1. October 11 “It is easier to forgive an enemy than to forgive a friend.” ~William Blake

2. Figuring Monthly Mortgage Payments Today’s Assignment: Calculate the monthly mortgage payment for 2 properties—you will choose the best option according to your preferences. Lifestyle Math-pg. 14-20 Teacher Models Group Practice Independent Practice

3. Budget Profile Your budget profile will be on pg. 13. Final calculations will be imputed there. At the end of this unit, your lifestyle cost can be found on this page!

4. Example The Real Estate Book: pg. 2 1 st Column 1st home-219,900 219,900 (Purchase Price) X.10 (% down payment required) ________ 21,990 (Down Payment)

5. Amount to be Financed 219,900 (Purchase Price) - 21,990 (Down payment required) ________ 197,910 (Amount to be Financed)

6. Monthly Mortgage Payment Locate how many thousands are in the amount to be financed. 197,910 divided by 1,000 = 197.91 The current interest rate is 5.2% (5). 197.91 (number of $1000s in mortgage X $5.37(rate/$1000 at 5%) ________ 1062.78 (monthly mortgage payment)

7. Partner Assignment The Real Estate Book pg. 2 Choose 2 properties to find the monthly mortgage payment. Each individual must write their own answers. Use this answer sheet to study for tomorrow’s quiz!

8. Individually… Calculate the monthly mortgage payment for 2 properties—you will choose the best option according to your preferences.

9. TIME CAPSULE… Complete your time capsule! Complete all assignments on handout and decorate your box.

10. HOMEWORK Bring in copies of utility bills, and an online advertisements or profile for your vehicle preference. Quiz on calculating monthly mortgage rates tomorrow (Tuesday).

11. Figuring Monthly Mortgage Payments Today’s Focus: Property Taxes, Insurance, and Utilities bills. Lifestyle Math: pg. 21 Teacher Models Group Practice Independent Practice: Calculations for your chosen home Lifestyle Math: pg. 30-31

12. HOMEWORK Bring in copies of an online advertisements or profile for your vehicle preference

13. October 13 “Disrespect others and you disrespect yourself.” –Unknown

14. Property Taxes For property taxes, use 2%. $129,900 (price of home) X.02 (property tax percentage) ________ $2,598 (annual property tax) $2,598 divided by 12 = $216.50 (monthly property tax)

15. Property Insurance For Property Insurance, use.25% $129,900 (price of home) X.0025 (annual insurance percentage) ________ $324.75 (annual insurance cost)

16. Utility Bills Use the following average figures for your utility bills: Gas/electric: $230 Water: $25 Trash Disposal: $20 Cable TV/Internet/Phone: $150

17. Select a partner Choose two homes from “The Real Estate Book.” Make sure one home is priced below $50,000 and one is priced above $200,000. For the pricey home, increase all utility bills by $50 except for Cable TV/Internet/Phone. Calculate the monthly mortgage rate, the property taxes, the insurance, and utility bills for both homes to compare the housing costs. Paste pics from magazines Complete pg. 31-TURN BOTH IN!

18. Partner Up!!! Choose three homes from “The Real Estate Book.” Make sure one home is priced below $50,000 and one is priced above $200,000. The 3 rd one is the home you chose. For the pricey home, increase all utility bills by $50 except for Cable TV/Internet/Phone. Calculate the monthly mortgage rate, the property taxes, the insurance, and utility bills for both homes to compare the housing costs. Draw a line down the middle of your poster. Paste pics from magazines that would illustrate how the inside of both homes would look. If you like to draw, you may do so. Write half a page explaining your previous ideas in regards to buying a home and paying utility bills. Were you realistic regarding how much bills were and how stressful it could be in buying a home. Explain why and why not.

19. Transportation: Buying A Car Lifestyle Math: pg. 32-33 Trade In and Gas Monthly Costs Lifestyle Math: pg. 34-36 Cost to Finance Vehicle Lifestyle Math: pg. 37 Vehicle Insurance Lifestyle Math: pg.