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Honors Pre-Calculus/Trigonometry

Project – Personal Finance Decisions

“A Dream House, Dream Car and a Dream Job”

Date of proposal: November 4, 2019

Due date: November 11, 2019

Dear students,

This project’s goal is to explore your horizons in personal finance world using knowledge you have received during Pre-Calculus class working with exponential and logarithmic functions, using compound interest rate formulas, applying other financial models and etc. Please, use all skills you have learned in our class in order to complete this project. Your goal is to choose your future house, your future car and your future job. It can be realistic or imaginary assets. Please, let your creativity to shine. (

If you are not sure where to start, then ask your parents about your current house - why did they buy it, how much they pay currently for mortgage, utility, home insurance and all other expenses related to the house.

1) Please investigate an area where you plan to live (online resource):

- find taxes, insurance rates, cost of utilities.

2) For your “Dream house”, please, make a table with summary of your calculations:

- Mortgage calculator - , choose – Mortgage Loans, Purchase, 30-year fixed, enter your price for a house, credit score 740+ and a zip code of your desired property, then calculate your rate and the amount of mortgage.

- Home owner’s insurance:

, , , - or any other insurance agency.

- Cost of utilities. It is ok to estimate.

Please, summarize your numbers in a table.

3) Choosing a dream car:

- Research your options for a car – , and etc.

- Calculate payments for a car loan, Auto loan calculator: , choose - Auto loans, Purchase, New, Term – 60 months, choose the rate (range 3.5-5.5%) and calculate your monthly payment.

- Provide car insurance cost: , progressive. com, or any other car insurance agency.

4) Add together your annual payments for a house and a car, then calculate your future annual salary, so you can afford your dream house and a dream car. Your payments should be no more than 35% of your gross income or 25% of your take-home income (after all taxes and deductions).

Project length – 15-17 power point slides.

Presentation: 5-15 minutes, Power Point or a colorful poster.

Weight of the project: two grades – 1 test grade and 1 computer lab grade.

Have fun, choose wisely and be happy, healthy, wealthy and smart!

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Your success is in your own hands! Good luck!

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