5
QuizMultiple Choice

Long-Term Budgets — Quiz

Question 5 • Advanced Financial Algebra

A couple just bought their first home. How might this impact their personal budget in the long term?

Answer
A
It will reduce their monthly housing costs.
B
It will increase their monthly expenses due to maintenance costs.
C
It will increase their monthly utility expenses.
D
It will have no effect on their budget.

Explanation

Owning a home brings ongoing costs beyond the mortgage, including repairs and routine maintenance. These costs can increase the couple’s expenses over time, so the best choice is “It will increase their monthly expenses due to maintenance costs.”

AI-written and checked against the verified answer.

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