Owning Provides _________ Flexibility but Can Lead to _________ Costs in the Long-term
We thoroughly check each answer to a question to provide you with the near correct answers. Found a mistake? Let usa know nigh information technology through the REPORT button at the lesser of the page.
Terms to learn: EverFi answers renting vs owning
The biggest factor in determining the price of a mortgage is:The total cost of the home.
The down payment.
The interest charge per unit.
The lender.
The full cost of the home.
All of the following components are commonly institute in rental housing agreements EXCEPT:Whether the renter can have pets in the house
How much the renter will pay
What type of renter'southward insurance the renter must buy
Which repair types the renter volition exist responsible for
What type of renter'south insurance the renter must purchase
What is a mortgage?A type of rent used to pay for housing
A type of loan used to purchase property
A measure of the value of a home
A measure of your credit rating
A type of loan used to buy property
Which best describes the benefits of renting a domicile?Renting can cost more upfront.
Renting is less flexible than owning a abode.
Renting has a lease that toll money to break
None of the in a higher place
Jim wants to buy a car, but he'll probably only demand information technology for a couple of years. He has a brusk commute to work, then he won't be putting many miles on his vehicle. What'southward the best transportation selection for Jim?Use his savings to buy the car in total
Buy the car using an car loan
Charter the motorcar
Take public transportation
Lease the car
Someone may choose to own a car instead of leasing because:The car can be resold subsequently to make some coin back.
The car can exist resold after for a higher price.
The maintenance costs for a leased motorcar are generally college.
The insurance costs for a leased car are higher.
The car can be resold later to make some money back.
Which of the following will touch the size of your monthly mortgage payment?The size of your down payment
The length of your mortgage
The purchase price of your house
All of the in a higher place
A typical housing lease may require a tenant to:Repair certain types of impairment to the property
Buy renter'due south insurance for the property
Avoid participating in illegal activity on the property
All of the to a higher place
Typically homes ___________ over time and cars ______________ over fourth dimension.
appreciate ; depreciate
A _________ is more often than not considered an affectionate nugget considering it may _________ in value over time.
firm ; increment
Renting provides _________ flexibility but tin can atomic number 82 to _________ costs in the long-term.
greater ; college
Which of the following statements is right?Cars typically lose the most value in the first yr after purchase.
Houses will always appreciate in value over the long-term.
Both
Neither
Cars typically lose the virtually value in the commencement year after purchase.
Which combination of factors would result in the lowest monthly mortgage payment?Big down payment, a longer term loan, and low interest rate
Big downward payment, a shorter term loan, and loftier interest rate
Small down payment, a shorter term loan, and high involvement rate
Pocket-sized down payment, a shorter term loan, and small interest rate
Big down payment, a longer term loan, and low interest rate
Depreciating assets:
Become less valuable over fourth dimension
Which of the following statements about renting & owning is Right?
Both the renter and the possessor share responsibility and command over the holding.
John would like to motion from the suburbs into the city, but the hire in the city is very high. John has institute an apartment he actually likes, but he can only beget about 60% of the monthly rent. What is the all-time housing selection for John?
Rent it with a roomate
Owning provides _________ flexibility simply tin pb to _________ costs in the long-term.
less ; lower
Which of the following is Non a price typically associated with owning a car?
Clothing and Tear fees
John would like to move from the city into the suburbs and has been saving upward a large downwardly payment for a habitation. Which is the almost price effective way for John to buy a house in the suburbs?Finish the term of his apartment lease in the metropolis and find a new dwelling house to purchase simultaneously.
Motion to the suburbs and rent a house for one year before purchasing a habitation.
Break his lease in one case he has bought the perfect home.
Break his lease and move to the suburbs immediately without identifying a home to buy.
Finish the term of his flat lease in the urban center and observe a new home to purchase simultaneously.
What is a lease?
A contract outlining the terms under which a landlord agrees to rent holding to a tenant.
Jim is in the market place for a car that will last for the next ten years and has saved upward some money for the purpose of a auto. What's the best transportation selection for Jim?
utilizing his saving as a down lay,cyberspace and ownership the car using an machine loan
Renting vs. Buying a Habitation: The 5% Rule
In a free gild, it's important to be self-reliant. No one can expect a tenant to go away on their ain, so the best way to do things in our society is to rent ourselves out. That means we pay someone money to provide all or function of our daily living needs, similar a landlord in this example.
How much do you demand to rent your own home? Let'due south expect at the "cost of living" in America's nigh populous state, California.
Source: https://quizzma.com/everfi-renting-vs-owning-quiz-answers/
0 Response to "Owning Provides _________ Flexibility but Can Lead to _________ Costs in the Long-term"
Post a Comment