Mortgages and Home Ownership — Unit test Answers

Lyle deposited a check for $75.26. He’ll use the check register to record his transaction. What will be his new balance?

Isabella bought a CD player at the store. She will receive the bill at the end of the month. She plans to pay $30 each month until the bill is paid in full. How did Isabella pay for the CD player?

Dahlia is explaining to her sister why a positive credit history is important. Which of the following should Dahlia give as reasons for a positive credit history? Check all that apply.

Which bank does not charge at all for using the ATM? Bank Account Terms and Conditions

Aria has a credit card that gives a 5% discount on every purchase and free shipping when used online. The annual percentage rate on the credit card is 18%. Aria wants to buy a doghouse that costs $580. Which statement about the cost of the doghouse is true?

Wilbur has $800 to open a checking account. He can maintain a minimum balance of at least $500. He plans to use the ATM twice a month and he maintains a savings account at the same bank. His employer has direct deposit and he sometimes overdrafts his account. Bank Account Terms and ConditionsWilbur wants a checking account with the lowest fees. Which checking account would be best for Wilbur?

The chart shows a range of credit scores.

Which information is found on a credit report?

What is a benefit of obtaining a personal loan?

Which accurately describes the terms of this mortgage? Check all that apply.

Kendrick is planning to buy a house. Which explains why he should establish a positive credit history before buying the house?

What best determines whether a borrower’s interest rate on an adjustable rate loan goes up or down?

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Homeowners typically pay property taxes to

Tran has a credit card with a spending limit of $2000 and an APR (annual percentage rate) of 12%. During the first month, Tran charged $450 and paid $150 of that in his billing cycle. Which expression will find the amount of interest Tran will be charged after the first month?

James has $1500 to open a checking account. He can maintain a monthly balance of at least $1000. He plans to use the ATM four times per month at his local branch. He does not overdraft his account and plans to use direct deposit. He also plans to pay his bills online and he averages 8 bills per month. Bank Account Terms and ConditionsJames wants an account with the lowest fees. Which checking account would be best for James?