Worksheets8-3: Mortgage Application Process
Total questions: 15
Worksheet time: 4hrs 45mins
You are planning to buy a home. You have some money for a down payment already. You see a home you would like and compute that you would need to borrow $91,500 from a bank over a 25-year period. The APR is 3.28%. Calculate the interest paid.
$447.34
$447.35
$134,205
$42,705
$42,702
You are planning to buy a home. You have some money for a down payment already. You see a home you would like and compute that you would need to borrow $115,250 from a bank over a 15-year period. The APR is 2.82%. Calculate the interest paid.
$28,222.60
$26,222.80
$141,472.80
$785.96
$785.95
You are planning to buy a home. You have some money for a down payment already. You see a home you would like and compute that you would need to borrow $219,090 from a bank over a 20-year period. The APR is 1.9%. Calculate the interest paid.
$1,097.99
$1,098.00
$263,517.60
$44,426.70
$44,427.60
You are planning to buy a home. You have some money for a down payment already. You see a home you would like and compute that you would need to borrow $187,000 from a bank over a 10-year period. The APR is 3.4%. Calculate the interest paid.
$33,850.40
$33,898.40
$220,898.40
$1,840.42
$1,840.41
You are planning to buy a home. You have some money for a down payment already. You see a home you would like and compute that you would need to borrow $304,000 from a bank over a 30-year period. The APR is 2.99%. Calculate the interest paid.
$1,280.03
$1,280.04
$460,814.40
$156,814.40
$156,810.80
The assessed value of your home is $175,000. The annual property tax rate is 2.1% of assessed value. What is the property tax?
$3,655
$3,665
$3,675
$3,685
$3,695
The assessed value of your home is $201,000. The annual property tax is 3.4% of assessed value. What is the property tax?
$6,834
$6,835
$6,836
$6,837
$6,838
The assessed value of your home is $72,085. The annual property tax is 4.9% of assessed value. What is the property tax?
$3,532.16
$3,532.17
$3,532.18
$3,532.19
$3,532.20
The assessed value of your home is $82,999. The annual property tax is 5.3% of assessed value. What is the property tax?
$4,398.98
$4,398.97
$4,398.96
$4,398.95
$4,398.94
The assessed value of your home is $65,000. The annual property tax is 0.99% of assessed value. What is the property tax?
$643.10
$643.20
$643.30
$634.40
$643.50
You have a mortgage payment with a local bank. The bank requires that you pay your homeowner’s insurance, property taxes, and mortgage in one monthly payment to the bank. Your monthly mortgage is $999.99, your annual property tax bill is $1,083, and your quarterly homeowner’s insurance is $502. What is your total monthly payment?
$1,257.55
$1,257.56
$1,257.57
$1,257.58
$1,257.59
You have a mortgage payment with a local bank. The bank requires that you pay your homeowner’s insurance, property taxes, and mortgage in one monthly payment to the bank. Your monthly mortgage is $765.43, your quarterly property tax bill is $391, and your semi-annual homeowner’s insurance is $1,921. What is your total monthly payment?
$1,215.92
$1,215.93
$1,215.94
$1,215.95
$1,215.96
You have a mortgage payment with a local bank. The bank requires that you pay your homeowner’s insurance, property taxes, and mortgage in one monthly payment to the bank. Your monthly mortgage is $1,020.87, your semi-annual property tax bill is $415, and your annual homeowner’s insurance is $3,000. What is your total monthly payment?
$1,340.02
$1,340.03
$1,340.04
$1,340.05
$1,340.06
You have a mortgage payment with a local bank. The bank requires that you pay your homeowner’s insurance, property taxes, and mortgage in one monthly payment to the bank. Your monthly mortgage is $1,145.91, your quarterly property tax bill is $207, and your semi-annual homeowner’s insurance is $1,523. What is your total monthly payment?
$1,468.70
$1,468.71
$1,468.72
$1,468.73
$1,468.74
You have a mortgage payment with a local bank. The bank requires that you pay your homeowner’s insurance, property taxes, and mortgage in one monthly payment to the bank. Your monthly mortgage is $563.29, your annual property tax bill is $985, and your quarterly homeowner’s insurance is $318. What is your total monthly payment?
$751.37
$751.38
$751.39
$751.40
$751.41
