AnswersFinancial literacy Q2 - Brinkerhoff - 2000 - 202526Disclosure Statement and Course Details

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Joshua is in college, and his computer broke. He can get it repaired, but it will take three weeks.What is the best decision that Joshua can make if he wants to spend the least amount of money?

A
rent a computer for three weeks
B
pay cash for a new computer
C
use a rent-to-own program to buy a new computer
D
use an installment plan to buy a new computer
27042
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$528$924 $1,404

A
$528
B
$924
C
$1,404
27043

4 months7 months10 months

A
4 months
B
7 months
C
10 months
27044

What are the disadvantages if Jamir decides to purchase the car? Check all that apply.

A
He will not get the model he wants.
B
He will have to come up with a bigger down payment.
C
His monthly payments will be higher.
D
He will have to return the car when he is done making payments.
E
The purchase price will be higher.
27045

Jamir’s new job is 25 miles away from his home. What is the most important thing he needs to consider before agrees to a lease?

A
Will he enjoy riding in his new car?
B
Will he drive more than 15,000 miles per year?
C
Will he be able to afford his $432 payment?
D
Will he be able to come up with the $2,500 down payment?
27046

What is included in Sasha’s mortgage payment? Check all that apply.

A
repairs, if something breaks
B
utilities, such as electricity and water
C
homeowner's insurance and property taxes
D
maintenance costs for the home
E
interest on the loan
27047

What is the advantage of buying the house over renting the apartment?

A
Sasha’s monthly expenses would be less for buying than for renting.
B
The extra expenses in the mortgage payment cover all maintenance and repairs.
C
Sasha’s down payment will likely be less if she decided to buy.
D
Sasha will own the house and earn equity as its value increases.
27048

What is the advantage of renting the apartment over buying a home? Check all that apply.

A
Repairs and maintenance costs are not Sasha’s responsibility.
B
Utilities, such as electricity and water, are included in Sasha's rent payment.
C
Sasha's up-front costs will be lower, allowing her to keep her savings.
D
Sasha's monthly costs will be lower.
E
Sasha will make money if the value of the apartment increases.
27049

Sasha's new company has told her that she will be required to move at her own expense in two years. What should she consider before making her decision?

A
The monthly costs of renting and buying.
B
The extra expenses needed for maintenance while she lives in the house.
C
The amount of the down payment she will need to make.
D
The expense of selling the home when she leaves the city.
27050

Joshua is in college, and his computer broke. He can get it repaired, but it will take three weeks.What is the best decision that Joshua can make if he wants to spend the least amount of money?

A
rent a computer for three weeks
B
pay cash for a new computer
C
use a rent-to-own program to buy a new computer
D
use an installment plan to buy a new computer
27051

What are the disadvantages if Jamir decides to purchase the car? Check all that apply.

A
He will not get the model he wants.
B
He will have to come up with a bigger down payment.
C
His monthly payments will be higher.
D
He will have to return the car when he is done making payments.
E
The purchase price will be higher.
27052

Jamir’s new job is 25 miles away from his home. What is the most important thing he needs to consider before agrees to a lease?

A
Will he enjoy riding in his new car?
B
Will he drive more than 15,000 miles per year?
C
Will he be able to afford his $432 payment?
D
Will he be able to come up with the $2,500 down payment?
27053

What is included in Sasha’s mortgage payment? Check all that apply.

A
repairs, if something breaks
B
utilities, such as electricity and water
C
homeowner's insurance and property taxes
D
maintenance costs for the home
E
interest on the loan
27054

What is the advantage of buying the house over renting the apartment?

A
Sasha’s monthly expenses would be less for buying than for renting.
B
The extra expenses in the mortgage payment cover all maintenance and repairs.
C
Sasha’s down payment will likely be less if she decided to buy.
D
Sasha will own the house and earn equity as its value increases.
27055

What is the advantage of renting the apartment over buying a home? Check all that apply.

A
Repairs and maintenance costs are not Sasha’s responsibility.
B
Utilities, such as electricity and water, are included in Sasha's rent payment.
C
Sasha's up-front costs will be lower, allowing her to keep her savings.
D
Sasha's monthly costs will be lower.
E
Sasha will make money if the value of the apartment increases.
27056

Sasha's new company has told her that she will be required to move at her own expense in two years. What should she consider before making her decision?

A
The monthly costs of renting and buying.
B
The extra expenses needed for maintenance while she lives in the house.
C
The amount of the down payment she will need to make.
D
The expense of selling the home when she leaves the city.
27057

Maria is considering buying a television and a refrigerator for her new apartment. Her monthly budget is $200.

Answers:
Maria will pay an extra if she uses the rent-to-own program to buy the television, rather than waiting until she saves up enough money to pay cash for it.:$924
If she saves her money and pays cash, she can purchase a refrigerator in .:4 months
27058

Maria is considering buying a television and a refrigerator for her new apartment. Her monthly budget is $200. Maria will pay an extra if she uses the rent-to-own program to buy the television, rather than waiting until she saves up enough money to pay cash for it. If she saves her money and pays cash, she can purchase a refrigerator in .

Answers:
Selection 1:$924
Selection 2:4 months
27059

✔ 4 months7 months10 months

A
4 months
B
7 months
C
10 months

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