- MA.912.FL.3.9: Compare the advantages and disadvantages of different types of mortgage loans by manipulating a variety of variables and calculating fees and total cost using spreadsheets and other technology.Clarifications:Clarification 1: Instruction includes understanding various considerations that qualify a buyer for a loan, such as Debt-to-Income ratio.
Clarification 2: Fees include discount prices, origination fee, maximum brokerage fee on a net or gross loan, documentary stamps and prorated expenses.
Clarification 3: Instruction includes a cost comparison between a higher interest rate and fewer mortgage points versus a lower interest rate and more mortgage points.
Clarification 4: Instruction includes a cost comparison between the length of the mortgage loan, such as 30-year versus 15-year. Clarification 5: Instruction includes adjustable rate loans, tax implications and equity for mortgages.
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Given two different mortgage loans, one 15-year and one 30-year, compare the advantages and disadvantages of each loan’s interest rate, monthly payment and total cost.
Access Point #: MA.912.FL.3.AP.9
Access Point Standards
Visit the specific benchmark webpage to find related instructional resources.
Access Point Information
Number:
MA.912.FL.3.AP.9
Category:
Access Points
Date Adopted or Revised:
03/23
Access Point Courses
- Mathematics for Data and Financial Literacy Honors (#1200388): In Mathematics for Data and Financial Literacy Honors, instructional time will emphasize five areas: (1) extending knowledge of ratios, proportions and functions to data and financial contexts; (2) developing understanding of basic economic and accounting principles; (3) determining advantages and disadvantages of credit accounts and short- and long-term loans; (4) developing understanding of planning for the future through investments, insurance and retirement plans and (5) extending knowledge of data analysis to create and evaluate reports and to make predictions.
All clarifications stated, whether general or specific to Mathematics for Data and Financial Literacy Honors, are expectations for instruction of that benchmark.
Curricular content for all subjects must integrate critical-thinking, problem-solving, and workforce-literacy skills; communication, reading, and writing skills; mathematics skills; collaboration skills; contextual and applied-learning skills; technology-literacy skills; information and media-literacy skills; and civic-engagement skills.
- Mathematics for Data and Financial Literacy (#1200384): In Mathematics for Data and Financial Literacy, instructional time will emphasize five areas: (1) extending knowledge of ratios, proportions and functions to data and financial contexts; (2) developing understanding of basic economic and accounting principles; (3) determining advantages and disadvantages of credit accounts and short- and long-term loans; (4) developing understanding of planning for the future through investments, insurance and retirement plans and (5) extending knowledge of data analysis to create and evaluate reports and to make predictions.
All clarifications stated, whether general or specific to Mathematics for Data and Financial Literacy, are expectations for instruction of that benchmark.
Curricular content for all subjects must integrate critical-thinking, problem-solving, and workforce-literacy skills; communication, reading, and writing skills; mathematics skills; collaboration skills; contextual and applied-learning skills; technology-literacy skills; information and media-literacy skills; and civic-engagement skills.
- Access Mathematics for Data and Financial Literacy (#7912120): Access Courses:
Access courses are for students with the most significant cognitive disabilities. Access courses are designed to provide students access to grade-level general curriculum. Access points are alternate academic achievement standards included in access courses that target the salient content of Florida’s standards. Access points are intentionally designed to academically challenge students with the most significant cognitive disabilities.