warm up define the terms weeklybiweeklysemimonthlymonthlybimonthlyquarterlysemiannually

WARM UPWARM UP

Define the termsDefine the terms

WeeklyWeekly

BiweeklyBiweekly

SemimonthlySemimonthly

MonthlyMonthly

BimonthlyBimonthly

QuarterlyQuarterly

SemiannuallySemiannually

WEEKWEEK

Today 4-1Today 4-1 Tom go over testTom go over test Wed 4-2Wed 4-2 Thursday (absent) wkst on 4-1 and 4-Thursday (absent) wkst on 4-1 and 4-

22 Friday Quiz on 4-1 and 4-2Friday Quiz on 4-1 and 4-2

Consumer Consumer FinanceFinance

Chapter 4: Managing a Chapter 4: Managing a HouseholdHousehold

Lesson 1: Renting a HomeLesson 1: Renting a Home

4-1 VOCAB4-1 VOCAB

LandlordLandlord a person who owns and a person who owns and rents property to other peoplerents property to other people

LeaseLease a contract to rent property a contract to rent property AnnualAnnual Yearly; relating to a period Yearly; relating to a period

of 12 monthsof 12 months

DirectionsDirections

Find annual salary then divide by 52Find annual salary then divide by 52 U should spend 1 week earnings on rentU should spend 1 week earnings on rent This saves you money for other bills and This saves you money for other bills and

food etc.food etc.

I DOI DO

Calculate the maximum amount of money Calculate the maximum amount of money that should be spent on rentthat should be spent on rent

1. $1300 per month1. $1300 per month 2. $14,000 per year2. $14,000 per year 3. $566 bi weekly3. $566 bi weekly 4. $24,575 per year4. $24,575 per year

You doYou do

Calculate the maximum amount of Calculate the maximum amount of money that should be spent on rentmoney that should be spent on rent

1. $1500 per month1. $1500 per month 2. $32,000 per year2. $32,000 per year 3. $820 bi weekly3. $820 bi weekly 4. $22,456 per year4. $22,456 per year


Multiply by 40Multiply by 40 U should spend 1 week earning on rentU should spend 1 week earning on rent

I doI do Find the maximum amount of Find the maximum amount of

money the person can spend on money the person can spend on rentrent

1. $6.90 per hour1. $6.90 per hour 2. $8.85 per hour2. $8.85 per hour 3. $14.00 per hour3. $14.00 per hour 4. $8.39 per hour4. $8.39 per hour

We DoWe Do

Find the maximum amount of money Find the maximum amount of money the person can spend on rentthe person can spend on rent

1. $9.80 per hour1. $9.80 per hour 2. $16.00 per hour2. $16.00 per hour 3. $7.35 per hour3. $7.35 per hour 4. $8.25 per hour4. $8.25 per hour


Multiply by 12Multiply by 12

I DOI DO

Find the annual rent paid for each Find the annual rent paid for each monthly rentmonthly rent

1. $640.001. $640.00 2. $256.502. $256.50 3. $488.883. $488.88 4. $248.904. $248.90

You DoYou Do

Find the annual rent paid for each Find the annual rent paid for each monthly rentmonthly rent

1. $307.001. $307.00 2. $456.362. $456.36 3. $367.893. $367.89 4. $1,275.004. $1,275.00

REVIEWREVIEW

Today we learned how to calculate Today we learned how to calculate rental charges and amount of money rental charges and amount of money spent on rent per yearspent on rent per year

HOMEWORKHOMEWORK

Find the maximum amount of rent Find the maximum amount of rent aloud to spendaloud to spend

1. $8,146 per month1. $8,146 per month 2. 2. $1,256 every two weeks $1,256 every two weeks 3. 3. $18,450 annually $18,450 annually 4. 4. $3,549 monthly $3,549 monthly 5. 5. $2,894 biweekly$2,894 biweekly

WARM UPWARM UP

Compare and contrast renting a home Compare and contrast renting a home vs buying a homevs buying a home



