Vocabulary
Renter's Rule
Banker's Rule
Down Payment/Principal
Interest/Loans
100

The person who rent's a property to a tenant 

Landlord 

100
According to the Renter's Rule, what is the maximum monthly rent a person can afford with an annual salary of $65,000?

$1,250 a month 

100

Using the Banker's Rule, find the maximum amount that can be barrowed with the following salary: $55,000 annually. 

$137,500

100

Find the down payment for each home: cost of home= $250,000 with a 20% down payment

$50,000 

100

Find the total amount of interest: 

Principal: $406,00

Interest Rate: 4%

Time: 30 years

Interest: $487,200

200
Percent of the total cost of the home that's paid at the time of purchase 

Down Payment 

200

According to the Renter's Rule, what is the maximum monthly rent a person can afford working a full work week making $15.00?

$600 a month 

200

Using the Banker's Rule, find the maximum amount that can be barrowed with the following salary: $2,500 a month. 

$75,000

200

Find the amount of the down payment for each home: Cost of home= 100,400 with a 25% down payment 

$25,100

200

Find the total amount of interest: 

Principal: $200,300

Interest Rate: 4.5%

Time: 15 years

Interest: $135,202.50 

300

Original amount barrowed from the bank 

Principal 

300

According to the Renter's Rule, what is the maximum monthly rent a person can afford working a full work week with an hourly rate of $23.50 an hour?

$940.00 a month

300

Using the Banker's Rule, find the maximum amount that can be barrowed with the following salary: $2,500 a week 


$325,000 

300

Find the down payment and principal for each home: cost of home= $250,000 with a 20% down payment. 

Down Payment: $50,000

Principal: $200,000

300

Find the total amount of interest and mortage: 

Principal: $406,00

Interest Rate: 4%

Time: 30 years

Interest: $135,202.50

Mortgage: $337,502.50

400

A fee the bank chargers to lend money 

Interest 

400

According to the Renter's Rule, what is the maximum monthly rent a person can afford with an bi-weekly salary of $2,200?

$1,100 a month

400

Using the Banker's Rule, find the maximum amount that can be barrowed with the following salary: $3,400 bi-weekly. 

$221,000

400

Find the down payment and cost for each home: cost of home= $325,000 with a 25% down payment

down payment: $81,250 

Principal: $243,750

400

Find the total amount of interest and mortgage: 

Principal: $125,000

Interest Rate: 3.25%

Time: 20 years

Interest: $81,250

Mortgage: $206,250

500
Legal contract tenants agree to when renting a property 

Lease 

500

Your friend wants to rent an apartment for $1300. He makes $27.00 per hour. Can your friend afford to rent this apartment?

No, the maximum rent per month he can afford is $1,080. 

500

Using the Banker's Rule, find the maximum amount that can be barrowed with the following salary: $1,500 bi-monthly

$90,000

500

Find the down payment and principal for each home: cost of home= $545,000 with a 30% down payment

down payment: $163,500

principal: $381,500

500

Find the total amount of interest and mortgage: 

Principal: $165,000

Interest Rate: 5%

Time: 15 years

Interest: $123,750

Mortgage: $288,750

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