Type:

Other

Description:

How financial institutions use the monthly mortgage payment and mortgage amortization formulas can be a confusing concept to grasp. This lesson asks students to find a current interest mortgage rate for their city and state. This rate is then applied to an Internet based mortgage calculator to discover the effect that paying extra on a monthly house payment has on total interest paid and length of the loan. A student worksheet is included in the document.

Subjects:

  • Mathematics > General

Education Levels:

  • Grade 1
  • Grade 2
  • Grade 3
  • Grade 4
  • Grade 5
  • Grade 6
  • Grade 7
  • Grade 8
  • Grade 9
  • Grade 10
  • Grade 11
  • Grade 12

Keywords:

Informal Education,Higher Education,NSDL,NSDL_SetSpec_ncs-NSDL-COLLECTION-000-003-112-106,Economics,Undergraduate (Lower Division),High School,Vocational/Professional Development Education,oai:nsdl.org:2200/20130508142840665T,Mathematics,Social Sciences

Language:

English

Access Privileges:

Public - Available to anyone

License Deed:

Creative Commons Attribution Non-Commercial Share Alike

Collections:

None
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