Lesson 2: Buying a HomeLesson 2: Buying a Home

4-2 VOCAB4-2 VOCAB

Down PaymentDown Payment Part of the price Part of the price paid at the time of the purchasepaid at the time of the purchase

FinancedFinanced Borrowed Borrowed MortgageMortgage A property loanA property loan PrinciplePrinciple The amount of money The amount of money

loaned to a creditorloaned to a creditor InterestInterest A payment charged to the A payment charged to the

borrower for the use of moneyborrower for the use of money

DIRECTIONSDIRECTIONS

Multiply Annual salary Multiply Annual salary by banker’s ruleby banker’s ruleBanker’s RuleBanker’s Rule

A person may borrow up A person may borrow up to 2.5 times the annual to 2.5 times the annual incomeincome

I DOI DO

Calculate the amount of money Calculate the amount of money a person can borrow from a a person can borrow from a bank given their annual salarybank given their annual salary

1. $26,0001. $26,0002. $32,8702. $32,8703. $63,5603. $63,560

WE DOWE DO

Calculate the amount of Calculate the amount of money a person can borrow money a person can borrow from a bank given their from a bank given their annual salaryannual salary

1. $26,7501. $26,7502. $85,7202. $85,7203. $45,2503. $45,250

You DoYou Do

Calculate the amount of Calculate the amount of money a person can borrow money a person can borrow from a bank given their from a bank given their annual salaryannual salary

1. $18,4401. $18,4402. $24,3902. $24,3903. $48,2803. $48,280


How many hours are in a How many hours are in a week?week?

How many weeks are in a How many weeks are in a year?year?Multiply those 2 answers Multiply those 2 answers togethertogetherThis is your multiplying numberThis is your multiplying number

I DOI DOFind the amount borrowed Find the amount borrowed for each hourly wagefor each hourly wage

1. $6.001. $6.002. $8.002. $8.003. $6.493. $6.49

WE DOWE DO

Find the amount Find the amount borrowed for each hourly borrowed for each hourly wagewage

1. $8.321. $8.322. $13.252. $13.253. $7.953. $7.95

You DoYou Do

Find the amount Find the amount borrowed for each hourly borrowed for each hourly wagewage

1. $7.351. $7.352. $11.002. $11.003. $8.253. $8.25


Divide amount of the Divide amount of the mortgage by banker’s mortgage by banker’s ruleruleBanker’s RuleBanker’s Rule

A person may borrow up to A person may borrow up to 2.5 times the annual income2.5 times the annual income

I DOI DO

Find the minimum annual Find the minimum annual income needed for these income needed for these mortgagesmortgages

1. $35,0001. $35,0002. $40,0002. $40,0003. $80,0003. $80,000

WE DOWE DO


1. $45,0001. $45,0002. $62,7502. $62,7503. $125,5003. $125,500

You DoYou Do


1. $75,0001. $75,0002. $60,0002. $60,0003. $56,0003. $56,000

REVIEWREVIEW

Today we learned how to Today we learned how to calculate the amount of calculate the amount of money a person can borrow money a person can borrow from a bank and the from a bank and the minimum salary needed to minimum salary needed to mortgage a homemortgage a home

HOMEWORKHOMEWORK

Find ANNUAL INCOME and Find ANNUAL INCOME and Maximum amount of money that Maximum amount of money that can be borrowedcan be borrowed

1. 1. MakaylaMakayla $8,146 per month $8,146 per month 2. 2. Jared Jared $1,256 every two weeks $1,256 every two weeks 3. 3. Brooke Brooke $18,450 annually $18,450 annually 4. 4. Marissa Marissa $3,549 monthly $3,549 monthly 5. 5. Ian Ian $2,894 biweekly$2,894 biweekly

WARM UPWARM UPChange % to decimalChange % to decimal

1.1.15%15%

2.2.34%34%

3.3.28%28%

SolveSolve

4.4.125,000 x .25125,000 x .25

5.5.436,500 x .30436,500 x .30



Lesson 3: Computing Lesson 3: Computing Down PaymentDown Payment

4-3 VOCAB4-3 VOCAB

NONENONE when a when a person has zero person has zero definitions to copy definitions to copy down in their notedown in their note

