Sorry folks! If I miss a day I get out of habit! So I will write this blog pretending it is Monday. Today we worked through questions that students had about the lesson they worked through on their own on Friday that was about Conditions of an Annuity. From there, we moved on to Mortgages and Amortization:
Working through the first two questions solidified their understanding of solving mortgage questions. We then looked at a piece of an amortization table and worked through figuring out what each piece is. This worked well. Then we looked at more of an amortization table:
What you don't see here is the discussion that we had as a class. I don't really know how to blog that. But we discussed the patterns and why an amortization table is useful etc. We talked about how each line is calculated and why the interest column goes down and the principal column goes up. It wasn't an exciting class but students were interested. They had already done some leg-work and understood some of the terminology and now we are just fleshing out more of the details. Once we finish this section, they will be able to read a bank's information about mortgages and really understand what they are reading. I think because they could see that what they were learning was useful, they were engaged without the bells and whistles. While we will see some of the formulas later in the course, I think that using the TVM Solver now freed them up a little bit so they were able to think big picture as well. I got that higher level thinking out of them. Onward ho!
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