10.05 Semester Test: Consumer Math/ 50
Quizzes with Certified Solutions.
Alice makes $20,504 annually.
What is the maximum monthly rent that she can afford to pay? - Answer: $478
Which two-bedroom will cost the most to rent monthly?
Assume that electric is $50 and gas is $69. - Answer: Downtown Apts
How much would you pay in move-in costs for the two-bedroom Hometown Apartment if you pay first
and last month's rent, a $185 security deposit, and a 30 percent fee to the rental agent?
Round to the nearest dollar. - Answer: $1,370
Erica makes $4,840 monthly.
What is the maximum loan she can take out on a house? - Answer: $116,160
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, Larry has saved $18,500 toward a down payment on a house.
If he makes $3,890 a month, how much can he afford to spend on a house? - Answer: $111,860
Use this formula to find the value of a house with appreciation:
A=V(1+r)^Y
When Henry bought his house for $135,700, he was told that it would appreciate at a rate of five percent
per year.
If this remains true, how much will his house be worth in four years? - Answer: $164,944
House A $125,260 Appreciates 5% each year
House B $120,160 Appreciates 6% each year
Which house is worth more after two years? - Answer: House A
If Angela's $98,760 home appreciates three percent a year, will she have enough appreciation to try to
sell the home for a $15,000 profit in five years? - Answer: Yes
If Audrey's home is worth $160,900, and is assessed at 60 percent of market value, what is her assessed
valuation? - Answer: $96,540
If Nora's house has an assessed value of $76,320 and a real estate tax rate of $2.98 per $100, what will
she pay in real estate tax? - Answer: $2,274.34
Your full replacement insurance pays the following.
Other Structures 10%
Living Expenses during Repair 20%
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Quizzes with Certified Solutions.
Alice makes $20,504 annually.
What is the maximum monthly rent that she can afford to pay? - Answer: $478
Which two-bedroom will cost the most to rent monthly?
Assume that electric is $50 and gas is $69. - Answer: Downtown Apts
How much would you pay in move-in costs for the two-bedroom Hometown Apartment if you pay first
and last month's rent, a $185 security deposit, and a 30 percent fee to the rental agent?
Round to the nearest dollar. - Answer: $1,370
Erica makes $4,840 monthly.
What is the maximum loan she can take out on a house? - Answer: $116,160
Page 1 of 10
, Larry has saved $18,500 toward a down payment on a house.
If he makes $3,890 a month, how much can he afford to spend on a house? - Answer: $111,860
Use this formula to find the value of a house with appreciation:
A=V(1+r)^Y
When Henry bought his house for $135,700, he was told that it would appreciate at a rate of five percent
per year.
If this remains true, how much will his house be worth in four years? - Answer: $164,944
House A $125,260 Appreciates 5% each year
House B $120,160 Appreciates 6% each year
Which house is worth more after two years? - Answer: House A
If Angela's $98,760 home appreciates three percent a year, will she have enough appreciation to try to
sell the home for a $15,000 profit in five years? - Answer: Yes
If Audrey's home is worth $160,900, and is assessed at 60 percent of market value, what is her assessed
valuation? - Answer: $96,540
If Nora's house has an assessed value of $76,320 and a real estate tax rate of $2.98 per $100, what will
she pay in real estate tax? - Answer: $2,274.34
Your full replacement insurance pays the following.
Other Structures 10%
Living Expenses during Repair 20%
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