Friday, May 30, 2008
Tuesday, May 27, 2008
Monday, May 26, 2008
Friday, May 23, 2008
The order of the data that we will get starting after the data given of sunshine is, step 1. the list, step 2.the graph settings, step 3. the V-Win option, step 4. the graph with no line, step 5. the the SinReg list, step 6. the graph with the line.
Step 1.In order to make the list with the sunshine data, you enter the months of the year in list number 1 (ex. January = 1, Febuary = 2, March = 3, etc.). Next, you enter the data for each month into the second list (ex. January = 120, Febuary = 140, March = 178, etc). Once you are finished putting in the list data for each month, you will adjust your graph settings in step 2.
Step 2. you want to set up the data to display a scatter plot. The x and y would be list one and list two (in that order). Any data point can be used for your preferences (Mr.K likes to use the squares).
Step 3. in order to get a good view of the data, you want to set up your V-Win so it goes beyond the data point of of the highest and lowest x and y values. Do not set it up too far or else the data will be squashed.
Step 4. Press the graph button to acheive this data ( must do step 1 though 3 first).
Step 5. go to the calc menu, press reg, and scale down until you reach SinReg. you press it and you should get this formula (refer to the picture).
Step 6. You copy Sinreg to the graph menu. After you get to the graph screen, you must put in beside SinReg L1, L2, Y1. Press graph to get this step. The pattern is likely to continue the next year so now you have a approx. pattern (will never get line exactly with dot). SinReg is useful when getting patterns in a series of data within a certain time period.
Thursday, May 22, 2008
Some things I might have trouble on is questions on mortgage. Theres a lot of information to take in and it gets confusing at times. But then once everything is organized, then the answer is easy to find. For example, the question that involved Lucy Brown who wanted to buy a condo. That was very confusing, mostly because the way the word problems or worded, and i guess i just didnt really read it carefully or understand it well. But seeing the way it was done, it seemed so easy.
Also leasing is a bit of a pain in the butt. There's alot to do, like finding the depreciation, taxing it, down payments, monthly payments, blah blah blah.
Hopefully i do good on this test, right now i feel confident about it, but tests are always surprising.
Wish me luck! :)
(Sorry for the horrible grammar. Hehe. :))
Wednesday, May 21, 2008
-High tide vs. Low tide
-Rotation of earth on sun or the Moon on earth
Tomorrow is the test and I hope I will be doing a good job with it because I have been actually studying harder and harder each day because I want to pass applied math very much and I want to increase my mark. These past 2 weeks we studied about financing a car, computers, mortgages, and making a net worth statement which I really didn't get to learn much about the things I have missed because of the Music trip and my Folk Dance Camp so I'm a bit scared for the test. In the future we're going to have to do all of this to survive and to calculate everything to be able to not be overcharged with things so we save up money and have it a teensy bit easier in life which is why we learnt in math about if we should Lease or buy a Car or Computer or to Rent or Buy a house. One thing I really disliked in this unit is calculating Mortgages I still don't quite understand how to do it properly such as your property after 1, 2, 5, or 10 years. Which is why I shall study and give it my all tonight and tommorow morning to understand how to do the questions that were given to us since day 1 of the Personal Finance Unit. Remember the formulas given to us such as the GDSR, PV of Loan, Equity of House, and Debt/Equity ratio. I hope that's all the formulas given =s maybe something about Net Worth = Assets - Liabilities. Well back to the studying and good luck to all my fellow classmates or to anyone out there who have a quiz, test, or exam to do tommorow^^. David-san signing out(:
+PV of Loan ( when we lease a car)
+Equity of house
...I think that's it, ^^ Good luck to u guys and also good luck to me :P
Tomorrow is the test and I hope and getting a higher mark than my last tests so I can bump up my mark a bit.This past 2 weeks we studied about financing a CAR, COMPUTERS, MORTGAGES, and making a NET WORTH STATEMENT. Will we all face all those things in the future for our needs that's why we need to do the math and be smart about whether we should LEASE or BUY a car or computer; or; RENT or BUY a house. The one thing I love about this unit is, we actually apply this to our daily lives and it happens most of the time when we need to purchase something. Budgeting is one thing we need to consider when it comes to financing something we need in order to save alot of money. Also, one thing I unLOVED about this unit was calculating things about MORTGAGES such as your property after 1,2 or 5 years and all that. But, as I study I will most likely learn how to tackle those problems with no sweat. I guess that's all for my BOB FM. Hope we all get high marks in the test and have a nice day. This is BOB FM ,Ace Burpee saying GOOD LUCK with BOB FM.
