Homework

Home Finance

Do the assignment at the end of Chapter 10 - Building Your Own Financial Plan.  Do the following:

Analysis
    Parts 1, 2, 3, 5
    Skip Part 4, the amortization schedules for year 1 and annual totals.
    When you make assumptions, such as how much a home goes up in value, state your assumption and why it's reasonable.

Decisions
    Parts 1, 2, 3.

You may do this using the pages from the text.  If you do that, be sure to write clearly!  My preference is a Word document or spreadsheet.

Deliverable:

Analysis and decisions

Grading Rubric:

  A B C D F
Professionalism Typed, stapled, no spelling or grammar errors.  Easy to read statements.
 Typed, stapled, no spelling, minor grammar errors.  Easy to read statements.
 Typed, stapled, minor spelling, grammar errors.  Easy to read statements.
Not stapled, spelling and grammar errors  Statements are not clear.
 Not typed or stapled.  Grammar and spelling errors.  Statements are not clear.
Analysis 1 Has done research on prices in area.
Has price estimates with monthly payments for 3 homes.		 Has done research on prices in area.
Has price estimates with monthly payments for 2 homes.		 Has price estimate with monthly payments for 1 home. Has price estimate with monthly payments for 1 home. No report.
Analysis 2 Calculated down payment.

Has discussion of how got the amount.		 Calculated reasonable down payment. Calculated down payment.   No information.
Analysis 3 Has information on 4 different mortgages.
Includes different term mortgages.		 Has information on 3 different mortgages.
Includes different term mortgages.		 Has information on 3 different mortgages. Has information on 2 different mortgages. Has information on 1 mortgage.
Analysis 5 Completes all data.
Reasonable data.
Explains assumptions and where got the numbers.		 Completes all data.
Explains assumption.		 Completes all data.   Not completed.
Decisions 1 Gives mortgage amount and down payment. 
Reasonable values.
Explains why/how values were arrived at.		 Gives mortgage amount and down payment. 
Reasonable values.		 Gives mortgage amount and down payment.  Gives mortgage amount or down payment.  Not completed.
Decisions 2 Gives good rationale for why fixed-rate or adjustable is better.
Gives good rationale for rate, payment, and term can afford		 Gives rationale for why fixed-rate or adjustable is better.
Gives rationale for rate, payment, and term can afford		 Says whether fixed-rate or adjustable is better.
Says what rate, payment, and term can afford.		 Answers either whether fixed-rate or adjustable is better or what rate, payment, and term can afford. Not completed.
Decisions 3 Gives good rationale about whether to rent or own.
If not strictly financially-based, gives reasonable rationale.		 Gives good rationale about whether to rent or own.
If not strictly financially-based, does not give reasonable rationale.		 Says whether to rent or own.
If not strictly financially-based, does not give reasonable rationale.		   Not completed.