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Unit 7 Vocabulary

Authored by Eric Simondsen

Mathematics

9th - 12th Grade

Used 1+ times

Unit 7 Vocabulary
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51 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A mortgage in which the monthly payment and the APR may change as specified in the signed agreement.

adjustable-rate mortgage
adjustment period
unfurnished
tenant
fixed rate mortgage

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The period between rate changes in an ARM.

adjustment period
amortization table
transfer tax
single-family home

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A loan statement that lists the unpaid principal, the monthly payment, and the amounts allocated to principal and interest.

amortization table
apartment
title search
security deposit

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A home that is rented or leased by the people who live in it.

apartment
application deposit
title
recurring costs

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Money that covers the cost of processing the application for a rental.

application deposit
arrears
tenant
real estate tax
security deposit

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The manner that interest occurs throughout the month before it is paid with the mortgage payment.

arrears
assessed value
single-family home
property tax

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

An assigned value made by the local government on the value of a house for taxation purposes.

assessed value
back-end ratio
security deposit
prepaid interest

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