Applied Mathematics is a way to use math to solve problems in the real world, like in economics, engineering, and medicine. 

This project's objective is to conclude which is more economical to buy or to rent houses or apartments for different incomes. It will also determine the sufficient down payment, and the length of mortgage. Renting an apartment will probably be cheapest, followed by renting a home, buying an apartment, and buying a home should be most expensive. 15-year mortgage will most likely be cheaper than 30-year mortgage, but will only be available to higher-class homeowners. A higher down payment will almost definitely be required.

Does buying a home actually build more wealth than renting over 15 or 30 years? You compare real prices for recently sold and rented homes and apartments in the same area. Then you model four annual salaries from $24,000 to $60,000.

For each income level you calculate mortgage payments at different down payments. You also factor in bills, salary growth, rent increases, and property value changes. A 15-year mortgage and a 30-year mortgage are both tested.

The results show that purchased apartments build the most wealth over time. Rented homes build the least. A higher down payment sharply reduces the total interest paid.

Title: To Buy or Not to Buy

Objectives/Goals

This project's objective is to conclude which is more economical to buy or to
rent houses or apartments
for different incomes. It will also determine the sufficient down payment, and
the length of mortgage.
Renting an apartment will probably be cheapest, followed by renting a home,
buying an apartment, and
buying a home should be most expensive. 15-year mortgage will most likely be
cheaper than 30-year
mortgage, but will only be available to higher-class homeowners. A higher down
payment will almost
definitely be required.

Methods/Materials

Data for ten apartments and houses sold recently and rented apartments and
houses from the same area,
size, and number of rooms were averaged and used to determine an average price
for the area. Data was
then gathered from 15 families with five members for assorted bills and expenses
were averaged
separately as well as yearly. Annual salaries used were $24,000; $36,000;
$48,000; and $60,000. Down
payments used were 0%, 20%, 25%, and 30%. Mortgage was then figured out. The
rate was dependant on
the amount of the loan and the type (15- or 30-year). A second loan up to 20% of
the property value is
also taken with 0% down payment. Rent increase was then established. Next,
salary increase was found
out. The savings are then comprehended by subtracting the various expenses from
the salary for 15 and 30
years. The property value increase was then determined. The total wealth after
15 and 30 years was then
concluded by adding the property value with the savings.

Results

The results were that sold apartments were better at 15 and 30 years as the
salary increased, then rented
apartments, then sold homes and finally rented homes. 15-year mortgages were
cheaper, and a down
payment lowers the lost money form interest by a very large number.

Summary Statement

To determine the best real estate choices for different incomes

Help Received

Buying vs. Renting at Different Incomes

Determining whether buying or renting a house is a better financial decision

<h1><strong>1000 Science Fair Project Ideas by Subject</strong></h1><p>Looking for a science fair project idea? Each of our science fair project idea has complete instructions with video. Get ideas for your science projects, find extra resources for your class' scientific projects, or try a fun experiment at home! It doesn't matter what grade you're in, there's something for everyone!</p><p>You can find your perfect science fair project from the different science subjects below or from our <a href="https://www.all-science-fair-projects.com/category0.html#bottom">science fair project idea lists!</a></p>

