Personal Finance

This is my post for today and i wrote most of the answers for the questions but i did not know that my computer was still like this so, you guys can check the slides.

I wrote down the meaning of Equity when Mr. K was talking.

Equity is a fraction of the house you own and and it never loses its value.

Sorry but i am getting in trouble for being on the computer this late so for the questions just check the slides because we had to find the appreciating value of the mortgage and had to find the differences of renting and a mortgage so i have to go.

The next scribe is..... Jennifer.

Personal Finance

Hi everyone i am sorry that i haven't been blogging properly for stupid reasons. I cant get the pictures with my computer because it's still not working that great.

Yesterday we worked on a couple of questions and i am still a bit confused but i am getting there.

We had to find monthly payments, total mortgage, total interest, and total savings.

An example of the questions is this and i am sorry i cant get the slides to show up on my computer.

to find the monthly payment of the question, the 25 years of mortgage was turned into months by:
multiplying the # of years by the # of months in a year and it gives you 300 but that is still not finding the monthly payments amount so, we put this in the calculator:
N=300
I%=7
PV=121000 because this is the mortgage that they will require.
PMT=-847.50 because you need it at 0 so you can get this answer and this is the monthly payment.
P/Y= 12
C/Y= 2

To get the total mortgage after 15 years you take the monthly payment and multiply it by the # of months so: $847.50 x 300 and you get $254250.00 as the total mortgage after 15 years.
to get the total interest you take the total mortgage and subtract it by the mortgage they require so: $254250.00 - $121000 and you get $133250.00 as the total interest you will have to pay. Then to get the total saving of the other years from part a you find the difference between the two so you take $133250.00 - the answer from part a and it equals $5628 as the total savings.

February 14, 2007

February 14, 2007

Hi everyone. Happy Valentines day. Today in the third period class we tried to do a question mr. k put on the board. my computer isn't working well so i can't put any pictures on or it will freeze.

In class we learned how to make equations out of the information given because we were supposed to make an equation out of a matrix.

ex. you have a matrix that is 3 by 3 and the info from left to right starting from the top, and it has these values,

f to f = .85, f to c = .13, f to e = .02 then the middle row has, c to f = .05, c to c = .91, c to e = .04, the the bottom row has, e to f = .03, e to c = .21, e to e = .76.

Then you have the initial state which was, f = .30, c = .20, e = .50.

So we had to make three equations out of this information.

ex. Make an equation out of the f column by mulitplying the f column by the initial state.

and it should look like this:

F= 0.85f + .05c + .03e.

and that would give you the new information for the f column.

Then to get the new info in column c, you have to do the samething as before but this time using the c column.

Then over again to do the e column.

In last period, we looked at a review for the matrices unit.

We were asked to do question 6 in the booklet.

Question from booklet:

Three children, Ann (A), Bill (B), and Carl (C) are throwing balls at each other. Ann always throws to Bill, Bill always throws to Carl, but Carl is equally likely to throw the ball to bill as he is to Ann. Write a probability matrix to represent this situation?

So we made a matrix with percents.

ex. matrix 3 by 3 had FROM A B C, TO A B C. In the A row we put 0, 1, 0. In the B row we put 0, 0, 1. In the C row we put 0.50, 0.50, 0.

The initial state had 1 0 0 starting with Ann.

And that was it but mr. k asked us to figure out the percentages for Ann, Bill, and Carl after the fourth throw.

So we used the initial state and multiplied it by the transitional matix to the exponent of 4 to get the percentages.

And we got: 0, 0.50, 0.50.

Meaning, if Ann started with the ball then she threw it to Bill, Bill then threw the ball to Carl, and then the ball ended up with Bill. The ball then had a 50-50 percent chance going to Carl and Bill again. So if you want to figure out the longterm percentages, you have to take the initial state and multiply it by the transitional matrix to the exponent of 50 and then you get Ann with a 20 percent chance to get the bal and Bill and Carl a 40 percent chance to get the ball.

So do you really think it's a fair game?

Also for people who were not in the afternoon class we had to tak these notes down in our dictionaries:

MATRIX:

A rectangular arrangement of numbers (or letters) in rows and columns contained in square brackets. The plural of MATRIX is MATRICES. They are usually named using capital letters.

ex. a 2 by 3 matrix: square bracket row (1 2 3) bottom row (4 5 6).

DIMENSIONS OF A MATRIX:

Determined by the number of rows and columns. Written as: r x c READ as "r by c"

ex. Matrix above is a 2 x 3 matrix.

ELEMENT OF A MATRIX A.K.A. ENTRY

One of the values in a matrix. The address of each value is given by its row and column position.

ex. A (sub) 23 = 6

The element in matrix , row 2, column 3 is 6.

We also had to finish the homework on p.83 numbers 6 to 9.

OH YEAH........mr. k kept om spelling matrices like this: matricies so whoever wrote it like mr. k you might want to change it.

AND SO THE NEXT SCRIBE IS CRIS