DirectionsDirectionsChange % to a decimalChange % to a decimalMultiply decimal and Cost Multiply decimal and Cost = = Down Payment (DP)Down Payment (DP)

Subtract Cost – DP = Subtract Cost – DP = MortgageMortgage

I DOI DO

Calculate the DP and MortgageCalculate the DP and Mortgage

CostCost Rate of DPRate of DP

1.1.$125,900$125,900 15%15%

2.2.$135,600$135,600 20%20%

3.3.$245,000$245,000 30%30%

4.4.$357,500$357,500 25%25%

WE DOWE DO


CostCost Rate of DPRate of DP$85,750$85,750 20%20%$195,350$195,350 17%17%$495,830$495,830 19%19%$723,250$723,250 32%32%

You DoYou Do


CostCost Rate of DPRate of DP$158,999$158,999 23%23%$293,725$293,725 37%37%$645,190$645,190 17%17%$725,750$725,750 28%28%

REVIEWREVIEW

Today we learned Today we learned how to calculate how to calculate down payment and down payment and mortgagesmortgages

HOMEWORKHOMEWORK


CostCost Rate of DPRate of DP

1.1.$350,000$350,000 15%15%

2.2.$475,250$475,250 20%20%

3.3.$500,250$500,250 34%34%

4.4.$850,200$850,200 23%23%

WARM UPWARM UP

1. 660 x 121. 660 x 12 2. ANSWER x 302. ANSWER x 30 3. ANSWER – 90,0003. ANSWER – 90,000 4. 925 x 124. 925 x 12 5. ANSWER x 305. ANSWER x 30 6. ANSWER – 110,0006. ANSWER – 110,000



Lesson 4: Paying the Lesson 4: Paying the MortgageMortgage

2-4 VOCAB2-4 VOCAB

Fixed-Rate MortgageFixed-Rate Mortgage a loan in a loan in which the mortgage rate and which the mortgage rate and payments remain the samepayments remain the same

Variable-Rate MortgageVariable-Rate Mortgage a loan in a loan in which the mortgage rate and which the mortgage rate and payments change over timepayments change over time

Total InterestTotal Interest a total fee for a total fee for borrowing moneyborrowing money

Directions (Find Monthly Directions (Find Monthly Payments)Payments)

Turn to page 88Turn to page 88 Find the mortgage in the left columnFind the mortgage in the left column Go right until you find the Interest Go right until you find the Interest

raterate

I DOI DOMortgageMortgage Interest Interest

RateRate 1. $40,0001. $40,000 9%9% 2. $70,0002. $70,000 12%12% 3. $100,0003. $100,000 10.5%10.5%

WE DOWE DO

MortgageMortgage Interest RateInterest Rate 1. $90,0001. $90,000 8.5%8.5% 2. $70,0002. $70,000 12.5%12.5% 3. $60,0003. $60,000 11%11%

YOU DOYOU DO

MortgageMortgage Interest RateInterest Rate 1. $50,0001. $50,000 9.5%9.5% 2. $80,0002. $80,000 12%12% 3. $110,0003. $110,000 7.5%7.5%

Directions (Find Amount Directions (Find Amount Paid and Total Interest)Paid and Total Interest)

Turn to page 88Turn to page 88 Find the mortgage in the left columnFind the mortgage in the left column Go right until you find the Interest rateGo right until you find the Interest rate

Multiply this by 12 (this gives you amount Multiply this by 12 (this gives you amount for 1 year)for 1 year)

Multiply this by 30 (Most mortgages are Multiply this by 30 (Most mortgages are paid over 30 years)paid over 30 years)

This is the AMOUNT PAIDThis is the AMOUNT PAID Subtract that answer from the mortgageSubtract that answer from the mortgage

