Renting/Buying A Home

Marty earns $2920 monthly.  According to the Renter's Rule, how much can he afford to pay for monthly rent?

• $674
• $787
• $342
• $549

Tags

CCSS.6.RP.A.3B

Maria earns $93,750 annually.  According to the Banker's Rule, how much can she afford to borrow to purchase a home?

• $234,375
• $340,168
• $145,912
• $216,848

Tags

CCSS.6.RP.A.3B

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

After paying a 15% down payment on a home costing $302,450, how will the buyer have to borrow to purchase the home?

• $257,083
• $169,753
• $287,016
• $185,985

Tags

CCSS.6.RP.A.3C

Most mortgages are for how many years?

• 10

• 15

• 30

• either 15 or 30

Tags

CCSS.6.RP.A.3B

Which factors will affect the size of your monthly mortgage payment?

• the interest rate

• how much is borrowed (principal)

• the size of your down payment

• all of these

A person who occupies rented property:

• landlord

• tenant

• mortgage

• none of these

Tags

CCSS.L.11-12.6

CCSS.L.9-10.6

CCSS.W.11-12.2D

CCSS.W.8.2D

CCSS.W.9-10.2D

A written agreement between a a tenant and a landlord:

• mortgage

• lease

• cooperative

• assessment

Tags

CCSS.L.11-12.6

CCSS.L.9-10.6

CCSS.W.11-12.2D

CCSS.W.8.2D

CCSS.W.9-10.2D

John wants to purchase a $269,000 house. His bank is requiring a 15% down payment. How much will John's down payment be?

• $15,000

• $40,350

• $228, 650

Tags

CCSS.6.RP.A.3C

Shane needs a 10% down payment to buy a $304,990 house. How much money will he need?

• $30,499

• $34,990

• $100,00

Tags

CCSS.6.RP.A.3C