Then we went further on into the unit of Personal Finance.
We took a couple notes then learned how to do it on microsoft excel.
One of the definitions we did was:
Equity- the difference between the market value of a property and the claims held against it
In other words means, what you own and what the bank owns..
this is a screenshot I took of how to add up the math with the interest and such.
this is another one which explains what questions we should ask when adding everything together..
And the final step we need to do to solve it. Knowing how much the bank charges for interest and everything, as Bender said, no one would probably want to buy a house after paying that much interest.
This is pretty much what we did during class. It was the last day before Spring Break and there was no homework assigned. Hope Ya'll have a great spring break!! Have fun at Eric Clapton Max. TTFN ta ta for now :)
p.s here was something Max showed us about what's going on across the world
http://www.emporis.com/en/wm/bu/?id=burjdubai-dubai-unitedarabemirates
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