4.2: Buying a Home

What word means the part of the price paid at the time of purchase?

• Down Payment

• Financed

• Interest

• Mortgage

• Principal

What word means the same thing as borrowed?

• Down Payment

• Financed

• Interest

• Mortgage

• Principal

What word is a payment charged to the borrower for the use of money?

• Down Payment

• Financed

• Interest

• Mortgage

• Principal

What word is another word for a property loan?

• Down Payment

• Financed

• Interest

• Mortgage

• Principal

What word means the amount of money loaned to a creditor?

• Down Payment

• Financed

• Interest

• Mortgage

• Principal

Annual Salary: $92,250

Maximum Mortgage Amount: _____

• $230,525

• $230,625

• $230,725

• $230,825

• $230,925

Weekly Salary: $399

Maximum Mortgage Amount: _____

• $51,570

• $51,670

• $51,770

• $51,870

• $51,970

Monthly Salary: $5,275

Maximum Mortgage Amount: _____

• $158,150

• $158,250

• $158,350

• $158,450

• $158,550

Semimonthly Salary: $3,690

Maximum Mortgage Amount: _____

• $221,100

• $221,200

• $221,300

• $221,400

• $221,500

Biweekly Salary: $2,100

Maximum Mortgage Amount: _____

• $136,100

• $136,200

• $136,300

• $136,400

• $136,500