Why does the fact that she might not like living in California make someone think renting a home is better than buying one?(1 point)
Responses
She cannot immediately come up with the large down payment required to buy a house.
She cannot immediately come up with the large down payment required to buy a house.
She expects mortgage rates to go down in the next year or two. (That has nothing to do with whether she likes
She expects mortgage rates to go down in the next year or two. (That has nothing to do with whether she likes
She does not want to pay property taxes to support a place she might not like living in.
She does not want to pay property taxes to support a place she might not like living in.
If she decides to move, she will not have to deal with selling her home.
If she decides to move, she will not have to deal with selling her home.
If she decides to move, she will not have to deal with selling her home.
Which of the following is a disadvantage of renting over buying a home?(1 point)
Responses
With each new lease, your rent can go up.
With each new lease, your rent can go up.
You must also pay thousands of dollars for things such as property taxes.
You must also pay thousands of dollars for things such as property taxes.
You will have fewer hassles when you decide to move.
You will have fewer hassles when you decide to move.
If something breaks, you have to fix it or pay to have it fixed.
If something breaks, you have to fix it or pay to have it fixed.
Which of the following is an advantage of leasing over buying a car?(1 point)
Responses
Leasing is nearly always less expensive than buying.
Leasing is nearly always less expensive than buying.
You are always driving a new car, which has the latest safety features.
You are always driving a new car, which has the latest safety features.
You can sell the car whenever you want.
You can sell the car whenever you want.
When the lease ends, you do not have a car.
When the lease ends, you do not have a car.
John needs a new dishwasher and buys it from a store because they had a financing special that offered no interest charges for 12 months. What will the store do if he doesn’t pay the entire amount off in that time?(1 point)
Responses
It will begin assessing interest on whatever remains to be paid at that point.
It will begin assessing interest on whatever remains to be paid at that point.
It will repossess the dishwasher.
It will repossess the dishwasher.
It will cancel the service contract on the dishwasher.
It will cancel the service contract on the dishwasher.
It will charge him all the interest that would have accrued over the year.
It will charge him all the interest that would have accrued over the year.
José wants to buy a new large screen TV. The electronics store has a special on the model he wants and offers same-day delivery if he uses his store rewards card. An online retailer is offering the same model, and if he uses their credit card, he can get 10% off. Why might José have decided to buy from the electronics store when the same TV is available for less money from the online retailer?(1 point)
Responses
The one from the online retailer was of higher quality.
The one from the online retailer was of higher quality.
José likes paying extra money.
José likes paying extra money.
He was worried that the TV would get lost in the mail.
He was worried that the TV would get lost in the mail.
He wants to get the rewards, and he did not want to open another credit card
He wants to get the rewards, and he did not want to open another credit card.
The reason why the fact that she might not like living in California makes someone think renting a home is better than buying one is because of several factors:
1. She cannot immediately come up with the large down payment required to buy a house. Buying a house typically requires a substantial down payment, which can be a financial hurdle for some. Renting allows her to avoid this upfront cost.
2. She expects mortgage rates to go down in the next year or two. If she believes that mortgage rates will decrease in the near future, it may be more advantageous to wait and rent until the rates are more favorable for homebuying.
3. She does not want to pay property taxes to support a place she might not like living in. When buying a home, she would be responsible for property taxes, which contribute to the local community and infrastructure. If she is uncertain about her long-term plans in California, renting would allow her to avoid these ongoing financial obligations.
4. If she decides to move, she will not have to deal with selling her home. Renting offers more flexibility and allows her to easily relocate without the hassle of selling a house. This can be particularly beneficial if she has uncertainties about her future in California or wants the freedom to explore different living options.