WARM UP Define the terms WeeklyBiweeklySemimonthlyMonthlyBimonthlyQuarterlySemiannually

WEEK Today 4-1 Today 4-1 Tom go over test Tom go over test Wed 4-2 Wed 4-2 Thursday (absent) wkst on 4-1 and 4-2 Thursday (absent) wkst on 4-1 and 4-2 Friday Quiz on 4-1 and 4-2 Friday Quiz on 4-1 and 4-2

Consumer Finance Chapter 4: Managing a Household Lesson 1: Renting a Home

4-1 VOCAB Landlord a person who owns and rents property to other people Landlord a person who owns and rents property to other people Lease a contract to rent property Lease a contract to rent property Annual Yearly; relating to a period of 12 months Annual Yearly; relating to a period of 12 months

Directions Find annual salary then divide by 52 Find annual salary then divide by 52 U should spend 1 week earnings on rent U should spend 1 week earnings on rent This saves you money for other bills and food etc. This saves you money for other bills and food etc.

I DO Calculate the maximum amount of money that should be spent on rent Calculate the maximum amount of money that should be spent on rent 1. $1300 per month 1. $1300 per month 2. $14,000 per year 2. $14,000 per year 3. $566 bi weekly 3. $566 bi weekly 4. $24,575 per year 4. $24,575 per year

You do Calculate the maximum amount of money that should be spent on rent Calculate the maximum amount of money that should be spent on rent 1. $1500 per month 1. $1500 per month 2. $32,000 per year 2. $32,000 per year 3. $820 bi weekly 3. $820 bi weekly 4. $22,456 per year 4. $22,456 per year

Directions Multiply by 40 Multiply by 40 U should spend 1 week earning on rent U should spend 1 week earning on rent

I do Find the maximum amount of money the person can spend on rent Find the maximum amount of money the person can spend on rent 1. $6.90 per hour 1. $6.90 per hour 2. $8.85 per hour 2. $8.85 per hour 3. $14.00 per hour 3. $14.00 per hour 4. $8.39 per hour 4. $8.39 per hour

We Do Find the maximum amount of money the person can spend on rent Find the maximum amount of money the person can spend on rent 1. $9.80 per hour 1. $9.80 per hour 2. $16.00 per hour 2. $16.00 per hour 3. $7.35 per hour 3. $7.35 per hour 4. $8.25 per hour 4. $8.25 per hour

Directions Multiply by 12

I DO Find the annual rent paid for each monthly rent Find the annual rent paid for each monthly rent 1. $ $ $ $ $ $ $ $248.90

You Do Find the annual rent paid for each monthly rent Find the annual rent paid for each monthly rent 1. $ $ $ $ $ $ $1, $1,275.00

REVIEW Today we learned how to calculate rental charges and amount of money spent on rent per year Today we learned how to calculate rental charges and amount of money spent on rent per year

HOMEWORK Find the maximum amount of rent aloud to spend Find the maximum amount of rent aloud to spend 1. $8,146 per month 1. $8,146 per month 2. $1,256 every two weeks 2. $1,256 every two weeks 3. $18,450 annually 3. $18,450 annually 4. $3,549 monthly 4. $3,549 monthly 5. $2,894 biweekly 5. $2,894 biweekly

WARM UP Compare and contrast renting a home vs buying a home

Consumer Finance Chapter 4: Managing a Household Lesson 2: Buying a Home

4-2 VOCAB Down Payment Part of the price paid at the time of the purchase Down Payment Part of the price paid at the time of the purchase Financed Borrowed Financed Borrowed Mortgage A property loan Mortgage A property loan Principle The amount of money loaned to a creditor Principle The amount of money loaned to a creditor Interest A payment charged to the borrower for the use of money Interest A payment charged to the borrower for the use of money

DIRECTIONS Multiply Annual salary by banker’s rule Multiply Annual salary by banker’s rule Banker’s Rule Banker’s Rule A person may borrow up to 2.5 times the annual income A person may borrow up to 2.5 times the annual income

