Math Apps Unit 4 part 2 Quiz

Use your millage rates handout (York County, PA) and determine the school tax charged to a home in Chanceford, zoned for Red Lion if the house was assessed at $355,000 (nearest penny)

• $8340.00

• $2449.50

• $213.00

• $7909.08

Use your millage rates handout (York County, PA) and determine the Municipal tax charged to a home in Heidelbeg zoned for Spring Grove if te home assessed for $450,000 (nearest penny).

• $1012.50

• $10841.49

• $3105.00

• $3270.00

For all property in York County, the property millage rate is:

• 22.34

• 6.9

• 5.54

• It varies from township to township

Suppose you were going to build a home that will be assessed at $300,000. In which area would the property taxes be the lowest?

• Peach Bottom (Southeastern)

• Sprigettsbury Independent (York Suburban)

Select ALL of the following that are REASONS you should never rent without a LEASE agreement:

• A lease protects you from random increases in rent during the year.

• A lease protects your rights to privacy and a place to live for the duration of the lease.

• A lease spells out what you can and cannot do with the property.

• A lease allows you to sublet your rental to someone else.

Shay is shoppoing for a place to live in Hanover. She found an apartment for $1,825 per month she liked and she found a home for sale for $299,00. If she earns $90,000 per year, which can she afford.

• Neither. She needs to look for something cheaper.

• She can only afford the apartment at $1825.00 per month

• Both. She only needs to choose one.

• She an only afford the house at $299,000.

Shay landed a new job that pays $125,000. per year. What is her DTI (Debt to Income) ratio based on the budget shown? Do you think she would be able to get a loan for that $299,000 house now? Which statement below is correct?

• No, her new salary is still not enough to purchase the house, even though her DTI is below 35%

• Yes. Her new salary is sufficient to purchase the house and her DTI is well below 35%

• No, her salary is enough to buy the house but her DTI is too high, above 43%

• No, her salary is still too low AND her DTI is above 43%

Margo bough a house and had to borrow $275,000. Her interest rate is 6.25% for a 30 year loan. Use Desmos and the formula in your notes to determine her monthly house payment.

• $1578.92

• $1684.29

• $8391.22

• $1693.22

If Margo makes payments of $1693.22 each month for 360 months, how much will she have paid for the house (excluding down payment) at the end of the 30 years?

• $609,559.20

• $537,554.87

• $299,000

• $598,723.23

Since Margo took out a loan for $275,000 and paid $609,559.20 for this home, how much of what she paid was interest paid to the bank?

• $334,559.20

• $884,559.20

• $897.00

• $325,078.20