Home Ownership Answers

Jamal has owned his home for about 5 years. His refrigerator needs to be replaced and Jamal is thinking about buying an Energy Star-labeled model that will save money on his utility bills. The model he is looking at costs $598 and advertises a cost of only 12 cents per day. Jamal has calculated that he spends about $132 per year on his old refrigerator. How long would it take for the new refrigerator to pay for itself in lower utility costs? Round to the nearest whole year.a.7 yearsb.14 yearsc.5 yearsd.11 years

The national average utility cost is $270.48 per month. If the average electric bill is 44.9% of the total amount and the average utility cost for Orlando, FL is $308.83, what would be the cost of a typical Orlando electric bill and how would that compare with the national average?a.The typical Orlando electric bill would be $138.66, which would be $17.21 more than the national average.b.The typical Orlando electric bill would be $121.54, which would be $17.21 less than the national average.c.The typical Orlando electric bill would be $138.66, which would be $76.64 more than the national average.d.The typical Orlando electric bill would be $121.54, which would be $76.64 less than the national average.

Jack is trying to determine how he can save money by cutting his electricity bill. He is currently on a standard use plan for electricity and pays 7.5 cents per kWh. He keeps track of when he uses electricity and is thinking about switching to an interval use plan for electricity which costs 3 cents per kWh for off-peak use and 15 cents per kWh for on-peak use. Off-peak hours are from 8PM - 8AM and on-peak hours are from 8AM - 8PM. Below is the chart of his electricity usage:Jack’s Electricity Usage Per Month1200 kWh between 8PM and 8AM400 kWh between 8AM and 8PMExplain and justify which plan would best suit his needs.a.Jack should not switch to the interval use plan, which would cost $24 more per month.b.Jack should switch to the interval use plan, which would save him $24 per month.c.Jack should switch to the interval use plan, which would save him $96 per month.d.Jack should not switch to the interval use plan, which would cost $96 more per month.

Shanika and Vanesa are comparing their electric bills for the past month. Shanika is on a standard use plan and Vanesa is on an interval use plan. Each person’s usage is listed on the chart below:Standard Use PlanInterval Use Plan7.5 cents/kWh for the first 400 kWh10 cents/kWh for the next 400 kWh12.5 cents/kWh for anything over 800 kWhOn-peak hours - 15 cents/kWhOff-peak hours - 3 cents/kWhBoth women use 1,325 kWh for the given 30 day period. Vanesa uses 500 kWh during on-peak hours and 825 during off-peak hours. Which person ends up paying more for their utilities? How much more?a.Vanesa pays $35.88 more than Shanika.b.Vanesa pays $99.75 more than Shanika.c.Shanika pays $35.88 more than Vanesa.d.Shanika pays $99.75 more than Vanesa.

Hanna wants to calculate the cost of her electric bill. She is on a standard use plan that has a graduated fee schedule. Standard Use Plan8.5 cents/kWh for the first 400 kWh12 cents/kWh for the next 400 kWh14.5 cents/kWh for anything over 800 kWhHow much will her bill be if she uses 1,465 kWh? Round to the nearest dollar.a.$82b.$96c.$178d.$144

Anna is trying to save some money on her electric bill. Her electric company has come up with a new plan designed to charge customers based on when they use electricity. She is trying to decide if the new interval use plan would be better than the standard use plan for her needs. Calculate the monthly costs of both plans if she uses 1,185 kWh of electricity per month with 500 kWh on-peak usage and the rest off-peak usage.Standard Use PlanInterval Use Plan8.5 cents/kWh for the first 600 kWh11 cents/kWh for anything over 600 kWhOn-peak hours - 16 cents/kWhOff-peak hours - 4 cents/kWha.standard use plan - $64.35; interval use plan - $80.00b.standard use plan - $115.35; interval use plan - $107.40c.standard use plan - $64.35; interval use plan - $107.40d.standard use plan - $115.35; interval use plan - $80.00

The average national utility price is $270.48. Over a 6-month period, what is the average utility price in Dallas? How does this compare with the national average? a. $1,956; higher than the national average b. $326; higher than the national average c. $163; lower than the national average d. $333; higher than the national average Please select the best answer from the choices provided

The average national utility price is $270.48. Over a 6-month period, what is the average utility price in Dallas? How does this compare with the national average? a. $1,956; higher than the national average b. $326; higher than the national average c. $163; lower than the national average d. $333; higher than the national average Please select the best answer from the choices provided

The Davis family purchased a house last year. They put $20,000 towards a down payment and took out a $265,000 mortgage. Because it was a new home, all the repairs and maintenance were covered under the builder’s warranty, but the Davises want to budget this coming year for unexpected expenses. When estimating costs for home repair and maintenance, a good estimate is to budget 1% of the purchase price of a house. What would be a good yearly estimate of repairs and maintenance for the Davis family’s home?a.$28,500b.$2,650c.$2,850d.$200