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Loan Horror Escape Room

Colette Remy

Created on September 25, 2024

Financial Lit Unit 2

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Transcript

Loan Horror

Horror Escape room

START

Introduction

"A ghost is trapped in this house, doomed to wander it until it regains all its memories. To help it find them, you must first overcome all the challenges and collect the missing objects in your inventory. Explore the house and try not to gettrapped yourself…"

Explore the house

Inventory

01

What is the total number of payments on my car loan if I took out 30,000 for 7 years

84

60

02

If my car payments were 350.00 a month for 5 years, how much would I be paying for the car?

1,750

21,000

29,400

03

Your Gross income is $3,000 a month and you are trying to qualify for a house payment of $850. Pick the best option

I will qualify using both the 25% method and the 30% method.

I will qualify using the 30% method only.

I won't qualify for this payment.

04

I just bought a new car and paid $19,500. I have a 5 year loan with payment of $450. What is the total interest I will pay for this car?

$7,500

$27,000

$4,333

This is not correct...

Find the key to continue

Continue exploring the house

Inventory

01

What is the total amount I will pay for my house that cost $250,000 financed for 20 years with payments of $1,400 per month?

$336,000

$86,000

$1041.67

$28,000

02

I make a payment of $500 for 6 years, what is the total cost of the loan?

$36,000

$3,000

$72,000

$6,000

03

If your monthly gross income was $4,500, would you be able to afford a house payment of $1,800?

Yes, I could qualify at the 25% rate.

Yes I could qualify at the 30% rate.

Yes, I could qualify at the 40% rate.

No, I would not qualify.

04

What is the AGI, if you make $60,000 annually and pay $350 in pre-tax health insurance, 15% Federal taxes, 7.65% FICA, and 5% State?

$4650

$1312.50

$3337.50

$59,650

You found a secret message

♪♬ø

Remember these notes and play them on the piano in the correct order

01

...Keep playing

02

...One more

03

Start over...

You found a new item for your inventory

Continue exploring the house

Inventory

♪♬ø

Use the magnifying glass to search for the code and then insert it into the typewriter

224

Enter the secret code

Code

You buy a new car for $37,000 and have payments of $800 for 5 years. How much interest did you pay for your new car?

01

$616.67

$11,000

$48,000

What is one thing that will decrease the amount of interest you pay over the course of the loan?

02

Decrease the amount you put down on the loan.

Increase the time you have pay the loan.

Lower interest rate

Math of Decision Making is here to help me?

03

Understand how my decisions affect my earning

Make sure I can do the quadratic formula

Teach me how to solve exponential functions.

A briefcase has appeared...

It's locked...look in the inventory for something to open it

Congratulations

You have recovered all the memories of the ghost! Now it can finally rest and you can escape from the house!

Are you sure you want to exit?

You will lose all progress made so far...

Back

Exit

Oh, no. You failed...

Inventory

Inventory

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Inventory

Inventory

Inventory

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Inventory

♪♬ø

Inventory

♪♬ø

Inventory

Inventory

Inventory

♪♬ø

Inventory

Inventory

♪♬ø

Inventory

Inventory

Inventory

Inventory

♪♬ø

Inventory

Inventory

♪♬ø

Inventory

♪♬ø