This is the TOTAL INTERESTThis is the TOTAL INTEREST

I DOI DOMortgageMortgage Interest Interest

RateRate 1. $40,0001. $40,000 9%9% 2. $70,0002. $70,000 12%12% 3. $100,0003. $100,000 10.5%10.5%

WE DOWE DO

MortgageMortgage Interest RateInterest Rate 1. $90,0001. $90,000 8.5%8.5% 2. $70,0002. $70,000 12.5%12.5% 3. $60,0003. $60,000 11%11%

YOU DOYOU DO

MortgageMortgage Interest RateInterest Rate 1. $50,0001. $50,000 9.5%9.5% 2. $80,0002. $80,000 12%12% 3. $110,0003. $110,000 7.5%7.5%

REVIEWREVIEW

Today we learned how to find Today we learned how to find monthly mortgage rates, amount monthly mortgage rates, amount paid over time and total interestpaid over time and total interest

HOMEWORKHOMEWORK

Find the monthly rate, then Find the monthly rate, then amount paid, then total interest amount paid, then total interest (3 answers)(3 answers)

MortgageMortgage Interest RateInterest Rate 1. $40,0001. $40,000 10%10% 2. $70,0002. $70,000 12%12% 3. $60,0003. $60,000 8.5%8.5%

WARM UPWARM UP

1. 85000/10001. 85000/1000 2. Answer x 9.82. Answer x 9.8 3. 75000/10003. 75000/1000 4. Answer x 8.394. Answer x 8.39



Lesson 5: Terms of Lesson 5: Terms of Mortgages DifferMortgages Differ

4-5 VOCAB4-5 VOCAB

TermTerm The period of time for which The period of time for which money is loanedmoney is loaned

Directions (Find Monthly Directions (Find Monthly Payments)Payments)

STEP 1STEP 1 Divide Principle/1000Divide Principle/1000

Step 2Step 2 Turn to page 90Turn to page 90 Find the years in the left columnFind the years in the left column Go right until you find the Interest rateGo right until you find the Interest rate

Step 3Step 3 Multiply 2 answersMultiply 2 answers

I DOI DOInterest RateInterest Rate TermTerm PrincipalPrincipal

1. 10%1. 10% 15 years15 years$10,000$10,000

2. 9%2. 9% 25 years25 years$30,000$30,000

3. 7%3. 7% 30 years30 years$45,000$45,000

WE DOWE DO

Interest RateInterest Rate TermTerm PrincipalPrincipal 1. 11%1. 11% 40 years40 years

$50,000$50,000 2. 8%2. 8% 20 years20 years

$35,900$35,900 3. 12%3. 12% 35 years35 years

$45,900$45,900

YOU DOYOU DO

Interest RateInterest Rate TermTermPrincipalPrincipal

1. 10%1. 10% 15 years15 years $57,890$57,890

2. 8%2. 8% 20 years20 years $100,000$100,000

Directions (Compute total Directions (Compute total amount repaid on a amount repaid on a

mortgage of $90,000)mortgage of $90,000) Step 1Step 1 90000/100090000/1000

Step 2Step 2 Turn to page 90Turn to page 90 Find the years in the left columnFind the years in the left column Go right until you find the Interest rateGo right until you find the Interest rate

Step 3Step 3 Multiply 2 answersMultiply 2 answers

Step 4Step 4 Multiply answer by 12 (months in a year) and Multiply answer by 12 (months in a year) and

by termby term

I DOI DOInterest RateInterest Rate TermTerm

1. 8%1. 8% 15 years15 years 2. 8%2. 8% 20 years20 years 3. 8%3. 8% 25 years25 years

WE DOWE DO

Interest RateInterest Rate TermTerm 1. 8%1. 8% 30 years30 years 2. 8%2. 8% 35 years35 years 3. 8%3. 8% 40 years40 years

YOU DOYOU DO

Interest RateInterest Rate TermTerm 1. 7%1. 7% 15 years15 years 2. 7%2. 7% 30 years30 years

