Mortgages Quiz

Calculate Abe's maximum mortgage given an annual gross income of $120,000.

• $240,000
• $600,000
• $480,000
• $360,000

Calculate Bonita's maximum mortgage given an annual gross income of $97,000.

• $485,000
• $300,000
• $291,000

• $250,000

Calculate Cedrick's maximum mortgage given an annual gross income of $130,000.

• $390,000
• $450,000
• $320,000
• $260,000

Calculate Dalia's maximum mortgage given an annual gross income of $80,000.

• $180,000
• $200,000
• $220,000
• $240,000

Remember that net income is about 70% of your gross income and that your monthly housing budget is 30% of your net monthly income.

Calculate Archie's 30% monthly housing budget, given an annual gross income of $120,000.

• $2,500
• $2,100
• $1,500
• $3,000

Remember that net income is about 70% of your gross income and that your monthly housing budget is 30% of your net monthly income.

Calculate Jane's 30% monthly housing budget, given an annual gross income of $140,000.

• $3,500
• $2,000
• $2,800
• $2,450

Remember that net income is about 70% of your gross income and that your monthly housing budget is 30% of your net monthly income.

Calculate Jack's 30% monthly housing budget, given an annual gross income of $90,000.

• $1,200
• $2,500
• $1,800
• $1,575

Remember that net income is about 70% of your gross income and that your monthly housing budget is 30% of your net monthly income.

Calculate Sylvia's 30% monthly housing budget, given an annual gross income of $73,000.

• $1,000
• $1,277.50

• $1,500
• $1,800

Estimate the total amount of interest paid at year 10.

Estimate the amount of interest paid at year 10.