Mortgages and Home Ownership — Unit test Answers

Aliyah made a payment in the amount of $47.93. She’ll use the check register to record her transaction. What will be her new balance? Do not use commas in your answer.$

This table can be used to organize Raj’s credit card balances and payments over 6 months. The annual percentage rate on the card is 18%.Raj’s Credit Card PaymentsMonthBalancePaymentInterest RateInterest Charged1$500$1000.015$6.002$406$500.015 3$361.34$500.015 4$316.01$500.015 5$270$500.015 6$223.30$500.015 What is the amount of total interest charged for the first 6 months?$

Fiona wrote a check to the veterinarian for $89.56. She’ll use the check register to record her transaction. What will be her new balance?

Which is considered a good credit practice?

A down payment is usually what percentage of the asking price of a home?

The charts show the effect of an interest rate adjustment on an adjustable-rate mortgage.The change in interest rate shown in the charts resulted in

Jessica is trying to get a credit card. She has a credit score of 790. How is Jessica’s lender likely to view this credit score?

A mortgage is a legal agreement between a borrower and a

In which column on a check register should the total current amount in the account be entered?

most likely

The table shows a schedule of the first year of Kamil’s payment plan for a car. Kamil’s Payment Plan for the First YearYearBalanceMonthly PaymentEnd of YearBalance1$13,086.72$363.52$8,724.48 How many years will it take Kamil to pay off the loan?

Rita has a credit card that gives a 6% discount on every purchase. The annual percentage rate on the card is 15%. She is purchasing a digital camera for $300.If she purchases the camera and only pays $80 on the first month’s bill, how much will she need to pay off the balance the following month?

Which describes the difference between a personal loan and a credit card?