Loans Day 2 Practice
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Last updated over 1 year ago
12 questions
1
Cosmo and Wanda decide to buy a house.Cosmo due to a fair credit score is offered an interest rate of 4.11%.They plan to take out a $400,000, 30-year loan to buy a house in Milton.
How much money will Cosmos monthly payment be?
Cosmo and Wanda decide to buy a house.
Cosmo due to a fair credit score is offered an interest rate of 4.11%.
They plan to take out a $400,000, 30-year loan to buy a house in Milton.
How much money will Cosmos monthly payment be?
1
How much money will Cosmo ultimetly pay back on his loan?
How much money will Cosmo ultimetly pay back on his loan?
1
Wanda due to an excellent credit score is offered an interest rate of 2.52%.They plan to take out a $400,000, 30-year loan to buy a house in Milton.
How much money will Wandas monthly payment be?
Wanda due to an excellent credit score is offered an interest rate of 2.52%.
They plan to take out a $400,000, 30-year loan to buy a house in Milton.
How much money will Wandas monthly payment be?
1
How much money will Wandas end up paying back on her loan?
How much money will Wandas end up paying back on her loan?
1
How much money will they save by having Wanda take out a loan rather than Cosmo?
How much money will they save by having Wanda take out a loan rather than Cosmo?
1
Cosmo and Wanda decide to buy a house.Cosmo due to a fair credit score is offered an interest rate of 4.11%.They plan to take out a $400,000, 15-year loan to buy a house in Milton.How much money will Cosmos monthly payment be?
Cosmo and Wanda decide to buy a house.
Cosmo due to a fair credit score is offered an interest rate of 4.11%.
They plan to take out a $400,000, 15-year loan to buy a house in Milton.
How much money will Cosmos monthly payment be?
1
How much money will Cosmo ultimetly pay back on his loan?
How much money will Cosmo ultimetly pay back on his loan?
1
How much will he save by taking a 15 year loan rather than a 30 year loan? (HINT use your answer from #2)
How much will he save by taking a 15 year loan rather than a 30 year loan? (HINT use your answer from #2)
1
Wanda due to an excellent credit score is offered an interest rate of 2.52%.They plan to take out a $400,000, 15-year loan to buy a house in Milton.How much money will Wandas monthly payment be?
Wanda due to an excellent credit score is offered an interest rate of 2.52%.
They plan to take out a $400,000, 15-year loan to buy a house in Milton.
How much money will Wandas monthly payment be?
1
How much money will Wanda ultimetly pay back on this 15 year loan?
How much money will Wanda ultimetly pay back on this 15 year loan?
1
How much will she save by taking a 15 year loan rather than a 30 year loan? (HINT use your answer from #4)
How much will she save by taking a 15 year loan rather than a 30 year loan? (HINT use your answer from #4)
1
Why might someone want to take out a 30 year loan rather than a 15 year loan? Use vocabulary such as monthly payment in your answer
Why might someone want to take out a 30 year loan rather than a 15 year loan? Use vocabulary such as monthly payment in your answer