Financial Algebra Chapter 4 test

Financial Algebra Chapter 4 test

12th Grade

18 Qs

quiz-placeholder

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Financial Algebra Chapter 4 test

Financial Algebra Chapter 4 test

Assessment

Quiz

Mathematics

12th Grade

Hard

CCSS
HSA.CED.A.1, HSA.REI.B.3, 7.G.B.6

+12

Standards-aligned

Created by

Luke Marvulli

Used 33+ times

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18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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.6.EE.B.6

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