Decide whether the following statement is true or false. Explain your reasoning. The federal deficit can easily be eliminated through cuts to discretionary spending.

Considering the following loans. a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. b. How many total payments does the loan require? What is the total amount paid over the full term of the loan? c. Of the total amount paid, what percentage is for the principal and what percentage is for interest? You borrowed $\$ 15,000$ at an APR of $9 \%$, which you are paying off with monthly payments of $\$ 190$ for $10$ years.

Decide whether the following statement is true or false. Explain your reasoning. Assume $2017$ tax rates and policies My husband and I paid $\$ 5000$ in mortgage interest this year, but we did not get a tax benefit from it because we took the standard deduction.

Decide whether the following statement is true or false. Explain your reasoning. Assume $2017$ tax rates and policies When I calculated carefully, I found that it was cheaper for me to buy a house than to continue renting, even though my rent payments were lower than my new mortgage payments.

Decide whether the following statement is true or false. Explain your reasoning. Because Social Security is an entitlement program and is funded by mandatory government spending, I know it will be there when I retire in $40$ years.

Considering the following loans. a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. b. How many total payments does the loan require? What is the total amount paid over the full term of the loan? c. Of the total amount paid, what percentage is for the principal and what percentage is for interest? You borrowed $\$ 120,000$ at an APR of $6 \%$, which you are paying off with monthly payments of $\$ 1013$ for $15$ years.

Decide whether the following statement true or false. Explain your reasoning. I bought a fund advertised on the Web that says it uses a secret investment strategy to get an annual return twice that of stocks, with no risk at all.

Compute the total cost per year of the following pair of expenses. Then complete this sentence for each pair: On an annual basis, the first expense is__________ $\%$ of the second expense. Maria spends $\$ 25$ every week on coffee and $\$ 150$ per month on food.

Decide whether the following statement is true or false. Explain your reasoning. My bank paid an annual interest rate (APR) of $5.0 \%$, but at the end of the year, my account balance had grown by $5.1 \%$.

Decide whether the following statement is true or false. Explain your reasoning. No bank could afford to pay interest every trillionth of a second because, with compounding, it would soon owe everyone infinite dollars.

Decide whether the following statement true and false. Explain your reasoning. Fixed rate loans with $15$-year terms have lower interest rates than loans with $30$-year terms, so it always makes sense to take the $15$-year loan.

Decide whether the following statement true or false. Explain your reasoning. I'm hoping to withdraw money to buy my first house soon, so I need to put it into an investment that is fairly liquid.

Decide whether the following statement makes sense or not. Explain your reason I bought the health insurance policy with the lowest monthly premiums because that's sure to be the best option for my long-term financial success.

Decide whether the following statement is true or false. Explain your reasoning. Assume $2017$ tax rates and policies The $\$ 1000$ child tax credit sounds like a good idea, but it doesn't help me because $1$ take the standard deduction rather than itemizing deductions.