Astronomy A103 Dr. Edward Rhoads LD 156P 317-278-1134 Homepage: m.

Slides:



Advertisements
Similar presentations
Buying and Selling a Home
Advertisements

CREDIT ESSENTIALS Introduction to Business and Marketing – Ch 25.1.
Do you have a debt? Survey carried out within the “Think Twice, debt is a serious issue” international project.
Credit Card Basics. Getting the idea Debit cards can be used almost anywhere that credit cards can be used. But there is a big difference between them.
What is Science? We are going to be studying science all year long! Take a moment and write down on your paper in several sentences what you think science.
Your Guide to Buying a Home Financial Planning. Is Buying a Home for You? Renting vs. buying Consider your reasons for buying – Pride of ownership – Appreciation.
Warm – Up Housing Question Monday, October 7, 2013 While creating your budget, what was most important to you have enough money for?
Consumer Math p Definitions  Down payment – part of the price paid at the time of purchase  Financed – borrowed  Mortgage – a property loan.
Unit Home Ownership Learning Objectives: Understand the three requirements to buy a home How to calculate debt-to-income ratios Realize how home.
Objective 2.03 Analyze financial and legal aspects of home ownership.
Team #4 When to Buy A House Stephen Tran- Organizer Shake Babakhanyan- Techie Paige Lewis- Summarizer.
Class 5: Thurs., Sep. 23 Example of using regression to make predictions and understand the likely errors in the predictions: salaries of teachers and.
Your Money and Your Math
Mortgages and Home Loans How to buy a house that you can afford…
Managing Your Money Personal Finance. Disposable Income.
Leaving Certificate 1 © PDST Home Economics. Mortgage  A mortgage is a loan from a lending agency to buy a house  The loan is usually repaid in monthly.
Finding and Selecting a Home.  What Are the Steps for Buying a Home? 1.Determine if you should rent or buy 2.Determine how much you can afford to spend.
P-value Method One Mean, sigma known. The average length of a certain insect has been determined to be.52 cm with a standard deviation of.03 cm. A researcher.
Copyright © 2011 Pearson Prentice Hall. All rights reserved. The Time Value of Money: Annuities and Other Topics Chapter 6.
BUY A HOUSE HOW MUCH HOUSE CAN YOU AFFORD?. GROUP 5 ERICA MCMILLAN- BRADLEY ELLIS – PILAR GONZALEZ.
7-1: Buying a Home. Costs of Financing a home: Purchase price = tag price Downpayment = a percentage of the purchase price; between 0% and 30% Interest.
Loans Claire W, Emily M, Lindsey M, Andrea B. What can people get a loan for? You can get a loan for just about anything like an auto loan, house loan,
WHICH PROGRAM IS RIGHT FOR YOU? Programs for Patrons on Home owning and mortgages.
© 2009 Atova, Inc. All rights reserved. This document may contain proprietary and confidential information. This document and the information contained.
Equity and Selling Costs © Dr. B. C. Paul 2002 revisions 2008 Note – The subject covered in these slides is considered to be “common knowledge” to those.
Review Jeopardy Objective DefinitionsSituationsMoney and numbers
Buying a Home You will appreciate this lesson in 10 years. SO SAVE YOUR NOTES FOREVER!
Sociology 5811: Lecture 7: Samples, Populations, The Sampling Distribution Copyright © 2005 by Evan Schofer Do not copy or distribute without permission.
How to Buy a Home. Average cost of a home is $150,000 and higher. Average cost of a home is $150,000 and higher. Mortgage: Mortgage: loan to buy real.
Excel: Project 1 Personal Budget Computer Information Technology.
Objective 2.03 Analyze financial and legal aspects of home ownership.
Rent vs. Buy The Finances of Housing and Real Estate.
Physics 100 Dr. Edward Rhoads LD 156P
Term Project Part 3 Matt Willey. What effect does interest rate have on total payment? A lower the interest rate means less interest paid over all. When.
Math 1050 Project PART #3. Insight's Home Purchasing Basics Determine that you really want a home. Figure out how much you can afford for a home loan.
Chapter 22: Buying a Home.
Annuities ©Dr. B. C. Paul 2001 revisions 2008 Note – The subject covered in these slides is considered to be “common knowledge” to those familiar with.
MATH 1050 GROUP ASSIGNMENT JOSEPH ROBINSON Buy A Home?
Objective 2.03 Analyze financial and legal aspects of home ownership.
 We are going to be studying science all year long! Take a moment and write down on your paper in several sentences what you think science is.  Be Prepared.
Math 1050 Mortgage project Maddie Gale p.2.
Home Buying. Why we need banks Many of us will want to buy a home later in life. Do you have the money to buy one? Many of us do NOT have $100,000 - $400,000.
Labs and write-ups Mrs. Kay. Scientific Law:  something that has been observed so many times by scientists that they are convinced that it will always.
Using Spreadsheets in Eng Econ (Separating Principle and Interest) ©2005 Dr. Bradley C. Paul.
Do Now: Housing *Answer all questions in complete sentences unless otherwise specified. Please number your responses in your notebook. 1. Is it better.
Astronomy A205 Dr. Edward Rhoads LD 156P Homepage: 05syllabus.htm.
Copyright © 2015, 2011, and 2007 Pearson Education, Inc. 1 Chapter 12 Business and Consumer Loans Section 5 Real Estate Loans.
Chapter 28 Notes. WHY RENT?WHY BUY? Don’t forget that taxes, closing costs, fees, etc. will also be included! You will pay more than what you see here!
PERSONAL FINANCE Buying a Home. Objectives: Buying a Home Students will understand how key percentages are used to determine how much housing expense.
Business Math JOHN MALL JUNIOR/SENIOR HIGH SCHOOL.
What is a Mortgage? A mortgage is a loan used to buy a property. As with all loans, how much interest you pay depends on several factors: How much you.
CHAPTER 26 – HOW TO GET AND KEEP CREDIT What I need to know…
Scientific Method.
A Place to Buy: The Buying Process I can determine the advantages & disadvantages of buying a home. I can explain the steps in buying a house. I can analyze.
Hidden Costs in Home Loans ©2002 Dr. Bradley C. Paul.
Class Notes Unit 2 – Scientific Research Science:.
October 17, 2011 Objective: Students will learn about credit and the different types of credit.
Real Estate Loans.  Payment = (loan amount ÷ 1000) x table value  Use REAL ESTATE amortization table found on p Because this table lists the principal.
REAL ESTATE Investments Vocabulary Rental Property – real estate available for being rented and an alternative to investment opportunities available.
A mortgage is a loan that a person obtains to buy a house For most people, this will be the largest purchase they will make in the course of their lifetime….
FIRST TIME HOMEBUYER MISTAKES TO AVOID by Irvine Residential Living.
© South-Western Educational Publishing Buying a Home.
BUYING A HOUSE Affordability Guidelines The 2 most common guidelines for buying a house are:  Don’t pay more than 3 times your annual gross income.
Section 12.5 Real Estate Loans.
Chapter 1 Science methods.
Dr. Edward Rhoads LD 156P Physics 100 Dr. Edward Rhoads LD 156P
SCSH3. Students will identify and investigate problems scientifically
Scientific Method: The systematic study of a question or problem
Scientific Method.
FCAT Science Standard Arianna Medina.
Presentation transcript:

