1. A house is purchased for $205,000, and a down payment is made for 20% of the purchase price, is made. Calculate the mortgage balance.

$41,000
$246,000
$164,000
$245,900
2. With a fixed-rate mortgage, the monthly mortgage payments fluctuate according to the market for interest rates.

True
False
3. The annual property tax on a $230,000 home is $5,200. Calculate the monthly property tax.

$4,766.67
$433.33
$5,200
$256.71

Question

1. 	A house is purchased for $205,000, and a down payment is made for 20% of the purchase price, is made. Calculate the mortgage balance.
 		
	$41,000
	$246,000
	$164,000
	$245,900
2. 	With a fixed-rate mortgage, the monthly mortgage payments fluctuate according to the market for interest rates.
 		
	True
	False
3. 	The annual property tax on a $230,000 home is $5,200. Calculate the monthly property tax.
 		
	$4,766.67
	$433.33
	$5,200
	$256.71

phagey · Answer

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