Financial Algebra Chapter 4 test

Jacob Gomez is buying a $245,000 home. He has been approved for a 6.0% APR mortgage. He was required to make a 20% down payment.
 
How much is the loan amount for?

• $49,000
• $196,000
• $14,700
• $230,300

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.2

CCSS.HSN.Q.A.1

Jacob Gomez is buying a $245,000 home. He has been approved for a 6.0% APR mortgage. He was required to make a 20% down payment
 
How much interest will he pay in one year?

• $14,750
• $16,229.60
• $11,760
• $13,818

Tags

CCSS.HSA.REI.B.3

CCSS.HSF.BF.A.1

Veronica Trevino has been approved for a $525,000, 30 year mortgage with an APR of 4.0%
 
How much will her monthly mortgage payment be? (hint: use Monthly Mortgage payment formula on the board)

• $1,458.33
• $2,506.42
• $2745.58
• $2,239.93

Tags

CCSS.HSA.APR.D.6

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.2

Veronica Trevino has been approved for a $525,000, 30  mortgage with an APR of 3.5%
 
How much money will she pay in one year?

• $17,499.96
• $30,077.04
• $75,192.60
• $26,879.16

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

CCSS.HSN.Q.A.1

Veronica Trevino has been approved for a $525,000, 30 year mortgage with an APR of 4.0%
 
How much money will she pay in 30 years?

• $525,000
• $2,255,778
• $902,311.20
• $806,374.80

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

CCSS.HSN.Q.A.1

Veronica Trevino has been approved for a $525,000, 30 year mortgage with an APR of 4.0%
 
How much interest will she pay after 30 years?

• $125,550
• $281,374.80
• $377,311.20
• $439,528.65

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.B.4

The assessed value of Sherman house is $625,000. The annual property tax rate is 1.75% of the assessed value.
 
What is the property tax on their home?

• $10,937.50
• $12,983.25
• $109,375
• $15,360.69

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.2

CCSS.7.RP.A.3

The assessed value of Sherman house is $625,000. The annual property tax rate is 1.75% of the assessed value.
 
How much do they pay monthly towards property taxes? Round to the nearest cent.

• $911.46
• $1,081.94
• $9,114.58
• $1,280.06

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.3

A rectangular room measures 15 feet by 20 feet. It is going to be carpeted with carpeting that sells for $8.75 per square foot?
 
what is the area of the room in square feet?

• 300 ft²
• 2,250 ft²
• 225 ft²
• 400 ft²

Tags

CCSS.HSG.GPE.B.7

A rectangular room measures 15 feet by 20 feet. It is going to be carpeted with carpeting that sells for $8.75 per square foot?
 
What is the total price of the carpeting?

• $8.75
• $1,968.75
• $2,625
• $3,500

Tags

CCSS.7.EE.B.3

CCSS.7.G.B.6