Activity Overview
In this activity, students perform financial computations, involving loans, their repayment and mortgages used as security for the repayment of a loan.
Before the Activity
Select TVM Solver from the calculator menu
See the attached activity PDF file for detailed instructions for this activity
Print page 22-23 from the attached PDF file for your class
During the Activity
Distribute the pages to the class.
Follow the Activity procedures:
Calculate the monthly payments to be made as repayment of a loan, using N, I%, P/Y, and C/Y values
Calculate the maximum loan amount for a given monthly repayment amount using N, I%, PMT, P/Y, and C/Y values
After the Activity
Review student results:
As a class, discuss questions that appeared to be more challenging
Re-teach concepts as necessary