Research Project Stuff

This link takes you to the provincial government's outcomes, re: Research Project Expectations. Your project needs to be unique, personal, mathematical, & specifically sharable with the rest of the world. I.e. you will be publishing it to the web in some fashion.

Read the requirements.... here

You'll have to navigate inside the .pdf file to the part that talks about the learning outcomes for RESEARCH PROJECT, specifically.

Watch This Some Time...

Test Today

* Show work for full marks.

* New Formula:

Equity = Value of House - Unpaid Balance

Effective Annual Interest Rate Calculator

For those of us who dont know how to calculate effective annual interest rates, some nice person made a calculator for us!

Effective Annual Interest Rate calculator

Lower on the page the formula for finding effective rate is stated as;

r = [ (1+i/n)^n ] - 1

so if you had a nominal rate of 11% being compounded semi-annually, your formula would be [(1+.11/2)^2]-1 which equals .113025, which when multiplied by 100 is 11.3%.

Case Study #1 & #2

Today in class Mr.Max went over case studies 1 & 2 with us to show how to do them properly.

Leasing vs. Buying

Today we learned what a lease is, the difference between lease and purchase deals, and also the advantages and disadvantages of leasing and buying.

Heads Up!

For those of you whom are working on accelerated math this is a helpful video for knowing how to do effective annual interest and nominal interest!

Gross Debt Service Ratio

Today we learnt about GDSR, Or Gross Debt Service Ratio

Basically, it answers the question "Can I afford to live here?"

It is a measure of financial well being only associated with housing

GDSR formula is GDSR = (Monthly Mortgage + Monthly Heating Costs + Monthly Property Tax) divided by ( monthly Gross household income) then you multiply all that by 100.

Your GDSR should NEVER exceed 32%

Mr. Max gave us an assignment to find out whether or not John can afford to buy a home, what the cost of the most expensive home he should be shopping for is, and, if he buys this home, how much interest he'd pay in the first year.

He also gave us a second case study, which is to do question #14 on the handout he gave us earlier.

Reminder: We have a test Tuesday

What we do.

Today we learned how to calculate our Financial "goodness" or "Well Being" and the different values that effect it.

Our "Net Worth" which is how much you have or are worth after deductions. The two things that govern it are your assets(your positive or how much you have) and your liabilities (the negative or how much you owe).

The second factor that effects your Financial Well Being is your Debt/Equity Ratio, see below for the equation. The major thing to remember about this lesson is that your debt equity ratio should not be more than 50%.

The third and last thing that effects your Financial Well Being is your ability to get the bank to give you money, which is called your Credit Rating. Which means how well and how often you pay your bills.

Our assignment is to use the information we gained during the class to get "Sammy's" Finnacial Well Being.

Where Are The Numbers?....James says.....

TVM Solver Help

http://staff.argyll.epsb.ca/jreed/calculator/ti83p/TMV.htm

Here is a link to a few examples to help with the T-83 TVM Solver.

Personal Finance Review

Today in class we corrected question number 2 on the personal finance review booklet. We worked through 2a-2e. We first used the TVM solver on the calculator, followed by learning how to use excel. We made a spread sheet that, an old bank worker from the past wishes he had. Homework for weekend! On the internet find links for stuff that does the same thing we learned today.(TVM Solver, Excel Spreadsheet like) Figure it out. Here are the notes from today ladies and gents-

Math Rules

Binary

There are 10 kinds of people in the world. Those who understand binary, and those who do not.

The Awesome Log Guy from YouTube

Escalator Post

The moral is?.....please respond below as a comment. I'd like to gauge interest in what we talked about as formative assessment....