Unit 14 Review

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Unit 14

Review

Match each description with its housing term:

Involves a short period of time for the temporary use of an asset

Involves a pre-determined period of time with specific conditions and required maintenance

Involves a title of ownership with specific taxes and payments required

Leasing

Renting

Buying

Cheaper!

Which option would be more cost effective if you plan to stay for only 8 months?

vs

Apartment B costs $800/mo for an annual contract, but that includes a 2-month early termination penalty.

Apartment A costs $950/mo for a month-to-month contract.

Cheaper!

Which option is most likely to be more cost effective?

vs

Apartment B costs $625/mo with utilities included.

Apartment A costs $450/mo plus $200 for utlities.

Which has a lower cost of living, the new residence or the current residence?

Find the equity amount for each home.

You purchased for $193,000 and it is now valued at $215,000.

You purchased for $234,000 and it is now valued at $284,000.

Home #2:

Home #1:

Cheaper!

Which transportation method is more cost-effective for the year if you work 5 days a week?

vs

Taking the Bus:$7.50/one-wayNeed 2 tickets per day

Driving Yourself:Gas - $50/WeekCar Insurance - $550/YearOil Changes - $45/Quarter

Your car insurance is due annually and generally costs about $2,000. You decide that you would like to set aside a monthly amount, beginning in January, to be prepared for when this bill comes at the end of the year. How much should you set aside each month?

You are planning to rent a townhouse. Your monthly rent will be $850, and your renter's insurance will be $1,500 per year. What is the adjusted monthly cost for renting this townhouse?

Adjusted Monthly Payments

Which formula would accomplish this?

Suppose you need to rank the value from A2 in an Excel spreadsheet against the rest of column A. You want the values to be in ascending order.

=RANK(A:A, A2, 0)

=RANK(A2, A:A, 1)

=RANK(A2: A:A, 0)

=RANK(A:A, A2, 1)

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