Use the compound interest formula to evaluate the balance of a retirement account. Understand the home mortgage process and explain why the term of the loan is important Use present value and future value formula to calculate monthly payments on a home and college loan. Investigate how much you would actually pay for a house through a 15-year fixed-rate mortgage and a 30-year fixed-rate mortgage, with interest included. Investigate the price of homes in the area you live in. Search for current mortgage interest rates using online resources. Calculate a 10% down payment for each house they are interested in researching. Calculate the monthly mortgage payment associated with the mortgage using a given