REVIEWREVIEW

Today we learned how to find Today we learned how to find monthly payments on a principal and monthly payments on a principal and the amount paid back over timethe amount paid back over time

HOMEWORKHOMEWORK

Find the monthly rate, then amount Find the monthly rate, then amount paid back (2 answers)paid back (2 answers)

Interest RateInterest Rate TermTerm PrincipalPrincipal 1. 13%1. 13% 20 years20 years $75,000$75,000 2. 8%2. 8% 35 years35 years $55,500$55,500 3. 10%3. 10% 25 years25 years $80,250$80,250

WARM UPWARM UP

1. 2+2+4+3+7+91. 2+2+4+3+7+9 2. Answer/62. Answer/6 3. 7+11+13+15+17+23+563. 7+11+13+15+17+23+56 4. Answer / 74. Answer / 7



Lesson 7: Utility Lesson 7: Utility ConsumptionConsumption

2-4 VOCAB2-4 VOCAB

UnitsUnits a fixed amount or quantity used as a a fixed amount or quantity used as a standardstandard

Cubic FeetCubic Feet units used to measure volume units used to measure volume AverageAverage middle point in a group of middle point in a group of

numbersnumbers Kilowatt-hour (kWh)Kilowatt-hour (kWh) energy used in 1 energy used in 1

hourhour WattWatt unit of electricty unit of electricty KilowattKilowatt unit of electricity equal to 1000 unit of electricity equal to 1000

wattswatts

Directions (Find Units)Directions (Find Units)

Step 1Step 1 Subtract the amounts in the monthsSubtract the amounts in the months

UNITSUNITS

Step 2Step 2 Multiply units x 100Multiply units x 100

CUBIC FEETCUBIC FEET

I DO/YOU DOI DO/YOU DOMO.MO. Yr. 1Yr. 1 Yr. 2Yr. 2

JanJan 13911391 15061506

AprilApril 14451445 15421542

JulyJuly 14621462 15701570

OctOct 14881488 15841584

1.1. April to July yr 1April to July yr 1 4. Jan to April yr 24. Jan to April yr 2

2.2. July to Oct yr 1July to Oct yr 1 5. April to July yr 25. April to July yr 2

3.3. Oct to JanOct to Jan 6. July to Oct yr 26. July to Oct yr 2

Directions (Find Units and Directions (Find Units and Total)Total)

Step 1Step 1 Subtract the amounts in the monthsSubtract the amounts in the months

UNITS USEDUNITS USED

Step 2Step 2 Multiply units x rateMultiply units x rate

TOTALTOTAL

I DO/ WE DOI DO/ WE DO

DecDec 89178917 RATE = $0.75RATE = $0.75 1. Jan1. Jan 92659265 2. Feb2. Feb 94029402 3. Mar3. Mar 00540054 4. Ap4. Ap 01950195 5. May5. May 03620362 6. June6. June05910591

YOU DOYOU DO

DecDec 6699566995 RATE = RATE = $0.09$0.09

1. Jan1. Jan 6761167611 2. Feb2. Feb 6818468184 3. Mar3. Mar 6870068700

Directions (Find Average)Directions (Find Average)

Step 1Step 1 Add all numbersAdd all numbers

Step 2Step 2 Divide by how many numbersDivide by how many numbers

I DO I DO

1. 653, 597, 562, 6161. 653, 597, 562, 616 2. 542, 506, 488, 445, 391, 2. 542, 506, 488, 445, 391,

366366

WE DOWE DO

1. 36, 18, 26, 17, 54, 25, 191. 36, 18, 26, 17, 54, 25, 19 2. 2. 29, 29, 46, 348, 137, 652, 29, 29, 46, 348, 137, 652,

262, 135, 14262, 135, 14

YOU DOYOU DO

1. 1. 1267, 573, 555, 558, 670, 532, 552, 1267, 573, 555, 558, 670, 532, 552, 480, 509, 747480, 509, 747

