What is the monthly cost of living at your current residence?
Unit 14 Review

Quiz
•
Mathematics
•
12th Grade
•
Medium
Sarah Fucsko
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
$1,460.00
$1,300.00
$1,253.34
$1,283.75
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is the expected monthly cost of living at your new residence?
$1,072.08
$1,300.00
$1,565.00
$1,265.83
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Based on the last 2 questions, which has a lower cost of living, your current residence or your new residence?
Current Residence
New Residence
They are the same cost
4.
MATCH QUESTION
2 mins • 2 pts
Match each term with its description.
leasing
involves a title of ownership with specific taxes and payments required
buying
involves a pre-determined period of time with specific conditions and required maintenance
renting
involves a short period of time for the temporary use of an asset
5.
MATCH QUESTION
2 mins • 2 pts
Match each equity amount to one of the given scenarios.
$50,000
You purchased a home for $234,000 and it is now valued at $284,000.
$22,000
You purchased a home for $150,000 and it is now valued at $170,000.
$20,000
You purchased a home for $193,000 and it is now valued at $215,000.
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Your car insurance is due annually and generally costs about $2,000. You decide that you would like to set aside a monthly amount, beginning in January, to be prepared for when this bill comes at the end of the year. How much should you set aside each month?
$166.67
$2,000
$333.33
$24,000
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Suppose you need to decide between an apartment that costs $950/month for a month-to-month contract, or $800/month for an annual contract. The annual contract includes a 2-month early termination penalty if you leave before 12 months.
Which option would be more cost effective if you plan to stay for only 8 months?
For 8 months, the total rent is the same, so neither is more cost effective than the other.
It is always more cost effective to not pay a penalty.
The month-to-month contract is more cost effective.
The annual contract is more cost effective.
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