Quantitative Literacy
MATH 1050: College Algebra
This course's assignments were all done and turned in over MathXL. Adding a computer into the daily norm of the class was a well thought-out decision that made doing assignments more efficient.
The key project this semester was the mortgage calculation project. Since I was also taking Personal Finance at the time, it proved to be a very useful endevour.
Reflection:
Going into this project, I hardly knew how significant a payment plan for a house mortgage could be. I figured you just made payments for a long time and moved right after you finally owned a home. However, after this assignment I realized that there’s a difference in the way you pay mortgages from what I originally thought. Not only is making a smart payment plan a noteworthy thing in our recession, it also says something about the character of the one making the payments.
Interest is terrible. That’s one of the many ideas I’ve derived from this assignment. No matter how quickly you try and pay your house mortgage, the interest can easily double the original total you bought it for. But even so, the quicker you pay off your mortgage, the less your entire total will be paid towards interest. Also, I realized that planning out an affordable but quick payment plan is relatively easy if you are just willing to sit down and think it through.
In the end, this house mortgage project made me confident about my future. When I buy a house, I will do it to the best of my knowledge and not be a victim of foreclosure. Upon thinking about this subject more, I realize that this assignment doesn't just address paying off a mortgage. It teaches you that you will be well-off financially if you are willing to take a look at the numbers and not be afraid to do the math.
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