6.1-6.5 Bell Ringer

Front

What is the formula to calculate the number of shares owned in a cooperative corporation?

Back

Number of shares owned = Total shares in co-op * (Ownership percentage / 100).

Front

What is the front-end ratio in terms of monthly gross income?

Back

The front-end ratio is typically less than 28% of monthly house expenses.

Front

What does the symbol P(r/1200) represent in financial calculations?

Back

P(r/1200) represents the Monthly Interest.

Front

What is the back-end ratio in terms of monthly expenses?

Back

The back-end ratio is typically less than 36% of monthly expenses.

Front

How do you calculate the future cost of rent with an annual increase?

Back

Future Rent = Current Rent * (1 + Annual Increase Rate)^Number of Years.

Front

If Marybeth owns 2% of 15,000 shares, how many shares does she own?

Back

Marybeth owns 300 shares.

Front

What is the significance of the front-end ratio in budgeting?

Back

It helps determine how much of a person's income can be allocated to housing costs.

Front

What is the significance of the back-end ratio in budgeting?

Back

It helps assess total debt obligations in relation to income.

Front

If a rent increases by 11.1% annually, how do you express this as a decimal for calculations?

Back

11.1% as a decimal is 0.111.

Front

What is the formula for calculating the percentage increase in rent?

Back

Percentage Increase = (New Rent - Old Rent) / Old Rent * 100.