Tuesday, May 20, 2008
First exercise is calculating the debt/equity ratio. What we do is add all the assets and liabilities.
$3,000 in bank
$4,000 near cash
$10,000 mutual funds
$3,000 in Canadian savings bond
$15,000 car loan
$4,000 credit card balance
assets-liabilities= net worth
Now to get the ratio we take liabilities subtract mortgage cause mortgage is one debt we would like to have.
81,000 - 60,000 = 21,000
now we take our liabilities subtract mortgage and divide it by our net worth
81,000-60,000/74,000 = 0.283
so daves liabilities are about 28% of his total net worth
So that was the first question, and the next question already has the answers on the next slide page so i don't think i need to go through it. Oh and our test is on Thursday so get your bob done.
the next scribe will be H20
Net Worth = Assets - Liabilities
Debt/Equity Ratio = (Total Liabilities - Mortgage) / Net Worth
The Total Liabilities for the formula includes all short and long-term debts except for your mortgage as shown in the formula you must subtract from the total liabilities before you divide.
Mr. K also showed us a Net Worth spreadsheet to calculate you debt/equity ratio and Net Worth at the same time where you just type in all the types of assests and liabilities you have in there catagory.
So after that we did a question on mona wanting to do some extensive house renovations. We used this spredsheet to calculate her debt/equity ratio and net worth in order to see if she was able to get the loan.
We find her debt/equity ratio to come up to 20% but if mona was to get a $15000 loan it would rise up to 51% which means the bank will probably not give her the loan since it is over 50%.
These are 3 tips to raise one's net worth:
1. Get higher rates of return on your investments.
2. Reduce your debts. Remember the more extra money you put on your payments you make on your debts the faster they will reduce.
3. Save more on a regular basis. Save at least 10% of your income. Save before you spend.
Next Scribe: David-san
Monday, May 19, 2008
Friday, May 16, 2008
Thursday, May 15, 2008
here is one :
A group of rural students is planning to go to university. One of the members of the group suggests that they purchase an older home rather than rent an apartment. After a careful analysis of their finances, the group decides that their gross monthly income would be around $3000.00. Monthly property taxes are estimated to be $125.00. Heating bills are estimated to be $150.00. The group can arrange a mortgage at a rate of 9%. The three members of the group are able to come up with a down payment of $8000.00. Determine the maximum affordable purchase price that can be considered if they take out a 25-year mortgage.
just have to remember that the mortgage in Canada is compounded twice a year....
the others are mostly the same......
there's some homework too....
i didn't scribe last night so............sorry
i'll scribe for today too!!! :(
Wednesday, May 14, 2008
Tuesday, May 13, 2008
Monday, May 12, 2008
In this episode of Student Voices three Advanced Placement Calculus students, Chris, Craig, and Graeme, talk about a wiki assignment they did to prepare for the exam. Then the conversation transitions to a discussion of the many things they learned while doing their Developing Expert Voices project. It ends with a challenge, the result of which will be featured in a future podcast.
Let Chris, Craig, and Graeme know what you thought about the podcast by leaving a comment here on this post or on the mirror of this post on their class blog.
(Download File 31.8Mb, 26 min. 30 sec.)
The video mentioned near the end of the podcast is called Daft Hands. Here it is:
If you’re renting these are some things that you should keep in mind:
1. You need to pay the monthly rental payments in advance plus probably one month’s rent in advance as damage deposit.
2. It is cheaper to rent a home in the short run than buying, but it doesn’t create any assets.
3. You need to know what is included in the rental payments. Example: are the utilities (especially water, hydro, heating) included? Is the home furnished…etc.
4. When renting a house, the rental payments will increase over time and you don’t create any assets. If you buy a house then the value of the house normally increases with time.
Non-financial factors to consider when renting:
1. When renting you might be restricted to your lifestyle. Example, you maybe not be able to have pets, or modify the home to suit your personal needs.
2. Repairs, maintenance, or property taxes you are not responsible for. Example, if the hot water tank needs replacing, the owner is responsible.
