Final STUDY GUIDE- AFA

Final STUDY GUIDE- AFA

11th Grade

33 Qs

quiz-placeholder

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Final STUDY GUIDE- AFA

Final STUDY GUIDE- AFA

Assessment

Quiz

Mathematics

11th Grade

Practice Problem

Medium

CCSS
6.RP.A.3C, HSF.BF.A.2, 8.EE.C.7B

+7

Standards-aligned

Created by

Brandi Dabbs

Used 2+ times

FREE Resource

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33 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Paul is buying a house for $300,000. His down-payment is 10%. What will his down-payment be?

$3,000

$30,000

$33,000

$60,000

Tags

CCSS.6.RP.A.3C

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the beginning years of a mortgage, what is most of your payment going towards?

The principal

The interest

The down payment

The principal and interest

3.

DRAG AND DROP QUESTION

30 sec • 1 pt

Fees associated with the process of securing a mortgage are called (a)   costs. They can account for 3-5% of the mortgage.

Mortgage

Property

Escrow

Closing

4.

DRAG AND DROP QUESTION

30 sec • 1 pt

Additional costs that include property tax and home insurance are called (a)   .

Mark only one oval.

  • - Mortgage
  • - Property
  • - Escrow
  • - Closing

Mortgage

Property

Escrow

Closing

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is the bank protecting when charging an escrow?

Themselves

The buyer

The seller

The county

6.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

This schedule shows you the breakdown of what you owe towards the principal vs what you owe towards the interest: Mark only one oval.

Loan

Interest

Principal

Amortization

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If Jamal has a monthly payment of $1,750 for 30 years, how much will he have paid over the course of the loan?

$1750

$52,500

$630,000

$975,000

Tags

CCSS.HSF.BF.A.2

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