Spending

Question 1

Maria is considering buying a television and a refrigerator for her new apartment. Her monthly budget is $200. Maria will pay an extra if she uses the rent-to-own program to buy the television, rather than waiting until she saves up enough money to pay cash for it. If she saves her money and pays cash, she can purchase a refrigerator in .

Revolt · Accepted Answer

B: $924

Question 2

Question 2

Revolt · Accepted Answer

D

Question 3

What are the disadvantages if Jamir decides to purchase the car? Check all that apply.

Revolt · Accepted Answer

B: He will have to come up with a bigger down payment.; C: His monthly payments will be higher.

Question 4

Jamir’s new job is 25 miles away from his home. What is the most important thing he needs to consider before agrees to a lease?

Revolt · Accepted Answer

B: Will he drive more than 15,000 miles per year?

Question 5

What is included in Sasha’s mortgage payment? Check all that apply.

Revolt · Accepted Answer

C: homeowner's insurance and property taxes; E: interest on the loan

Question 6

What is the advantage of buying the house over renting the apartment?

Revolt · Accepted Answer

D: Sasha will own the house and earn equity as its value increases.

Question 7

What is the advantage of renting the apartment over buying a home? Check all that apply.

Revolt · Accepted Answer

A: Repairs and maintenance costs are not Sasha’s responsibility.; C: Sasha's up-front costs will be lower, allowing her to keep her savings.; D: Sasha's monthly costs will be lower.

Question 8

Question 8

Revolt · Accepted Answer

D

Question 9

Question 9

Revolt · Accepted Answer

A: 4 months

Spending Answers

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