2. 566, 653, 597, 562, 616, 2. 566, 653, 597, 562, 616, 572572

REVIEWREVIEW

Today we learned how to find units Today we learned how to find units consumed, our total bill, and consumed, our total bill, and average units consumedaverage units consumed

HOMEWORKHOMEWORK

DecDec 12341234 RATE = $0.35RATE = $0.35 1. Jan1. Jan 15891589 2. Feb2. Feb 21352135 3. Mar3. Mar 24672467

4. Find the average units used4. Find the average units used

WARM UPWARM UP

1. 312 + 451. 312 + 45 2. .35 + .462. .35 + .46 3. 2.5 + 3.133. 2.5 + 3.13 4. 45.35 + 51 .874. 45.35 + 51 .87 5. 23.45 + 54.32 5. 23.45 + 54.32



Lesson 8: Telephone, Gas, Lesson 8: Telephone, Gas, And Electric Bills And Electric Bills

VOCABVOCAB

Flat Rate Flat Rate is a base amount charged for is a base amount charged for monthly telephone servicemonthly telephone service

OptionalOptional is involving a personal choice is involving a personal choice Make-Up Work Make-Up Work is when you have a day, is when you have a day,

like tomorrow, to grab all your missing like tomorrow, to grab all your missing assignment…these assignments are due assignment…these assignments are due on Thursday…if you do not turn them in on Thursday…if you do not turn them in by Thursday your grade will lock at zero…by Thursday your grade will lock at zero…The highest grade I will give on a make up The highest grade I will give on a make up assignment is a 70assignment is a 70

Telephone BillsTelephone Bills

Find the total when the person has a Find the total when the person has a flat rate of $21.15 and uses call flat rate of $21.15 and uses call waiting rate of $5.05waiting rate of $5.05

Long DistanceLong Distance TaxesTaxes

1. $11.211. $11.21 $1.44$1.44

2. $22.312. $22.31 $2.48$2.48

3. $12.573. $12.57 $1.31$1.31

Telephone - weTelephone - we

Find the total when the person has a Find the total when the person has a flat rate of $49.95 and uses internet flat rate of $49.95 and uses internet rate of $10.00rate of $10.00

OverageOverage TaxesTaxes

1. $9.351. $9.35 $0.44$0.44

2. $17.192. $17.19 $3.25$3.25

3. $42.653. $42.65 $5.45$5.45

Telephone-youTelephone-you

Find the total when the person has a Find the total when the person has a flat rate of $65.95 and uses flat rate of $65.95 and uses unlimited text rate of $15.00unlimited text rate of $15.00

OverageOverage TaxesTaxes

1. $21.341. $21.34 $2.74$2.74

2. $19.342. $19.34 $5.68$5.68

3. $2.523. $2.52 $1.99$1.99

Bill – IBill – I Find Total BillFind Total Bill

MonthMonth GasGas ElecElecPhonePhone

JanJan $60.32$60.32 $31.44$31.44$18.90$18.90

FebFeb $135.73$135.73 $30.95$30.95$18.65$18.65

MarMar $113.39$113.39 $33.23$33.23$23.89$23.89

Bill - YouBill - You

Find Total BillFind Total Bill

MonthMonth GasGas ElecElecPhonePhone

AprilApril $71.72$71.72 $31.69$31.69$30.18$30.18

MayMay $48.12$48.12 $31.05$31.05$26.85$26.85

JuneJune $24.67$24.67 $38.57$38.57$19.05$19.05

SummarySummary

Today we learned how to Today we learned how to calculate our total bill for calculate our total bill for multiple services.multiple services.