I DO Calculate the amount of money a person can borrow from a bank given their annual salary Calculate the amount of money a person can borrow from a bank given their annual salary 1. $26, $26, $32, $32, $63, $63,560

WE DO Calculate the amount of money a person can borrow from a bank given their annual salary Calculate the amount of money a person can borrow from a bank given their annual salary 1. $26, $26, $85, $85, $45, $45,250

You Do Calculate the amount of money a person can borrow from a bank given their annual salary Calculate the amount of money a person can borrow from a bank given their annual salary 1. $18, $18, $24, $24, $48, $48,280

DIRECTIONS How many hours are in a week? How many hours are in a week? How many weeks are in a year? How many weeks are in a year? Multiply those 2 answers together Multiply those 2 answers together This is your multiplying number This is your multiplying number

I DO Find the amount borrowed for each hourly wage Find the amount borrowed for each hourly wage 1. $ $ $ $ $ $6.49

WE DO Find the amount borrowed for each hourly wage Find the amount borrowed for each hourly wage 1. $ $ $ $ $ $7.95

You Do Find the amount borrowed for each hourly wage Find the amount borrowed for each hourly wage 1. $ $ $ $ $ $8.25

DIRECTIONS Divide amount of the mortgage by banker’s rule Divide amount of the mortgage by banker’s rule Banker’s Rule Banker’s Rule A person may borrow up to 2.5 times the annual income A person may borrow up to 2.5 times the annual income

I DO Find the minimum annual income needed for these mortgages Find the minimum annual income needed for these mortgages 1. $35, $35, $40, $40, $80, $80,000

WE DO Find the minimum annual income needed for these mortgages Find the minimum annual income needed for these mortgages 1. $45, $45, $62, $62, $125, $125,500

You Do Find the minimum annual income needed for these mortgages Find the minimum annual income needed for these mortgages 1. $75, $75, $60, $60, $56, $56,000

REVIEW Today we learned how to calculate the amount of money a person can borrow from a bank and the minimum salary needed to mortgage a home Today we learned how to calculate the amount of money a person can borrow from a bank and the minimum salary needed to mortgage a home

HOMEWORK Find ANNUAL INCOME and Maximum amount of money that can be borrowed Find ANNUAL INCOME and Maximum amount of money that can be borrowed 1. Makayla $8,146 per month 1. Makayla $8,146 per month 2. Jared $1,256 every two weeks 2. Jared $1,256 every two weeks 3. Brooke $18,450 annually 3. Brooke $18,450 annually 4. Marissa $3,549 monthly 4. Marissa $3,549 monthly 5. Ian $2,894 biweekly 5. Ian $2,894 biweekly

WARM UP Change % to decimal 1. 15% 2. 34% 3. 28% Solve ,000 x ,500 x.30

Consumer Finance Chapter 4: Managing a Household Lesson 3: Computing Down Payment

4-3 VOCAB NONE when a person has zero definitions to copy down in their note NONE when a person has zero definitions to copy down in their note

Directions Change % to a decimal Change % to a decimal Multiply decimal and Cost = Down Payment (DP) Multiply decimal and Cost = Down Payment (DP) Subtract Cost – DP = Mortgage Subtract Cost – DP = Mortgage

I DO Calculate the DP and Mortgage Calculate the DP and Mortgage CostRate of DP 1. $125,90015% 2. $135,60020% 3. $245,00030% 4. $357,50025%

WE DO Calculate the DP and Mortgage Calculate the DP and Mortgage CostRate of DP 1. $85,75020% 2. $195,35017% 3. $495,83019% 4. $723,25032%

You Do Calculate the DP and Mortgage Calculate the DP and Mortgage CostRate of DP 1. $158,99923% 2. $293,72537% 3. $645,19017% 4. $725,75028%

REVIEW Today we learned how to calculate down payment and mortgages Today we learned how to calculate down payment and mortgages

HOMEWORK Calculate the DP and Mortgage Calculate the DP and Mortgage CostRate of DP 1. $350,00015% 2. $475,25020% 3. $500,25034% 4. $850,20023%