Astronomy A103 Dr. Edward Rhoads LD 156P Homepage: m

Goal: To understand what Science is, what it does, and as to how Astronomy is useful to our society. Objectives: 1.To understand what goes into Scientific Models 2.To understand what is meant by Scientific Theory 3.To Brainstorm uses for Astronomy

What is Science? To attempt to gain an understanding work on the following example: You are buying a house. The house is $100,000. The loan is 6% interest for 30 years. You type this information into a website which estimates your mortgage payment and it claims that the monthly payment will be $600 per month. How much money will you have to pay to pay off the mortgage over that 30 year span?

Assumptions Assumptions are values we assume to be true or that their effect on the final result is negligible. What have we assumed here?

Assumptions Constant interest rates Constant payment each month Constant dollar Monthly interest, and payment made after interested compounded (if payment is made before interest, then needed payment drops to $597 per month).

Omissions Insurance Property tax Escrow Lenders fees Home improvement costs Moving costs Utilities Income from home if you rent some of it out There are always other unknowns. So, is $216,000 the “wrong” answer? A) yes B) no How could we include these without knowing what they will be?

Error Bars Error Bars are just the value we expect the true value to deviate from our model. The lower the error bar the more accurate our model. What this does is allow us to estimate a range of values we know the “true” answer should fall into.

In Science: There is no “right” or “wrong” answer. There are only answers that are highly accurate, moderately accurate, and not very accurate. Okay, occasionally there is a “crackpot” idea also, but those are rare and usually ignored by most – however….

Science: Is the ongoing work to attempt to understand what we do not know using what we do know. We do this by attempting to best address the “error bars” both known and unknown that we may encounter in order to establish the most accurate set of ideas (otherwise known as “models” or “theories”) that we possibly can.

What is a “theory” a)Some random guess. b)What some scientist thinks the answer should be off the top of his head. c)Some unproven and/or un-provable idea which is the most educated guess someone can make. d)The “model” which most accurately explains what we can observe and find in experiments, and has been proven to be accurate time after time after time.

What is Astronomy used for? With a neighbor, brainstorm as many things that you can think of that Astronomy has been, or could be, used for. Include even historical reasons, and possibly future ones.

Conclusion Science is about using as many facts as possible to take the next step in understanding the unknown. Many “theories” are in fact well thought out and very well proven using as many tests, observations, and experiments we can think of. Astronomy, in addition to being very fun and cool, and having lots of pretty pictures, is a very useful science and will only become more useful as mankind heads into the future.

Questions?