Home
Sweet Home: Buying a House
Project URL: http://teachersnetwork.org/teachnet-lab/mbhs/alee/home.htm
How
it works:
The purpose of this program is to help students see the math
involved in fulfilling one of the American Dreams: buying a house. The students
use the Internet to find a home as well as the interest rates that banks
charge to finance that home. They go to the Student Project Page to
answer questions like: "You and your spouse are considering buying
a house that costs $189,000. You have $80,000 in your savings account
and have been waiting to go on a $30,000 world cruise. The remaining $50,000 will be used as a down
payment on the house. You've decided to finance the house with a 30-year
loan. Using Excel calculate the monthly payment of the loan." There are also writing assignments to help students evaluate
their decisions. Students will also present their findings to the
class.
Standards
addressed:
Students use a variety of strategies to understand new mathematical
content and develop more efficient solution methods or problem
extensions. They also understand the components of mathematical
modeling. Finally, students see that mathematics began long ago to help solve practical problems, but soon focused on abstractions
drawn from the world and then on abstract relationships among those
abstractions.
Materials used:
Students need a computer with Internet access and Microsoft Office
97, Excel, and Word software. They may also want to use PowerPoint
for their presentation.
The students:
Home Sweet Home is designed for 9th graders, but it can be adapted
for all grades studying algebra.
Overall value
This program enables students to become familiar with algebra, real-life
problem solving, interest problems, and math with spreadsheets. This
a great program for teachers who are tired of hearing "Why do we need
to know this?" This project illustrates how algebra is helpful in
realizing one of life's great dreams: buying a home. Students will be
challenged to look for a "dream" home and an affordable
interest rate. They then calculate how much they need to pay per month
to finance it. This makes good use of the Internet as well as
spreadsheets and presentation software. Students think creatively and
learn how math affects them in their lives.
Tips
for the teacher:
An answer
key is provided, but teachers should try the math part of the project
before they assign it to their students. They should also understand the
formulas in Excel first.
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About the teacher:
Angela Lee is a high school math teacher at Murry Bergtraum High
School. She received her Bachelor and Masters degree from New York
University.
Email: aql9710@hotmail.com
Subject
Areas:
Math
English
Grade
Level: 9-12
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