WARM UP x x ANSWER x ANSWER x ANSWER – 90, ANSWER – 90, x x ANSWER x ANSWER x ANSWER – 110, ANSWER – 110,000

Consumer Finance Chapter 4: Managing a Household Lesson 4: Paying the Mortgage

2-4 VOCAB Fixed-Rate Mortgage a loan in which the mortgage rate and payments remain the same Fixed-Rate Mortgage a loan in which the mortgage rate and payments remain the same Variable-Rate Mortgage a loan in which the mortgage rate and payments change over time Variable-Rate Mortgage a loan in which the mortgage rate and payments change over time Total Interest a total fee for borrowing money Total Interest a total fee for borrowing money

Directions (Find Monthly Payments) Turn to page 88 Turn to page 88 Find the mortgage in the left column Find the mortgage in the left column Go right until you find the Interest rate Go right until you find the Interest rate

I DO MortgageInterest Rate 1. $40,0009% 1. $40,0009% 2. $70,00012% 2. $70,00012% 3. $100, % 3. $100, %

WE DO MortgageInterest Rate 1. $90,0008.5% 1. $90,0008.5% 2. $70, % 2. $70, % 3. $60,00011% 3. $60,00011%

YOU DO MortgageInterest Rate 1. $50,0009.5% 1. $50,0009.5% 2. $80,00012% 2. $80,00012% 3. $110,0007.5% 3. $110,0007.5%

Directions (Find Amount Paid and Total Interest) Turn to page 88 Turn to page 88 Find the mortgage in the left column Find the mortgage in the left column Go right until you find the Interest rate Go right until you find the Interest rate Multiply this by 12 (this gives you amount for 1 year) Multiply this by 12 (this gives you amount for 1 year) Multiply this by 30 (Most mortgages are paid over 30 years) Multiply this by 30 (Most mortgages are paid over 30 years) This is the AMOUNT PAID This is the AMOUNT PAID Subtract that answer from the mortgage Subtract that answer from the mortgage This is the TOTAL INTEREST This is the TOTAL INTEREST

I DO MortgageInterest Rate 1. $40,0009% 1. $40,0009% 2. $70,00012% 2. $70,00012% 3. $100, % 3. $100, %

WE DO MortgageInterest Rate 1. $90,0008.5% 1. $90,0008.5% 2. $70, % 2. $70, % 3. $60,00011% 3. $60,00011%

YOU DO MortgageInterest Rate 1. $50,0009.5% 1. $50,0009.5% 2. $80,00012% 2. $80,00012% 3. $110,0007.5% 3. $110,0007.5%

REVIEW Today we learned how to find monthly mortgage rates, amount paid over time and total interest Today we learned how to find monthly mortgage rates, amount paid over time and total interest

HOMEWORK Find the monthly rate, then amount paid, then total interest (3 answers) MortgageInterest Rate 1. $40,00010% 1. $40,00010% 2. $70,00012% 2. $70,00012% 3. $60,0008.5% 3. $60,0008.5%

WARM UP / / Answer x Answer x / / Answer x Answer x 8.39

Consumer Finance Chapter 4: Managing a Household Lesson 5: Terms of Mortgages Differ

4-5 VOCAB Term The period of time for which money is loaned Term The period of time for which money is loaned

Directions (Find Monthly Payments) STEP 1 STEP 1 Divide Principle/1000 Divide Principle/1000 Step 2 Step 2 Turn to page 90 Turn to page 90 Find the years in the left column Find the years in the left column Go right until you find the Interest rate Go right until you find the Interest rate Step 3 Step 3 Multiply 2 answers Multiply 2 answers

I DO Interest RateTermPrincipal 1. 10%15 years$10, %15 years$10, %25 years$30, %25 years$30, %30 years$45, %30 years$45,000

WE DO Interest RateTermPrincipal 1. 11%40 years$50, %40 years$50, %20 years$35, %20 years$35, %35 years$45, %35 years$45,900

