Education Technology

# Activities

• ##### Subject Area

• Math: Math General: General

9-12

60 Minutes

• ##### Device
• TI-83 Plus Family
• TI-84 Plus
• TI-84 Plus Silver Edition
• ##### Other Materials
This is Activity 9 from the EXPLORATIONS Book:
Time, Value, Money: Applications on the TI-83.

## Loans and Mortgages

#### 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