Home Buying: Terms of a mortgage (Grades 6-8)

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Students will learn about some of the variables of a mortgage including amount of principal, length of mortgage, and interest rate. Students will calculate various scenarios to determine which of these three variables has the greatest impact. Students will also discuss interest rates to gain a better understanding of how compounding interest increases the interest paid on a mortgage. **Note that this module is part of PwC’s Earn Your Future™ financial literacy curriculum. The curriculum is composed of easy-to-follow lesson plans accompanied by interactive handouts. FinLit