3. It is better to rent then buy a home if you only need the home for a short time. So then you can avoid the inconvenience and expense of reselling the home.
Now, we will look at the costs associated with buying and renting a home.
"How Much Can I Afford to Pay for a Home?"
Banks and other lending institutions have developed a formula that
allows you to calculate the maximum price of a home you can afford.
This formula is known as the Gross Debt Service Ratio, or GDSR.
According to this formula, anyone buying a home should spend no
more than 32% of gross income on household or accommodation
expenses, including mortgage payments, property taxes, heating
and condo/strata fees. The formula may be written as:
Lucy Brown wants to buy a condo, but does not know how much money she
should spend based on her income. She earns $44 000 per year, and has saved
$9000 for a down payment. The property taxes for the condo she likes are
$1500 per year, and the heating costs average $90 per month. The condo/strata
fees are $180 per month. The bank will give her a 25-year mortgage at an
interest rate of 7.5%. What is the maximum price she can afford for a condo,
based on spending no more than 32% of her gross income on household and
Now since there is so much stuff in the question just break it down into small parts like it is done below.
I know that you are probably wondering why C/Y is 2. Well it is 2 because by law in Canada the bank can ONLY compound you twice a year!
After you calculated everything your Present Value will be $118,696.49 after 25 years. Plus you have to include the $9000 down payment that Lucy has saved up. (Showed below)
I know that you might be wondering what do some of these mean...right down below are some of the definitions.
1. Appraisal fees- The process through which conclusions of property value are obtained; also refers to the report that sets forth the process of estimation and conclusion of value.
2. Property survey- The process by which boundaries are measured and land areas are determined; usually performed by a land surveyor.
3. Insurance costs for high ratio mortgages- This is only for first time house buyers, you only pay 5% of it & the bank pays the rest.
4. Land transfer tax- A tax payable to the Provincial Government by the purchaser upon the transfer of title from a seller.
5. Interest adjustments- Extra proceeds going to an investor who submits a convertible bond for conversion to account for interest accrued since the last date of record for an interest payment.
6. Legal fees- A fee paid for legal service.
I hope you guys like my scribe post & I'm sorry if the pictures arent that good….but now I’m off on my choir & vocal jazz trip to moose jaw! I am honored to announce that our next scribe post will be by the one the only H20!!!!! YEAH.
Sunday, May 11, 2008
aaanyways, here's the scribe from FRIDAY MAY 9, 2008.
We went over the homework from THURSDAY MAY 8, 2008
The answers for D&E are basically your personal opinion.
We worked on a group problem similar to the problem on thursday. Which can be found on slide 9. =D
The lucky winner of the next scribe post will be ........................................
VANESSA!! *the crowd roars* WOO HOO!
Friday, May 9, 2008
Thursday, May 8, 2008
Today was a double class day, and in the morning we went over the spreadsheet on Jess' truck problem., and how to calculate the Present Value of a lease loan.
After that we went over last night's homework and used the spreadsheet as well to solve that problem. If you haven't noticed, there is a link underneath May 7's slides for you to use the spreadsheet at home.
At the beginning of the afternoon class we continued by comparing what happens to the monthly payments and total interest when you change the percentages, and when you change the amount of payments (length of loan). We found out that changing the percentages for the same loan does not significantly affect the monthly payments, or the total interest paid. However, if you change the length of the loan, you will get much bigger changes:
- On a shorter loan, i.e. 3 years, your monthly payments will be higher, but the total interest paid will be smaller.
- On a longer loan, i.e. 5 years, your monthly payments will be smaller but you will end up paying a lot more interest in the long run.
We were then left with Ted's truck to work on class, and whatever you did not finish in class is tonight's homework. Good luck to all!
And for tomorrow, Melissa can have the honors of scribing.
Wednesday, May 7, 2008
Last Night's Homework
Jess also looks at the of leasing the vehicle for 3 years. The price is $24 950.00 plus PST (7%) and GST (5%). The residual value (i.e. the "buyout price") is set at 48% of the new price. The down payment is $2 250.00 and the interest rate is 8.75%.
(a) What is Jess' monthly lease payment?
(b) How much does Jess pay for the lease in total.
(c) If Jess decides to buy the truck at the end of the lease and makes a 2 year loan at 8% to pay the buy-out price, what is the total cost of the truck for her?
