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Cards in this guide (25)
What is principal

the amount borrowed from a lender

What institution insures individual banking accounts

minimum check-writing fee

Which of these is the best description of delinquency

It is the condition whereby the scheduled repayment of a loan has not been received by a specified due date.

What is done with the finance charge assessed by a credit card company

added to the balance

Which of these is a lien on the property that secures the promise to repay a loan

mortgage

Which of these is a document that gives an estimate of a propertys fair market value

appraisal

This is Paula's monthly budget What percent of her expenses is spent on insurance

20Given Paula's monthly budget, the percentage of expenses spent on insurance can be determined by subtracting all the other expenses from the monthly budget, which leaves you with the anoint spent on insurance.

Does your checkbook balance when you have outstanding checks that total 224.79 an ending balance of 59.56 outstanding deposits of 325.46 and a checkbook balance of 165.15

no

Latoria is planning to borrow 12500.00 with a simple interest rate of 5.2 percent for 4 years How much will she pay back to the bank

125 x 5.2 x 4 = 2600 + 12500 ie 15100 in total

Which Involves renting a residence for a specific amount of time such as six months one year or even five years

lease

How does spillage occur

classified information is entered unto unclassified information

Which of these in not one of the four elements of a monthly mortgage payment

Utllities, a+ colt york

Which government official is responsible for determining the amount of property tax a homeowner must pay

Your local property assessor is responsible for determining the assessed value each time your property (real estate or personal property) is reassessed. Depending on there you live, this may be a city property assessor or county assessor. Sometimes one assessor values personal property (cars, business and industrial equipment) and another values real estate (homes, townhomes, condominiums, commercial and industrial properties. some cities and counties reassess very year while others reassess less frequently.

However, the amount that you pay in property taxes is a product of multiplying the most recent assessed value by the personal property tax rate or real estate tax rate. These rates of taxation are set by the city council or county board of commissioners as part of their budget process each year. Your local assessor does not set the tax rate. To find out more talk to your local assessor.

Which of these should represent the smallest portion of your budget

mis

Which type of mortgage typically offers low rates for an initial period of time after which the entire balance is due
What can you expect the down payment on a mortgage loan to be

from 10% to 40% of the selling price of the home

Which of these does not describe a total consumption budget

it is designed to reach short-term goals

Which type of mortgage is designed so that payments remain the same throughout the life of the loan

fixed-rate mortgage

What e is not likely to be found on a lease agreement

The cost of insurance. A+

If Cameron has a 21 annual interest rate on his credit card what is his monthly interest rateAsk us anything

1.75%. A+

What defines the term amortization

the process of decreasing the amount of principal on a loan over a scheduled period of time

When This is the monthly budget for the reed family. What percentage of expenses is spent on utilities

Divide the utility expense by the monthly budget. Multiply the result by 100.

Which of the following is the best description of a consumer good

It is something tangible that can be touched or carried

Which of these is an example of a variable expense

Utilities

Hank purchased a new grill for $349 on his credit card. He had a previous balance of $225.91. A finance charge of $8.62 was assessed. What is his new balance

583.53

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