<h2>Science Fair Project Idea Lists</h2><p>Looking for other ways to find good ideas for science fair projects? Check out these lists of science projects!</p><hr style="clear:both; border-style:dotted" data-marker="clearFloat"><h3>Easy Science Fair Projects</h3><p><img src="/images2/flex/176_popular 2 (2).png" data-size="100" data-float="left" style="width:100px; float:left">Explore the exciting world of science with an easy science fair project that you can do at home using simple materials. Any one of these easy project ideas will teach you important scientific concepts and help you have fun while learning. An easy science fair project is a great way to introduce the wonders of science to kids and adults alike!</p><hr style="clear:both; border-style:dotted" data-marker="clearFloat"><ul><li><p>Changing the Color of Flowers</p></li><li><p>Baking Soda Volcano</p></li><li><p>Swimming Raisins</p></li><li><p>Egg in Vinegar</p></li><li><p>Color of Skittles Experiment</p></li><li><p>Jumping Rice Krispies</p></li><li><p>Mixing Colors of Light</p></li><li><p>Camouflage and Hide</p></li><li><p>Light and Dark on Seed Germination</p></li><li><p>Make a Parachute</p></li></ul><p>More science project details at <a href="https://www.all-science-fair-projects.com/science_fair_project_list/12">Easy Science Fair Projects <strong>→</strong></a></p><hr style="clear:both; border-style:dotted" data-marker="clearFloat"><hr style="clear:both; border-style:dotted" data-marker="clearFloat"><h3>The Top 10 Best Science Fair Projects</h3><p><img src="/images2/flex/177_popular 2 (3).png" data-size="100" data-float="left" style="width:100px; float:left">To find the best science fair project for you, we've picked the best science projects from 10 different science categories, all with very interesting topics. 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With just a few simple things, you can be fascinated by science and have tons of fun with these popular science projects!</p><hr style="clear:both; border-style:dotted" data-marker="clearFloat"><ul><li><p>Explosive Elephant Toothpaste</p></li><li><p>Egg in Vinegar</p></li><li><p>Electrifying Lemon Battery</p></li><li><p>Making Oobleck: Liquid or Solid?</p></li><li><p>Egg Drop Project</p></li><li><p>Colors of Skittles Experiment</p></li><li><p>Cloud in a Bottle</p></li><li><p>Baking Soda Volcano</p></li><li><p>Egg in a Bottle</p></li><li><p>Plastic Milk</p></li></ul><p>Project details and more cool science projects at <a href="https://www.all-science-fair-projects.com/science_fair_project_list/1/Popular_Science_Experiments_At_Home">Popular Science Fair Projects <strong>→</strong></a></p><hr style="clear:both; border-style:dotted" data-marker="clearFloat"><hr style="clear:both; border-style:dotted" data-marker="clearFloat"><h3>One-Day Science Fair Project Ideas</h3><p><img src="/images2/flex/172_popular 2 (1).png" data-size="100" data-float="left" style="width:100px; float:left">Quick experiments can be a great option for a science fair project. 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Science museums, natural history museums, space museums, and discovery museums are all great places to do that! You can discover all sorts of interesting things about science and find cool project ideas for science fairs.</p><p>There may be free admission days or free passes to a science museum near you! Check your credit card for offers, your local library for free museum passes, and nearby science museums for free entrance days.</p><p>So what are you waiting for? <a href="https://en.wikipedia.org/wiki/List_of_science_museums">Find a science museum near you</a> and prepare to be awed by all that you can learn there!</p><hr style="clear:both; border-style:dotted" data-marker="clearFloat"><h4>Look around and observe</h4><p><img src="/images2/flex/117_5.png" data-size="100" data-float="left" style="width:100px; float:left">Do you know how scientists start their cool projects? They often look around and notice things that are interesting or make them curious. 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We'll help you find a science fair project idea and guide you through the process of doing and presenting your science fair project with <a href="https://www.all-science-fair-projects.com/science_fair_projects_coach/science-project-coach.html">Science Fair Coach's Science Fair Project Guide</a>.</p><hr style="clear:both; border-style:dotted" data-marker="clearFloat"><h3>What should I do after I have a science fair project idea?</h3><p><img src="/images2/flex/143_intro science fair.png" data-size="100" data-float="left" style="width:100px; float:left">If you have a science fair project idea, Science Fair Coach can help you turn it into a full science fair project! Starting at the <a href="https://www.all-science-fair-projects.com/pgpage/4">Introduction to Science Fairs</a>, check out the section on <strong>How to do a science fair project</strong> for a step-by-step guide!</p><hr style="clear:both; border-style:dotted" data-marker="clearFloat"><p><img src="/images2/flex/203_compared to scientific method.png" data-size="100" data-float="left" style="width:100px; float:left">We'll guide you through every step of the <a href="https://www.all-science-fair-projects.com/pgpage/5">scientific method</a>, from designing and conducting your experiment to collecting and analyzing your findings.</p><hr style="clear:both; border-style:dotted" data-marker="clearFloat"><p><img src="/images2/flex/202_engineering design process.png" data-size="100" data-float="left" style="width:100px; float:left">If you're working on an engineering project, you can head over to <a href="https://www.all-science-fair-projects.com/pgpage/9">The Guide to the Engineering Design Process</a>.</p><hr style="clear:both; border-style:dotted" data-marker="clearFloat"><p> <img src="/images2/flex/150_science fair poster.png" data-size="100" data-float="left" style="width:100px; float:left">Finally, we'll help you showcase your results on a <a href="https://www.all-science-fair-projects.com/pgpage/7">science fair board</a> for others to learn from and enjoy.</p><hr style="clear:both; border-style:dotted" data-marker="clearFloat"><hr style="clear:both; border-style:dotted" data-marker="clearFloat"><h3 style="text-align: start"><strong>How do I make a science fair board?</strong></h3><p style="text-align: start"><img src="/images2/flex/150_science fair poster.png" data-size="100" data-float="left" style="width:100px; float:left">Your science fair board is where you show off your science fair project for everyone to see and learn from. 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Math is all about numbers, patterns, and solving problems. Computer science is about using math and technology to create computer programs and solve real-world problems. Together, they help us understand how things work, how to solve problems, and how to use technology to make our lives better!

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Buying vs. Renting at Different Incomes

Hypothesis

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