Algebra Applications: Data Analysis, Segment 3: What Is a What is a Subprime Mortgage?
Having learned the general features of a mortgage, students learn the specifics of a subprime mortgage. With this comes the notion of a credit score, and with credit scores come the probabilities for a loan default. Students use the amortization table to run probability simulations to determine possible loan defaults on subprime mortgages.
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|Common Core Standards||CCSS.MATH.CONTENT.6.SP.B.5, CCSS.MATH.CONTENT.8.SP.A.1, CCSS.Math.Content.HSS -ID.B.6|
|Grade Range||6 - 9|
• Probability and Data Analysis
• Data Gathering
|Keywords||algebra, data analysis, math of money, financial math, mortgage crisis, amortization, amortization table, subprime mortgage|