Mathematics

11th -

12thgrade

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7.3A Mortgage Payments & Escrow Worksheet

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  • 1. Multiple Choice
    15 minutes
    1 pt

    1a. The Jacobs family is planning to buy a home. They have some money for a down payment already. They see a home they like and compute that they would need to borrow $213,000 from a bank over a 30-year period. The APR is 6.75%. What is the monthly payment?

    $2,130

    $1,381.51

    $2,295.16

    $3,004.84

  • 2. Multiple Choice
    15 minutes
    1 pt

    1b. The Jacobs family is planning to buy a home. They have some money for a down payment already. They see a home they like and compute that they would need to borrow $213,000 from a bank over a 30-year period. The APR is 6.75%. What is the total of all of the monthly payments over the 30 years?

    $379,337.24

    $413,572.88

    $352,663.05

    $497,343.60

  • 3. Multiple Choice
    15 minutes
    1 pt

    1c. The Jacobs family is planning to buy a home. They have some money for a down payment already. They see a home they like and compute that they would need to borrow $213,000 from a bank over a 30-year period. The APR is 6.75%. What is their total interest for the 30 years?

    $178,008.62

    $98,452.16

    $284,343.60

    $311,098.50

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