Gr. 12 Math (4C)‎ > ‎

Unit 5 - Annuities & Mortgages (Ch. 7)

In this unit, students will solve problems involving annuities and mortgages. They will gather and interpret information about annuities and mortgages - an important part of their future. Annuities are used to save and pay for expenses such as a car, a home, education, and retirement. Understanding the mathematics of annuities and mortgages will help students manage money more effectively in order to achieve financial goals.

 As usual, this outline is subject to change without notice. Attend class for the most up-to-date version. 
Topic Homework Date
GET READY  (Activating Prior Knowledge)
        ↪ Simple Interest & Compound Interest  (two videos)
         Compound Interest Video


Note - there is a test for this unit.
Read & Do:
    Pg. 406 # 1-3
    Pg. 407 # 1-3

Simple Practice


5.1 (7.1) - The Amount (FA or FV) of an Annuity

A equals R times open bracket open paren 1 plus i close paren to the nth power minus 1 close bracket over i⁣
Read: Pg. 409 - 414
Do: Pg. 415 # 2, 3, 6, 7, 9, 12ab

TVM Solver Website
Annuities Spreadsheet Calculator

G.Sheets Formula:
    =FV(r, n, PMT, P, [end_or_beginning])
Wed. April 17
5.2 (7.2) - Present Value (PV) of an Annuity

Read: Pg. 419 - 422
Do:  Pg. 424 # 1c, 4ad, 8-10

TVM Solver Website

G.Sheets Formula:
    =PV(r, n, PMT, [FV], [end or begin])
Tues.
April
23
5.3 (7.3) - Regular Payments  (R or PMT)
        ↪ Calculating the regular payments of PV or FV
        ↪ Requires strong algebra skills (or TVM solver)


Read: Pg. 426-429
Do: Pg. 430 # 2a, 4ac, 6-11

TVM Solver Website

G.Sheets Formula:
    =PMT(r, n, PV, [FV], [end or begin])
Wed. April 24
 In-Class Assignment on 5.1 - 5.3Due end of class Friday April 26th 
5.4 (7.4) - Annuities and Spreadsheets
        ↪ In-class: Annuities   and   Loans using spreadsheets.
                         (Questions 2-6)   (Questions 8-10)
Read: Pg. 433-438
Using the spreadsheets linked at the left, follow the textbook and complete questions 2-6 and 8-10

7.6 & 7.7 - What is a Mortgage?

Read: Pg. 444
Do: Pg. 445 # 1-5
Mon. April 29th
Mortgages Continued
        ↪ Mortgage calculating spreadsheet

Read: Pg. 446-450
Do: Pg. 445 # 1-5
Do: Pg. 450 # 3ac, 4a, 6, 7ab, 8, 13
Tues. April 30th
Review of Ch. 7 (day 1)Review Do: Pg. 468 # 1-13, 15-18

Wed. May 1st
Review of Ch. 7 (day 2)
Practice Test: Pg. 471 # 1-7

Thurs. May 2nd
Unit Test 
*** TEST DATE - MONDAY MAY 6th
                        (Trust me - don't skip it)

In-ClassMonday May 6th