Answers CMS 2026-2027 Economics and Personal Finance HONORS INITIAL CREDIT Mortgages and Home Ownership — QuizQuestion 1

1

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Mortgages and Home Ownership — Quiz

Question 1 • CMS 2026-2027 Economics and Personal Finance HONORS INITIAL CREDIT

If someone buys a home for $200,000 and makes a 20 percent down payment, that person will have to

Answer

A

pay $40,000 up front.

B

take out a mortgage for $200,000.

C

take out a mortgage for $220,000.

D

pay $20,000 up front.

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