T/F: like corporations, we can consider ourselves as having a personal balance sheet". On our personal balance sheet, Equity" would be defined as Assets Liabilities. It would also be our Net Worth. a) TRUE b) FALSE T/F: to buy a home, the lender (a bank) will normally not loan you the entire purchase price. They will usually require you to put up cash for a % (10%, 20%) of the purchase price. This is known as the Down Payment". a) TRUE b) FALSE T/F: there are many costs involved in buying or selling a home. Two of these are Closing Costs (legal and registration expenses) and Broker Commission. The Broker Commission is usually paid by the home buyer. a) TRUE b) FALSE Select the two true statements about home price appreciation over the last 45 years. a) From 1975-1995, national average home prices b) From 1975-1995, national average home prices rose at 6% per year. rose at 10% per year. c) From 2000-2005, national average home prices d) From 2000-2005, national average home prices rose at 6% per year. rose at 10% per year