8
QuizMultiple Choice

Mortgages and Home Ownership

Question 8 • TX-Personal Financial Literacy and Economics

When people take out a mortgage, they must pay back the money

Answer
A
when they are able.
B
within a year.
C
over time, usually many years.
D
as soon as they can.

Explanation

A mortgage is a loan used to buy property, and it is normally repaid in scheduled payments over a long period. These payments often continue for many years, rather than being due all at once or within a year. Therefore, the correct choice is “over time, usually many years.”

AI-written and checked against the verified answer.

Previous
Next