MA19.MM.7

Mathematics (2019) Grade(s): 09-12 - Mathematical Modeling

MA19.MM.7
Compare and contrast housing finance options including renting, leasing to purchase, purchasing with a mortgage, and purchasing with cash.

Unpacked Content

Knowledge

Students know:

how to calculate the cost of renting a house for a period of time.
how to calculate the cost of purchasing a house with a mortgage.
how to organize data on housing costs.
how to compare and contrast housing cost data.

Skills

Students are able to:

Calculate the cost of renting a house.
Calculate the cost of renting to own a house.
Calculate the cost of a house through a mortgage purchase.
Calculate the cost of a house through a cash purchase.
Compare and contrast the cost of purchasing a home using different methods.

Understanding

Students understand that:

there are many ways to pay for housing. Each method has advantages and disadvantages for individuals.

Vocabulary

Rent
Lease to Purchase
Mortgage
Interest Rate
Down Payment

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