Renting vs.
Owning
Owning
Purchasing a New
Home or Car
Home or Car
Insurance
Other Cost
Coach Hensley
100
On your weekly beach trip, you decided to rent a car while you are there. The daily cost of the car is $45.95 day with a cost of $0.25 per mile. if you ended up renting the car for a total of 5 days and drove 865 miles and you paid $86.50 for gas what is a) the total cost to rent the vehicle and b) the cost per mile?
A)( $45.95*5)+ ($0.25*865)+$86.50 = $532.50
B) 532.50/865=$0.61
100
Jackie Kessel has found a home she would like to purchase. The seller accepts her offer of $210,900. Jackie will make a down payment of 15%. What is the amount of her mortgage loan?
$179,265
100
Molly Pierce’s annual base premium is $1,175.80 and her driver-rating factor is 1.5. What is her annual premium?
$1,763.70
100
Mike Shepherd purchased a new sedan. He paid $28,905.50 for the car’s base price and a $164.00 destination charge. The car’s options, a sunroof and air-conditioning, cost $3,609.00. What is the sticker price?
$32,678.50
100
What is sport did Coach Hensley Play in college?
Football
200
Lisa Berry plans to rent an apartment for $1,090 per month. She estimates the annual expense will be as shown on the chart below. What is her average monthly cost?
$1,546.25
200
Adam Wilcox is purchasing a home for $189,000. The bank is willing to finance the purchase if Wilcox can make a down payment of the selling price. How much money will he need for the down payment?
$47,250
200
Use Figure 9.2. Amy Miller’s insurance policy includes 25/100 bodily injury limits and $25,000 property damage. Her vehicle is in age group B and insurance rating group 14. She has a $50 deductible comprehensive and $50 deductible collision insurance. Miller’s driver-rating factor is 2.4. What is her annual premium?
$745
200
Paula Brock wants to purchase a four-year-old V6 sedan 4-door, which is advertised at $11,925. The car has no air-conditioning and no power seats. It has been driven 49,000 miles. The used vehicle guide does not indicate any adjustment for this car’s mileage. What is the average retail price for this vehicle?
$10,975
200
True or false
Coach Hensley worked on a farm?
True
300
Tina Avallone and her husband are buying a $219,000 home. Their annual housing expenses are: mortgage payments, $15,400; real estate taxes, $3,600; annual homeowner’s insurance premium, $1,895; maintenance on the home, $3,200; and utilities, $3,980. The lost interest on the down payment is $1,001 and the tax savings is $1,976. What is their average monthly expense?
$2,258.33
300
Dario Canseco’s variable automobile costs for last year were: gasoline, $1,993.83; oil and filters, $230.90; and a new tire, $89.76. Insurance cost $1,201.20, registration was $120.25; and the loan interest totaled $389.06. Canseco drove about 12,560 miles. What was the cost per mile for Canseco to operate his vehicle last year?
$0.32
300
Use Figure 9.2. Clive Williams is the principal operator of his vehicle. His driver-rating factor is 2.8 and his car is in age group D and insurance-rating group 11. The coverage he wants to purchase is 50/100 bodily injury and $100,000 for property damage. He would also like to have a $50 deductible for both comprehensive and collision. What is his annual base premium?
$1,825.60
300
Dan Miller has been granted a $120,000 mortgage loan. When signing the papers to purchase his new home, he will need to pay the closing costs shown below. What are the total closing costs?
$5,765
300
Which does Coach Hensley like better.
Playstation or Xbox
Playstation
However I have owned both systems
400
Bart Carroll rented a car for four days at $40 per day, plus $0.22 per mile. In case he was involved in an accident, he purchased the collision deductible for $11 per day and paid $42 for gasoline to cover the 520 miles he drove. What was the total cost per mile for Bart to rent the car?
$0.69
400
Nate Shermach found a two-year-old luxury car advertised for $31,175. Its average retail value is $30,850. It has aluminum alloy wheels valued at $300 and a theft recovery system valued at $75, but it does not include a CD player, which is valued at $100. The car has been driven 47,005 miles. The used-vehicle guide indicates that if the car’s mileage is between 46,000 and 51,000 miles, $700 should be deducted. What is the average retail price for this vehicle?
$30,425
400
Melissa Doubet’s home is insured for 90% of its replacement value of $94,000, or $84,600. Use the chart below to determine the amount of coverage for her personal property.
$50,760
400
Amanda Wolpert’s home in Richmond, Virginia, has an assessed value of $74,200. The tax rate where she lives is 25.13 mills. What is her annual real estate tax?
$1,864.65
400
What number do you get when you multiply all of the numbers on a telephone’s number pad?
Zero, because any number multiplied by 0 will always equal 0.
500
Dupree Jacobs is looking for a house to buy. He currently rents an apartment for $1,000 per month. He finds one with a $22,000 down payment and learns his mortgage payment would be $700 per month. He estimates his housing and rental expenses as shown below. Is it less expensive for Dupree to buy or rent a home?
It would be less expensive to rent.
500
Roberta Hockenberry’s new car has an MSRP of $28,902.11 including title and processing fees. The Premier Package which includes surround sound and DVD player costs three times the amount of the In-Style Package which includes leather seats and select wheels. The total cost of her new car was $34,290.08 which included the 6.5% sales tax. Find the cost of the Premier Package and the In-Style Package.
Premier Package: $823.79
In-Style Package: $2,471.37
500
Dave Amata and his family purchased a new home that has an estimated replacement value of $275,000. They want to insure their home for 85% of its replacement value. What is the amount of coverage on their home?
$233,750
500
Victoria Santos recently leased a new convertible. The $1599 due at signing includes the title and license fee. Her monthly lease payments are $700 per month. The leasing company allows 12,000 miles per year with a $0.12 per mile overage charge. If the total lease cost is $26,800, for how many months does the lease last?
36
500
How many times does the long hand of the clock pass the short hand between midnight one day and midnight the following day? As both hands are together at the starting time of midnight this does not count as a pass.
21