Essential Questions
-How can you make money by saving?
-Are credit cards bad for you?
-Should a family friend refinance their house?
Major Deliverables:
-A detailed explanation of whether or not someone you know should refinance their house.
-Values you should try to get: Amount owed on the house, monthly payments, current interest rate, credit score
-Based on their information, find a loan rate from a reputable lender for a 30 year fixed rate mortgage
-Calculate their new monthly payments and how much they would save monthly, yearly, and over the life of the new loan with Excel
-Write up a one page formal analysis that looks professional and includes writing, a compressed table, and graphic to help explain your findings.
-Present your findings and have them sign your sheet
or
-A detailed analysis of whether or not someone should continue renting or if they should buy a house.
-Values you should try to get: current monthly rent, how much money they can use for a down payment, credit score
-Based on their information:
-Find a house that they might like that is for sale on Zillow.com
-Find a loan rate from a reputable lender for a 30 year fixed rate mortgage
-Calculate their monthly mortgage with the loan zeroing out at 30 years using Excel
-Write up a one page formal analysis that looks professional and includes writing, a compressed table, and a graphic to help explain your findings.
Here are some YouTube videos you can watch for help: http://www.youtube.com/watch?v=20ycC_GY56Y or http://www.youtube.com/watch?v=R0K1j69IUJo
Want a deepr understanding of credit cards? http://www.comparecards.com/pdf/Introducing_the_Credit_Card.pdf?k=comparewallet06
Want to learn more about stocks and bonds? http://www.comparecards.com/pub/assets/pdf/UNIT_1_Basics%20of%20Investing.pdf?k=comparewallet06