YOU DO Interest RateTermPrincipal 1. 10%15 years $57, %15 years $57, %20 years $100, %20 years $100,000

Directions (Compute total amount repaid on a mortgage of $90,000) Step 1 Step / /1000 Step 2 Step 2 Turn to page 90 Turn to page 90 Find the years in the left column Find the years in the left column Go right until you find the Interest rate Go right until you find the Interest rate Step 3 Step 3 Multiply 2 answers Multiply 2 answers Step 4 Step 4 Multiply answer by 12 (months in a year) and by term Multiply answer by 12 (months in a year) and by term

I DO Interest RateTerm 1. 8%15 years 1. 8%15 years 2. 8%20 years 2. 8%20 years 3. 8%25 years 3. 8%25 years

WE DO Interest RateTerm 1. 8%30 years 1. 8%30 years 2. 8%35 years 2. 8%35 years 3. 8%40 years 3. 8%40 years

YOU DO Interest RateTerm 1. 7%15 years 1. 7%15 years 2. 7%30 years 2. 7%30 years

REVIEW Today we learned how to find monthly payments on a principal and the amount paid back over time Today we learned how to find monthly payments on a principal and the amount paid back over time

HOMEWORK Find the monthly rate, then amount paid back (2 answers) Interest RateTermPrincipal 1. 13%20 years$75, %20 years$75, %35 years$55, %35 years$55, %25 years$80, %25 years$80,250

WARM UP Answer/6 2. Answer/ Answer / 7 4. Answer / 7

Consumer Finance Chapter 4: Managing a Household Lesson 7: Utility Consumption

2-4 VOCAB Units a fixed amount or quantity used as a standard Units a fixed amount or quantity used as a standard Cubic Feet units used to measure volume Cubic Feet units used to measure volume Average middle point in a group of numbers Average middle point in a group of numbers Kilowatt-hour (kWh) energy used in 1 hour Kilowatt-hour (kWh) energy used in 1 hour Watt unit of electricty Watt unit of electricty Kilowatt unit of electricity equal to 1000 watts Kilowatt unit of electricity equal to 1000 watts

Directions (Find Units) Step 1 Step 1 Subtract the amounts in the months Subtract the amounts in the months UNITS UNITS Step 2 Step 2 Multiply units x 100 Multiply units x 100 CUBIC FEET CUBIC FEET

I DO/YOU DO MO.Yr. 1Yr. 2 Jan April July Oct April to July yr 14. Jan to April yr 2 2. July to Oct yr 15. April to July yr 2 3. Oct to Jan6. July to Oct yr 2

Directions (Find Units and Total) Step 1 Step 1 Subtract the amounts in the months Subtract the amounts in the months UNITS USED UNITS USED Step 2 Step 2 Multiply units x rate Multiply units x rate TOTAL TOTAL

I DO/ WE DO Dec8917RATE = $ Jan Jan Feb Feb Mar Mar Ap Ap May May June June0591

YOU DO Dec66995RATE = $ Jan Jan Feb Feb Mar Mar68700

Directions (Find Average) Step 1 Step 1 Add all numbers Add all numbers Step 2 Step 2 Divide by how many numbers Divide by how many numbers

I DO , 597, 562, , 597, 562, , 506, 488, 445, 391, , 506, 488, 445, 391, 366

WE DO 1. 36, 18, 26, 17, 54, 25, , 18, 26, 17, 54, 25, , 29, 46, 348, 137, 652, 262, 135, , 29, 46, 348, 137, 652, 262, 135, 14

YOU DO , 573, 555, 558, 670, 532, 552, 480, 509, , 573, 555, 558, 670, 532, 552, 480, 509, , 653, 597, 562, 616, , 653, 597, 562, 616, 572

REVIEW Today we learned how to find units consumed, our total bill, and average units consumed Today we learned how to find units consumed, our total bill, and average units consumed

HOMEWORK Dec1234RATE = $ Jan Jan Feb Feb Mar Mar Find the average units used

WARM UP

Consumer Finance Chapter 4: Managing a Household Lesson 8: Telephone, Gas, And Electric Bills

