What is the initial loan amount taken out for the mortgage?

Understanding Mortgage Payments

Interactive Video
•
Mathematics, Business
•
10th - 12th Grade
•
Hard

Mia Campbell
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
$295,000
$300,000
$275,000
$250,000
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the annual interest rate on the mortgage?
5.5%
6.0%
4.5%
5.2%
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How many monthly payments are made in the first 5 years?
50
72
48
60
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
After 5 years of payments, how much is still owed on the mortgage?
$271,653.83
$295,000.00
$250,000.00
$300,000.00
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the number of months in 20 years for the mortgage calculation?
220
240
200
180
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much is still owed after making payments for 20 years?
$151,324.40
$200,000.00
$175,000.00
$100,000.00
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How many months are there in 28 years for the mortgage calculation?
336
320
350
300
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