Which of the folloiwng is NOT an advantage of buying a house

You have to pay for more than the mortgage

Examples of investing include all of the following except

putting money into a checking account

the amount you pay on a loan before interest starts

A down payment is important because

the higher the down payment the less you will pay in interest

purchasing assets with the goal of increasing value over time

The rule of 72 involves which of the following

calculating how long it will take to double your money

the fee a lender charges a borrower

when the price of goods go up, so the value of your money goes down

allows you to buy now, and pay later

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End of Unit 6 Quiz Review

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Questions 13

Answers

1
A Debit card is linked directly to your bank account.
False
True
2
All of the following are advantagaes of renting except
You can easily move when your lease is over
You can save money
Your rent can go up
When something breaks your landlord fixes it
3
Which of the folloiwng is NOT an advantage of buying a house
You can use your home as an investment
Can build up equity/value of your home
You can remodel at anytime
You have to pay for more than the mortgage
4
Examples of investing include all of the following except
buying rental properties
putting money into a checking account
buying bonds
buying stocks
5
"Liquid" in finance means that you can easily get your money when needed.
False
True
6
A downpayment is
the amount you use to finish paying off a loan
the amount you pay in interest
the amount you owe a car company
the amount you pay on a loan before interest starts
7
A down payment is important because
the lower the down payment the less you will pay in interest
the higher the down payment the less you will pay in interest
8
Investing involves
using all money in savings accounts
purchasing assets with the goal of increasing value over time
only investing in high risk situations
9
The rule of 72 involves which of the following
calculating how long it will take to triple your money
calculating how long it will take to double your money
10
Interest is
the amount of money on a mortgage loan
the amount of money on a car loan
the fee the borrower charges a lender
the fee a lender charges a borrower
11
Inflation is
when you can predict the stock market
when you invest in rental properties
when money is worth nothing
when the price of goods go up, so the value of your money goes down
12
Financial Literacy is the ability to understand and use skills like financial management, budgeting, and investing
False
True
13
A credit card
deducts money directly from your bank account
allows you to not pay back any interest
allows you to buy now, and pay later
reduces your chances of going into debt

End of Unit 6 Quiz Review Flashcards | StudBud