Mortgages and Home Ownership — Unit test Answers

Of the four consumer protection groups listed below, identify which groups are government agencies and which are non-governmental.I. Better Business BureauII. Consumer Product Safety CommissionIII. Consumers UnionIV. Food and Drug Administration

The following chart shows a store’s coat sales for two years. Identify the percent increase in total sales and the percent increase in sales of jackets. Then find which percent of increase is greater and by how much greater it is than the other. (Round your answer to the nearest tenth.)

A down payment is usually what percentage of the asking price of a home?

Money for a personal loan is usually issued to the borrower

The table shows a schedule of the first year of Kamil’s payment plan for a car. Kamil’s Payment Plan for the First YearYearBalanceMonthly PaymentEnd of YearBalance1$13,086.72$363.52$8,724.48 How many years will it take Kamil to pay off the loan?

When applying for credit, what information should borrowers research? Check all that apply.feesgovernment regulationsinterest ratesintroductory ratesrequired repayments

Rita has a credit card that gives a 6% discount on every purchase. The annual percentage rate on the card is 15%. She is purchasing a digital camera for $300.If she purchases the camera and only pays $80 on the first month’s bill, how much will she need to pay off the balance the following month?

A mortgage is a legal agreement between a borrower and a

What are possible advantages and disadvantages of using automatic withdrawal to pay bills? Check all that apply.

What’s the first step of purchasing insurance?

Which form of government insurance provides assistance to people who cannot work due to age or disability?

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The chart describes four people’s credit histories.Creditworthy CriteriaNameDescription of Credit HistoryEllieHas more debt than earningsCollinPays only some of his bills every monthJacobHas made three late payments in the past yearEeshaPays more than the minimum payment each monthWhich person is creditworthy?EllieCollinJacobEesha

A credit score tells a lender how