HomeworkHomework

WorksheetWorksheet

WARM UPWARM UP

DecDec 12341234 RATE = $0.35RATE = $0.35 1. Jan1. Jan 15891589 2. Feb2. Feb 21352135 3. Mar3. Mar 24672467

4. Find the average units used4. Find the average units used



Lesson 9: Mortgage Lesson 9: Mortgage Insurance Insurance

VOCABVOCAB

Mortgage Insurance Mortgage Insurance is a policy is a policy that pays all or part of the balance that pays all or part of the balance owed on a homeowed on a home

ReminderReminder is a friendly way of is a friendly way of telling you that all make up work is telling you that all make up work is due tomorrowdue tomorrow


1.Turn to page 102 (or look on the 1.Turn to page 102 (or look on the worksheet) worksheet)

2.Find the % by using the year of 2.Find the % by using the year of mortgage and year in deathmortgage and year in death

3.Multiply the % and the mortgage3.Multiply the % and the mortgage

I doI do

Policy Year Death Occurs Policy Year Death Occurs Years of MortgageYears of MortgageAmount of MortgageAmount of Mortgage

1.1. 1010 1515 $40,000$40,000

2.2. 55 2525 $33,500$33,500

3.3. 2525 3030 $25,700$25,700

We doWe do

Policy Year Death Occurs Policy Year Death Occurs Years of MortgageYears of MortgageAmount of MortgageAmount of Mortgage

1.1. 1515 1515 $10,000$10,000

2.2. 3030 3030 $95,800$95,800

3.3. 2020 2525 $88,000$88,000

You DoYou Do

Policy Year Death Occurs Policy Year Death Occurs Years of Mortgage Years of Mortgage Amount of MortgageAmount of Mortgage

1515 2020 $50,000$50,000 55 2525 $45,000$45,000 55 2020 $85,000$85,000

SummarySummary

Today we learned how to find Today we learned how to find the amount paid back in an the amount paid back in an unfortunate situation.unfortunate situation.

HomeworkHomework

WorksheetWorksheet

WARM UPWARM UP

1.1. 89200 x .52689200 x .526

2.2. 75000 x .003575000 x .0035

3.3. 125000 x .0055125000 x .0055

4.4. 100500 x .0035100500 x .0035

5.5. 75250 x .009575250 x .0095



Lesson 10: Homeowners Lesson 10: Homeowners Insurance Insurance

VOCABVOCAB

Homeowners Insurance Homeowners Insurance is a is a policy that pays for loss from fire or policy that pays for loss from fire or other natural disasterother natural disaster

Coverage RateCoverage Rate is the percentage is the percentage paid for homeowners insurance paid for homeowners insurance protectionprotection


AREAAREA CONSTRUCTIONCONSTRUCTION RATERATE

AA BrickBrick .36%.36%

AA WoodWood .46%.46%

BB BrickBrick .42%.42%

BB WoodWood .54%.54%

CC BrickBrick .325%.325%

CC WoodWood .444%.444%

DD BrickBrick .395%.395%

DD WoodWood .518%.518%

I doI do

AREAAREA CONSTRUCTIONCONSTRUCTION VALUEVALUE

1. A1. A BrickBrick$67,000$67,000

2. C2. C WoodWood$64,470$64,470

3. B3. B BrickBrick$101,000$101,000

We doWe do

AREAAREA CONSTRUCTIONCONSTRUCTIONVALUEVALUE

1. D1. D BrickBrick$150,000$150,000

2. C2. C Brick Brick $99,900$99,900

3. A3. A Wood Wood $75,000$75,000

You DoYou Do

AREAAREA CONSTRUCTIONCONSTRUCTION VALUEVALUE

1. B1. B WoodWood$150,000$150,000

2. D2. D Wood Wood $75,980$75,980

3. C3. C Brick Brick $125,690$125,690

SummarySummary

Today we learned how to find Today we learned how to find the amount paid back in an the amount paid back in an unfortunate situation that unfortunate situation that happens to the home.happens to the home.

HomeworkHomework

AREAAREA CONSTRUCTIONCONSTRUCTIONVALUEVALUE

1. A1. A WoodWood$175,350$175,350

2. D2. D Wood Wood $69,250$69,250

3. C3. C Brick Brick $115,950$115,950

warm up define the terms weeklybiweeklysemimonthlymonthlybimonthlyquarterlysemiannually

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