I’m studying for my Mathematics class and need an explanation.
Prior to beginning work on this discussion, read Chapter 4: Managing Money and Chapter 8: Exponential Astonishment in your course text.
Your instructor will assign you to one of the three groups: Group A, Group B, or Group C. Your instructor will also assign you a number. Do the problem based on the number assigned to you by your instructor. Then, respond to at least three different peers from your own group.
- The actual group discussion will function the same as any other discussion. You will only be able to participate and discuss with those peers assigned to your same group.
- In order to view your peers’ work and respond to their posts, you need to submit your completed work by Day 4 (Friday). You will not be able to view your group’s posts until after you have replied with your completed problem. Also, re-submissions are not allowed in this class.
- Your initial post should be at least 250 words in length. It should show all the required math work and explain all the steps. Also include a simple reference for any used resource. For example: Washington Post dated August 13, 2018 or retrieved from <url-address>.
- Your initial discussion thread is due on Day 4 (Friday), and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Carefully review the Grading Rubric for guidance on how your discussion will be evaluated.
Guided Response: Respond to at least three different peers from your own group by Day 7. Have they answered all the questions pertaining to their problem? Have they used all the required resources and cited the references correctly? Do you understand their answers and agree with their conclusions and viewpoints? What are your arguments against their answers? Remember, in order to view your peers’ work and respond to their posts you need to submit your completed work by Day 4. Without your submission, their posts will not be viewable to you.
Imagine you work for an accounting firm and a client has told you he needs a loan of $120,000 to purchase a house. His monthly income is $4000, and he is single with no children. He has $14,000 in savings that can be used for a down payment. Based on this information, complete the following.
• Find the current rates available from local banks for both fixed rate mortgages and adjustable rate mortgages (ARMs).
• Analyze the offerings and summarize in writing the best options for your client, along with the pros and cons of each option.