Quiz about 4.2: Buying a Home

Question 1

What word means the part of the price paid at the time of purchase?

Accepted Answer

Down Payment

Answer

Financed

Answer

Interest

Answer

Mortgage

Answer

Principal

Question 2

What word means the same thing as borrowed?

Accepted Answer

Financed

Answer

Down Payment

Answer

Interest

Answer

Mortgage

Answer

Principal

Question 3

What word is a payment charged to the borrower for the use of money?

Accepted Answer

Interest

Answer

Down Payment

Answer

Financed

Answer

Mortgage

Answer

Principal

Question 4

What word is another word for a property loan?

Accepted Answer

Mortgage

Answer

Down Payment

Answer

Financed

Answer

Interest

Answer

Principal

Question 5

What word means the amount of money loaned to a creditor?

Accepted Answer

Principal

Answer

Down Payment

Answer

Financed

Answer

Interest

Answer

Mortgage

Question 6

Annual Salary: $92,250

Maximum Mortgage Amount: _____

Accepted Answer

$230,625

Answer

$230,525

Answer

$230,725

Answer

$230,825

Answer

$230,925

Question 7

Weekly Salary: $399

Maximum Mortgage Amount: _____

Accepted Answer

$51,870

Answer

$51,570

Answer

$51,670

Answer

$51,770

Answer

$51,970

Question 8

Monthly Salary: $5,275

Maximum Mortgage Amount: _____

Accepted Answer

$158,250

Answer

$158,150

Answer

$158,350

Answer

$158,450

Answer

$158,550

Question 9

Semimonthly Salary: $3,690

Maximum Mortgage Amount: _____

Accepted Answer

$221,400

Answer

$221,100

Answer

$221,200

Answer

$221,300

Answer

$221,500

Question 10

Biweekly Salary: $2,100

Maximum Mortgage Amount: _____

Accepted Answer

$136,500

Answer

$136,100

Answer

$136,200

Answer

$136,300

Answer

$136,400

Question 11

Hourly Wage: $13.45

Maximum Mortgage Amount: _____

Accepted Answer

$69,940

Answer

$69,910

Answer

$69,920

Answer

$69,930

Answer

$69,950

Question 12

Hourly Wage: $14.59

Maximum Mortgage Amount: _____

Accepted Answer

$75,868

Answer

$75,878

Answer

$75,888

Answer

$75,898

Answer

$75,998

Question 13

Hourly Wage: $15.73

Maximum Mortgage Amount: _____

Accepted Answer

$81,796

Answer

$81,756

Answer

$81,766

Answer

$81,776

Answer

$81,786

Question 14

Hourly Wage: $16.87

Maximum Mortgage Amount: _____

Accepted Answer

$87,724

Answer

$87,714

Answer

$87,734

Answer

$87,744

Answer

$87,754

Question 15

Hourly Wage: $17.01

Maximum Mortgage Amount: _____

Accepted Answer

$88,452

Answer

$88,152

Answer

$88,252

Answer

$88,352

Answer

$88,552

Question 16

Mortgage Amount: $100,000

Minimum Yearly Income Needed: _____

Accepted Answer

$40,000

Answer

$10,000

Answer

$20,000

Answer

$30,000

Answer

$50,000

Question 17

Mortgage Amount: $1,000,000

Minimum Yearly Income Needed: _____

Accepted Answer

$400,000

Answer

$100,000

Answer

$200,000

Answer

$300,000

Answer

$500,000

Question 18

Mortgage Amount: $359,900

Minimum Yearly Income Needed: _____

Accepted Answer

$143,960

Answer

$143,950

Answer

$143,970

Answer

$143,980

Answer

$143,990

Question 19

Mortgage Amount: $225,000

Minimum Yearly Income Needed: _____

Accepted Answer

$90,000

Answer

$50,000

Answer

$60,000

Answer

$70,000

Answer

$80,000

Question 20

Mortgage Amount: $199,950

Minimum Yearly Income Needed: _____

Accepted Answer

$79,980

Answer

$79,950

Answer

$79,960

Answer

$79,970

Answer

$79,990

Create a free account and access millions of resources

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Mathematics