If there is not enough equity then you would need to put a down payment for the blended mortgage amount needed to close your new home purchase.

Powered by

28. which is not one of the credit reporting agencies? (1 point) experian transunion equifax transmeridian 29. a very low credit score usually means you will get what? (1 point) declined for loans low interest rates low finance charges high available balances 30. credit that is applied for once, and then is available until the consumer defaults or closes the account is called what type of credit? (1 point) revolving credit charge credit income credit department credit 31. what is not considered when calculating a credit score? (1 point) personal income payment history credit history length of credit history 32. when two sellers trade items without exchanging currency it’s called what? (1 point) negotiating bartering financing economics 33. what was the earliest form of currency called? (hint: china around 1200 b.c.) (1 point) leather cards sea shells cowry shells wooden coins 34. the first international form of currency policy to control inflation was called the what? (1 point) world trade organization north american free trade agreement gold standard european trade standard 35. if a computer is on sale for $1,099.10 and there is an additional 15% off at the register, what will the total cost be? (1 point) $934.24 $1,263.96 $974.88 $988.45 36. the abbreviation fico stands for what? (1 point) fraud-index corporation fair-index corporation fair-issac corporation fraud-issac corporation 37. when someone leases a car, who owns the title to the automobile? (1 point) the automobile manufacturer the financing bank the automobile dealership the driver 38. what part of a personal budget should be the largest expense? (1 point) spending money savings housing insurance 39. when a company hires an employee, what does the company expect from the employee? (1 point) expenses productivity purchasing power income 40. the amount of products or services that someone can buy with the amount of money they have is called what? (1 point) personal purchasing power purchasing power parity consumer price index value power 41. banks make money by charging borrowers what? (1 point) late payment fees interest rates financing charges all of the above 42. the money you pay to keep an insurance policy in effect is called a what? (1 point) deductible co-pay premium expense 43. the money you borrow from a bank or any other lender is called what? (1 point) principal investment interest equity 44. your credit score determines whether or not you what? (1 point) are approved or denied a loan are given a high or low interest rate are approved or denied a credit card all of the above 45. the loans that individuals take out to continue their education are called what? (1 point) educational loans student loans optional loans deferred loans 46. which of the following is not considered a small ticket item? (1 point) a toaster an automobile a pack of gum a cup of coffee 47. when an asset such as a home or a car decreases in value over a long period of time it’s called what? (1 point) decay depreciation appreciation neglect 48. charge cards differ from credit cards in what ways? (1 point) they require you to pay the full balance at the end of the billing period they don’t allow you to make cash advances they don’t accept balance transfers all of the above 49. the marketing offers provided by credit card companies are called membership __________? (1 point) bonuses benefits incentives gimmicks 50. if you have $2,000.00 on a credit card and the interest rate is 21.8% per year. how much interest will you pay for one year? (interest is compounded monthly, but to simplify your activity, just multiply it.) (1 point) $463.00 $436.00 $521.00 $400.00

I will try to answer some of these -- May use A, B, C , D for the answers. BTW --- a quick 10 points would be appreciated. 28) D. TransMeridian 29) A. Declined 30) A. Revolving 31) A. ??? Personal Income 32) B. Bartering 33) not sure 34) ?? C. Gold Standard 35) A. $934.24 36) C. Fair Issac Co 37) not sure 38) C. Housing 39) B. Productivity 40) A. ????? 41) D. All of the Above 42) C. Premium 43) A. Principle 44) D. All of the above 45) B. Student Loans 46) B An auto 47) B. Depreciation 48) D. ??? All of the above 49) B. Benefits 50) B. $436 Hope this helps.

Powered by

35. if a computer is on sale for $1,099.10 and there is an additional 15% off at the register, what will the total cost be? (1 point) * $934.24 * $1,263.96 * $974.88 * $988.45 36. the abbreviation fico stands for what? (1 point) * fraud-index corporation * fair-index corporation * fair-issac corporation * fraud-issac corporation 37. when someone leases a car, who owns the title to the automobile? (1 point) * the automobile manufacturer * the financing bank * the automobile dealership * the driver 38. what part of a personal budget should be the largest expense? (1 point) * spending money * savings * housing * insurance 39. when a company hires an employee, what does the company expect from the employee? (1 point) * expenses * productivity * purchasing power * income 40. the amount of products or services that someone can buy with the amount of money they have is called what? (1 point) * personal purchasing power * purchasing power parity * consumer price index * value power 41. banks make money by charging borrowers what? (1 point) * late payment fees * interest rates * financing charges * all of the above 42. the money you pay to keep an insurance policy in effect is called a what? (1 point) * deductible * co-pay * premium * expense 43. the money you borrow from a bank or any other lender is called what? (1 point) * principal * investment * interest * equity

I'll give you a few (these really aren't that hard). You should probably make more time to study. No offense meant. 36) Fair-Issac Corporation 38) housing 39) productivity 40) personal purchasing power 42) premium 43) principal

Powered by

The following proposal was made by one of the candidates and by bush? 1. instead of bailing out the big banks, let them fail. they sowed the seed and they must reap the harvest. 2. instead of sending the money to those big banks, how about sending the money to our smaller home town or city banks so they can loan it out to mainstreet businesses and other citizens for expansion, hiring new employees, buying a car, a new tv buying a house, home renovation, farm input expenses like tractors, trucks etc.these loans would be based on good loan practices with adequate collaterole but would be given at a low rate of interest. no sub prime loans. 3. a law would also be put into effect that all people who are caught in the sub prime problem could have their homes refinanced at the original low rate and have the length of their mortgage moved out so their monthly payments would be manageable. they would still be responsible for the entire amount that they originally borrowed but would have much longer to pay it off. they made their decision and like any good american should take responsibility for their debt...good or not. for the empty houses or for those houses that do not take the extended loan option, turn them over to the realtors and let them sell them at the current value. finally, let wall street come back by itself. if main street is happy, they will start to invest quickly to take advantage of the lower prices.

That would be my ideal candidate. I don't see that person this time around. However, Obama is the closest.