Unit 9 Review

It's recommended your rent should be ____% or less

• 30

• 50

• 20

• 70

The $ you pay up front BEFORE getting a loan is known as the...

• Down Payment

• Security Deposit

• Interest Rate

• Principle

For both car down payments and home down payments it's recommended you put down at least _______ of the total cost.

• 10%

• 20%

• 50%

• 30%

If you do not damage your apartment you usually can get your _________ refunded when you move out

• security deposit

• interest payments

• rent payments

• application fee

When buying a car you could essentially rent it for 2-3 years. This is called getting a car ______

• loan

• lease

• appraisal

• repo

The higher your APR on your loan, the _______ you'll pay on interest

• less

• more

In general, the LONGER your loan is for, the _______ you'll pay in interest

• less

• more

Which car loan will cost you the LEAST in total?

• $500/month for 36 months

• $400/month for 48 months

• $250/month for 84 months

• $185/month for 120 months

If you can, you should pay your loan off faster than the term length (example: Paying off a 36 month loan in 30 months)

• True

• False

Generally, it is a NOT a good idea to buy a house unless you plan to live in it for at least _______

• 5 years

• 3 years

• 10 years

• 2 years