The next scribe will be..... . : : Яέήάή : : . .
Tuesday, May 6, 2008
THE 3 THE's
- The depreciation of the item
- The sales taxes on the amount of depreciation
- The interest on the unpaid value of the item
Also, when we lease a (for example a car), we need to sign a lease agreement.
This agreement specifies 6 things:
- The initial value of the item
- The buy out price at the end of the lease
- The down payment (if there is one)
- The interest rate
- The monthly payment
- Any additional fees
- A car lease will specify how many kms. you can drive
- The fee per km. if you exceed this limit.
Whether it'd be BUYING or LEASING a car, it all depends on the price of the car and how it cost and how it should be paid.
We did one example in class where we were asked to find Jesse's monthly payments and the total cost of the truck.
I'll show you step by step how we get the answer in an organized way(ehem ehem).
Alright, that's all I could do to help you guys. I hope you learned something. Comments are welcome(maybe).
Next scribe is, ADAMSON(Chunkynator)
Hey guys, this is my 3rd scribe post..
Today we mostly got caught up in conversations about different things and with the firedrill..
Other than that we went through a couple of warmups and onto a new aspect on our current unit of personal finance.
The lesson we started to learn today was about owning or leasing cars - which one would be better to do?
One of the warmups we started off with was this one on loans:
You start off by inputting the data that you know into the correct places in application TVM Solver.
In this problem, we are given the:
PV ($8250 loan);
P/Y C/Y (compounded monthly)
N (loan repaid in two years [ 24 monthly payments ])
Remember that PV is kept as a positive number this time because since you are loaning money, you are GAINING money that's practically in your pocket rather than investing money that won't be in your pocket.
Use the solve function to find the monthly payment for the loan (PMT).
To find the COST OF THE LOAN multiply the PMT (that you just found) by the # of payments.
To find the INTEREST PAID take the cost of the loan (that you also just found) and subtract it by the previous value (PV).
On these car problems~~ You have to keep in mind that:
When buying a car... You MUST pay;
PST (7%) + GST (5%) when purchasing a NEW car [ 12% tax total ] &
PST (7%) ONLY when purchasing a USED car.
Let's look at the first problem that was given to us on this lesson..
Jeff had to pay $21616
-Simply, Jeff is buying a NEW car (12% tax) and selling off his older car to a dealership or somewhere.
-Remember to calculate taxes he must pay AFTER subtracting the cost of the Dodge first because he only has to pay tax on the new Chevy truck that he is buying, not something he is trading in.
***$19300 is being multiplied by 1.12 because that is 12% OF the value + the current value so you won't have to do extra steps on your calculator.***
The car is worth 32.77% of it's original value in 5 years.
(since the value of the car was not given we found the % of what the car would be worth instead)
-Because the car constantly decreases in value by 20% every year (due to the way things are in this world) , what's left of the car's value each year is 80% of it...
-So you take 100, multiply it by 0.80 (80%) five times to get the answer for 5 years.
And think about it, if it decreases in value 20% every year, it WON'T be worth nothing in 5 years because its always dealing with a different number. Not stacking up the 20%'s up to 100% of the value.
That's it, that's all.
Thanks for volunteering as the next scribe . . . .
Monday, May 5, 2008
Friday, May 2, 2008
PV= -370000 PV=20000
PMT=0 PMT= -377.42
c) N=60 d)N=60
PV=0 PV= -238960.6
PMT= -(4000-377.42)= -3622.58 PMT= -4000
Next scribe is CJ...
You MAY NOT COPY a response published by a student before you. Be creative and create a new or different scenario of your own.
If necessary, click on the image to enlarge it.
You MAY NOT COPY a response published by a student before you. Be creative and create a new or different scenario of your own.
If necessary, click on the image to enlarge it.
Thursday, May 1, 2008
-So some person is gonna get a sum of cash, but he wants to buy a $20,000 car. His lawyer offers him two options.
pay cash for the car
the rest of $370,000 is invested at a rate of 4% per year, compounded monthly.
Receive $4000 a monthly for the next 10 years
- Finance your car for 5 years with a interest rate of %5 compounded monthly
- Invest the remaining monthly allowance at a rate of 3.8% per year compounded monthly
Basically try to find which is better.
I shouldn't be the scribe but I guess i'll do today because its easy. So the next scribe is Sezy