant

• Landlord

fee charged by a lender for the use of borrowed money; expressed as a percentage of the amount borrowed

• Closing

• Interest

• Inflation

• Credit History

person who is licensed to negotiate and arrange real estate sales

• Contingency

• Mortgagese

• Lender

• Real Estate Agent

If a lender requires an 18% down payment on a house costing $146,190, how much cash will be needed for the down payment?

• $26,314
• $30,788
• $25,150
• $27,710

Tags

CCSS.6.RP.A.3C

Find the monthly payment on a $400,000 loan financed at 4% interest for 30 years.

• $1909.66
• $1967.76
• $1432.25
• $2387.08