Posted by Phoebe on Monday, May 6, 2013 at 7:10pm.
PLEASE HELP ME ASAP!!!!!!!!!!!!
32. Which is not a horrible mortgage option?
c. Reverse mortgage
I answered c and I am not sure if that is right or not.
33. Why do you plan for retirement instead of relying on Social Security to take care of you?
a. Monthly Social Security benefits are not going to be enough to live on comfortably.
b. You aren't depending on someone else to take care of you.
c. The system may not be able to pay promised benefits in the future.
d. All of the above
I answered d is that right or not.
35. Which is a type of insurance to avoid?
a. Long-term care insurance
c. Identity theft insurance
d. Disability insurance
I answered c.Is that right?
37. What is the difference between gross pay and net pay?
a. Gross pay is before taxes; net pay is after taxes.
b. Gross pay is after taxes; net pay is before taxes.
c. There is no difference between the two.
d. The difference is determined primarily by your current tax bracket.
I answered a. Is that right?
40. Which is an advantage of taking a 15-year mortgage vs. a 30-year mortgage?
a. The monthly payments are slightly higher.
b. The monthly payments are lower.
c. The difference you save in interest is significant.
d. There is a tax advantage with a 15-year mortgage.
I answered d.Is that right?
- Personal Finance - Ms. Sue, Monday, May 6, 2013 at 7:24pm
32, 40 are wrong
The other two are correct.
- Personal Finance - Phoebe, Monday, May 6, 2013 at 8:02pm
- Personal Finance - Ms. Sue, Monday, May 6, 2013 at 8:08pm
32 is right now. 40 is not.
- Personal Finance - Phoebe, Monday, May 6, 2013 at 8:13pm
Is 40 c then?
- Personal Finance - Phoebe, Monday, May 6, 2013 at 8:20pm
Never mind I went to the website you gave me and found the answer to be a.
- Personal Finance - Phoebe, Monday, May 6, 2013 at 8:21pm
Thanks so much for your help Ms. Sue. I really appreciate it.
- Personal Finance - Ms. Sue, Monday, May 6, 2013 at 8:24pm
40 is c.
- Personal Finance - Phoebe, Monday, May 6, 2013 at 8:43pm
Could you please make sure that the answer for this question is right?
44. You are ready to buy a home under the following conditions:
a. You have a good paying job and you have worked there for three years
b. You have an emergency fund
c. You have at least 10% down
d. Both b and c
I answered d the first time because I doubted myself I changed my answer to a.
- Personal Finance - Ms. Sue, Monday, May 6, 2013 at 8:47pm
I don't know. However, we bought our first home 50 years ago when we had just gotten our teaching jobs. My grandson bought his first home when he had just moved from out of state and had just gotten a job.
Based on that, I'll vote for d.
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