Amortization Practice
Authored by Kimberly Black
Mathematics
12th Grade
CCSS covered
Used 16+ times
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18 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A house costs $350,000. Carlos wants to get a mortgage that has a 3.5% interest rate, and the term is 30 years. What is his monthly payment?
$1,517.66
$10,208.66
$12,201.52
$1,020.83
Tags
CCSS.HSA.CED.A.1
CCSS.HSA.REI.A.2
CCSS.HSF.LE.A.2
CCSS.HSA.SSE.A.1
CCSS.HSF.LE.A.1
CCSS.HSN.Q.A.1
CCSS.HSA.SSE.B.4
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Alexander wants to buy a $485,000 house that has a 4% interest rate, and the term is 30 years. What is his monthly payment?
$229.16
$2,315.46
$16,166.79
$17,015.38
Tags
CCSS.HSA.CED.A.1
CCSS.HSA.REI.B.3
CCSS.HSA.REI.A.2
CCSS.HSF.LE.A.2
CCSS.HSF.LE.A.1
CCSS.HSN.Q.A.1
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Branden wants to buy a $190,000 house that has a 8.5% interest rate, and the term is 20 years. What is his monthly payment?
$1,460.94
$13,458.33
$1,345.83
$1,648.86
Tags
CCSS.HSA.CED.A.1
CCSS.HSA.REI.B.3
CCSS.HSA.REI.A.1
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Najashi wants to buy a $650,000 house that has a 2.25% interest rate, and the term is 25 years. What is his monthly payment?
$283.48
$2,834.85
$12,233.98
$2,484.60
Tags
CCSS.HSA.CED.A.1
CCSS.HSA.REI.B.3
CCSS.HSA.REI.A.1
CCSS.HSF.BF.A.1
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Isabela wants to buy a $399,000 house that has a 4.95% interest rate, and the term is 15 years. What is her monthly payment
$16,470.15
$3,073.95
$3,144.88
$2,129.74
Tags
CCSS.HSA.CED.A.1
CCSS.HSA.REI.B.3
CCSS.HSA.REI.A.2
CCSS.HSF.LE.A.2
CCSS.HSA.SSE.A.1
CCSS.HSF.BF.A.1
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The purchase amount is immediately removed from a linked account.
Debit Card
Credit Card
Stored-Value Card
Tags
CCSS.6.NS.C.5
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Payments can be made in the future.
Debit Card
Credit Card
Stored Value Card
Tags
CCSS.5.NF.B.3
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