To start off the class, we first did mental math, which consisted mostly of memory questions from our former lessons,
We then started our lesson for the day which was 'Calculating Mortgage Payments.' We talked about different types of mortgages Open Mortgages, and Variable-Rate Mortgages.
Mak then showed us how mortgage payments have two different parts, Principal and Interest, which are combined to usually make a monthly payment.
He then showed us, through a spreadsheet on Excel, how to figure our your Princical , Interest, Unpaid Balance, Owners Equity.
He also showed us how to find take the monthly payment and find the interest, which is I=p*r*t
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