VOCAB Flat Rate is a base amount charged for monthly telephone service Flat Rate is a base amount charged for monthly telephone service Optional is involving a personal choice Optional is involving a personal choice Make-Up Work is when you have a day, like tomorrow, to grab all your missing assignment…these assignments are due on Thursday…if you do not turn them in by Thursday your grade will lock at zero…The highest grade I will give on a make up assignment is a 70 Make-Up Work is when you have a day, like tomorrow, to grab all your missing assignment…these assignments are due on Thursday…if you do not turn them in by Thursday your grade will lock at zero…The highest grade I will give on a make up assignment is a 70

Telephone Bills Find the total when the person has a flat rate of $21.15 and uses call waiting rate of $5.05 Long DistanceTaxes 1. $11.21$ $22.31$ $12.57$1.31

Telephone - we Find the total when the person has a flat rate of $49.95 and uses internet rate of $10.00 OverageTaxes 1. $9.35$ $17.19$ $42.65$5.45

Telephone-you Find the total when the person has a flat rate of $65.95 and uses unlimited text rate of $15.00 OverageTaxes 1. $21.34$ $19.34$ $2.52$1.99

Bill – I Find Total Bill Find Total Bill MonthGasElec Phone Jan$60.32$31.44$18.90 Feb$135.73$30.95 $18.65 Mar$113.39$33.23 $23.89

Bill - You Find Total Bill Find Total Bill MonthGasElec Phone April$71.72$31.69$30.18 May$48.12$31.05$26.85 June$24.67$38.57$19.05

Summary Today we learned how to calculate our total bill for multiple services. Today we learned how to calculate our total bill for multiple services.

Homework Worksheet Worksheet

WARM UP Dec1234RATE = $ Jan Jan Feb Feb Mar Mar Find the average units used

Consumer Finance Chapter 4: Managing a Household Lesson 9: Mortgage Insurance

VOCAB Mortgage Insurance is a policy that pays all or part of the balance owed on a home Mortgage Insurance is a policy that pays all or part of the balance owed on a home Reminder is a friendly way of telling you that all make up work is due tomorrow Reminder is a friendly way of telling you that all make up work is due tomorrow

Directions 1.Turn to page 102 (or look on the worksheet) 2.Find the % by using the year of mortgage and year in death 3.Multiply the % and the mortgage

I do Policy Year Death Occurs Years of MortgageAmount of Mortgage $40, $33, $25,700

We do Policy Year Death Occurs Years of MortgageAmount of Mortgage $10, $95, $88,000

You Do Policy Year Death Occurs Years of Mortgage Amount of Mortgage $50, $45, $85,000

Summary Today we learned how to find the amount paid back in an unfortunate situation. Today we learned how to find the amount paid back in an unfortunate situation.

Homework Worksheet Worksheet

WARM UP x x x x x.0095

Consumer Finance Chapter 4: Managing a Household Lesson 10: Homeowners Insurance

VOCAB Homeowners Insurance is a policy that pays for loss from fire or other natural disaster Homeowners Insurance is a policy that pays for loss from fire or other natural disaster Coverage Rate is the percentage paid for homeowners insurance protection Coverage Rate is the percentage paid for homeowners insurance protection

Directions AREACONSTRUCTIONRATE ABrick.36% AWood.46% BBrick.42% BWood.54% CBrick.325% CWood.444% DBrick.395% DWood.518%

I do AREACONSTRUCTION VALUE 1. ABrick $67, CWood $64, BBrick $101,000

We do AREACONSTRUCTION VALUE 1. DBrick $150, CBrick $99, AWood $75,000

You Do AREACONSTRUCTIONVALUE 1. BWood $150, D Wood $75, C Brick $125,690

Summary Today we learned how to find the amount paid back in an unfortunate situation that happens to the home. Today we learned how to find the amount paid back in an unfortunate situation that happens to the home.

Homework AREACONSTRUCTION VALUE 1. AWood$175, D Wood $69, C Brick $115,950