Quantative Literacy
MATH 1050 College Algebra
For this class, I have completed one Signature Assignment relating to mortgage and house payments. We were to use the provided formulas to complete each question as well as an amortization website for other questions. |  |
Reflection on MATH 1050 Mortgage Project
From doing this project, I was able to learn that making house payments was not completely as easy as I first thought it was. As someone who is still too young to purchase a home, I had always thought that all that was necessary was to buy the home and make the monthly payments for the bills and mortgage. But doing this project allowed me to see that there’s a lot more to it than that. There are many things to take into consideration such as the gross payment, net pay, mortgage payments, and the interest. This also showed that it takes a lot of responsibility when buying a home and that you’d have to be financially stable in order to do so. It’s important to know how much you need to make from a job to pay the minimum and the advantages of making extra payments. As a youth, there is still much to learn about the financial world; this is just a small part of what adults are responsible for.
