HOME AND MORTGAGE

Grade Received: 100.0% (30.00 pts out of 30.00 pts)



Question Number 1	Points: 5.00/5.00
Question Text
What is the term for the amount of value that you have in a property that you are purchasing or already own?
Your Answer
B. Equity
Question Number 2	Points: 5.00/5.00
Question Text
Find to the nearest cent: M = Pr(1 + r)n / [(1 + r)n – 1], where P = $27,250, r = 0.006, and n = 42.
Your Answer
D. M = $735.92
Question Number 3	Points: 5.00/5.00
Question Text
What is a term which describes how much you own in property and savings and what debts that you are responsible for?
Your Answer
C. Financial position
Question Number 4	Points: 5.00/5.00
Question Text
What is a term for accepting others’ goods on a continuing basis without offering anything of value in return?
Your Answer
A. Freeloading
Question Number 5	Points: 5.00/5.00
Question Text
What can an item or service be called that requires monetary payment?
Your Answer
B. Expense
Question Number 6	Points: 5.00/5.00
Question Text
Use a calculator to compute the following: approximate M = Pr(1 + r)n / [(1 + r)n – 1], where P = 100, r = 0.005, and n = 36.
Your Answer
A. M = 3.042
Question Number 7	Points: 5.00/5.00
Question Text
Find to the nearest cent: M = Pr(1 + r)n / [(1 + r)n – 1], where P = $23,500, r = 0.00583, and n = 36.
Your Answer
C. M = $725.57
Question Number 8	Points: 5.00/5.00
Question Text
Use a calculator to compute the following: approximate M = Pr(1 + r)n / [(1 + r)n – 1], where P = 10,000, r = 0.00583, and n = 24.
Your Answer
D. M = 447.708
Question Number 9	Points: 5.00/5.00
Question Text
What is a name for an official agreement in writing that states the payments, favors, and conditions that each promises the other due to some transaction?
Your Answer
A. Contract
Question Number 10	Points: 5.00/5.00
Question Text
The values of houses and lands often increase over time even without further enhancement. What is this trait called?
Your Answer
A. Appreciation