Taxes
Does everyone pay the same percentage in sales tax?
Yes.
Name one positive of renting...
You do not pay repairs.
How many legs does a spider have?
8
Name one negative of homebuying....
You pay repairs.
What is an asset?
Something you own that is building you equity.
Name a public service that tax money pays for...
Schools, law enforcement, roads...
Name one negative of renting...
You do not build equity.
What force keeps planet in orbit?
Gravity
What is the typical range of a down payment?
3-20%
What does the economy run on?
Goods and services
People who make more money pay more/less in taxes?
More
What is a typical lease length?
about 1 year
What is the largest planet in our solar system?
Jupiter.
Who normally pays the closing costs?
Seller
What do we call money earned from a job?
Income
What % is sales tax?
Around 7%
Do you have a down payment when you rent?
No. If you do you should get it back when you move out.
How many bones are in the human body?
206
What does PITI stand for?
Principle, Interest, Taxes, Insurance
What do we call the amount fo a product people want to buy?
Demand
What good might have an excise tax?
Alcohol, cigarettes, plane tickets...
Why might you want to rent?
Easy to move
What type of cells fight off infection?
White blood cells
What is a downside of refinancing?
Restart you 30 years.
What do we call buying something from another country?
Import