Grade 12 Applied – Unit B – Personal Finance

B-1  Grade 12 Applied Personal Finance Notes  A complete set of notes for the Unit

B-2  Unit B – YouTube Playlist.   A selection of videos that may intrigue, but videos are not a good way to learn!

B-3  Grade 11 Essential Interest and Credit.  Grade 11 Essential covered Interest and Loans to a basic level.  The Grade 12 Applied Unit is considerably elevated.

B-3 Workbooks.  Several Workbooks (not hand-in) with answers!  These are not assigned, but for your own use, more than ample practice problems with answers

• • Workbook for Unit B.  A Workbook (with answers)  that I prepared from the Mb Distance Learning Website questions.
  • Unit B Archived Exam Questions Workbook.  23 Pages of Practice Problems (with answers) from previous exams.  Here is a mini version of the workbook (2X1 per page)
  • Unit B Archived Exams Workbook 2.
  • Workbook, Loans, Cars, House Finance:Gr12App_B_Loans_House_Car

B-4  Loan Repayment Table.  In the ‘old days’ before calculators we used tables of values to look up and calculate things like loan payments.  Tables show the big picture pattern that a calculator does not.  I like tables!  You can see patterns.

B-4  Selected possible assignments & worksheets.  Not everything will be assigned, you may want to explore all of the worksheets regardless.:

DUE DATES ARE IN THE BLOGS

• Simple Interest Worksheet  (not assigned.  From Grade 11)
• Simple Interest Review. ( Grade 11 Review:  )
• Compound Interest Investment using TVM (Assgt B-x  in class review from Grade 11  but using technology)
• Graphing Interest and Investments Manually.  (Assgt  B-x   )
  • Graphing Interest.  Explanation of Graphing Interest using an App Lets combine Graphing Unit C Functions with Unit B Personal Finance.
• Compound Investments Manipulations.  [B-x  Due  ] Solving for various arguments
• Loans on a TVM App. ( Assgt B-x, Due:        )
• Loans-Car Finance, House Finance (workbook)  (Assgt B-x   due:      )
• Withdrawal Annuities, Savings Annuities, Retirement
  • annuities Timeline Demo 1,  Annuities Timeline Demo 2.
• Loan Repayment (Grade 11);    Loan Repayment 2
• Finance Practice.
• Graphing Investment. Important to know how to graph with a graphing tool.
• Graphing Investment 2. Very Important for the Functions unit too!

B-5  A small selection of useful on-line calculators

• A great on-line financial calculator.  Determine how much your loan payments are or how long to pay off a loan
• BMO- Loan Calculator.  Every bank has a loan calculator on-line! use the INVERSE button to find out what loan amount you can get for a given monthly payment
• Mortgage Payments – BMO.  What will your monthly Payments Be?  Or do it the other way:  How Much can you afford for a house?
• Annuity Calculator.  How much income will you have when you retire, how much should you sock away now?  Unless you plan on retiring on only the CPP and OAS.
• Credit Card Payment Calculator.  A great site about the importance of paying off credit card debt and the hazards to avoid.  From the Federal Financial Consumer Agency.  Paying back $5,000 at 22% with the new minimum payments will take 16 years and $11,000 total (if you never even use the card again!)

B-8  Retirement (Benefits, Annuities, Income).  Are you planning for your future now??

Canadian Public Benefits. A good video!  Check out how Canada Pension Plan, Old Age Security, and other Public Benefits work. What you can expect when you retire. You and a partner together can expect about ~$1200 to $1400 per month each when you get older provided you worked for 39 years.  That would be tough to live on if there is no other pension or savings.

B-9 Other Resources

Everyday Math Skills. An excellent document about handling money and other money matters

Toronto Star -Your Money Matter.  Handling money for the younger folks

Watch out for these guys!  Predatory Loans; you probably get these in the mail occasionally.

B-10  In The News

CBC News Stories on Pension Plan. Revamped CPP ; Canada Pension Plan Expansion , CPP vs OAS Explained

B-11 Unclaimed Balances. Some surprise income for the family! Check this out. You may have a grandpa or great uncle or something that left behind lots of money in a bank account, and no-one knew about it! If a bank account is untouched for 10 years it ends up here! Use the search page to look up your name or relatives deceased more that 10 years ago. We had found $13K my grandma had hidden away! Unclaimed Balance Search Page.

B-13  What is a Line of Credit?   The BMO explains the Line of Credit

B -15  Loans Using Technology!  Let’s be realistic!   There is an App for almost everything you can install on your phone!  (of course there are hazards with that!)  And of course many apps have flaws and errors and spam.  So being able to do calculations the ‘old’ way may still be important regardless!

• • Google Play for Android Devices.  Financial Calculators.  (This one is loaded on our class tablets!)  Or find one you like for your device!
  • IOS (Apple) App Store.  The Apple Store is not accessible directly from a PC.  Find any reasonable money or loan calculator app!  Here is the same one as on Androids above: EZ Financial Calculators.
  • EZ Financial Works fine just on-line in your browser too:  https://www.fncalculator.com/
  • TI-83 Graphing Calculator.  Some may recall this graphing calculator from the 90s.  Still useful!  It used to be downloadable in Android but not any longer.  There are lots of other similar calculators that do the same stuff.

B-19  Compound Interest Calculator Excel Spreadsheet. Use an EXCEL spreadsheet to do a line by line display of compound interest!  Use Google Sheets, or Excel On-Line, etc.  You can do all this on your phone!!