Update Latest

GUQ/Personal Finance/6.md

@@ -0,0 +1,62 @@
+# 6
+
+## 6.1 Mortgage Loan
+
+### 6.1.1 Definitions
+
+-   **Down payment: **a percentage of the total cost of the house paid at the time of purchase.
+-   **Mortgage Loan (*principal*):** the money you borrow.
+-   **Closing Costs:** fees and taxes paid to complete the purchase.
+
+### 6.1.2 Formulas
+
+- $𝑴𝒐𝒓𝒕𝒈𝒂𝒈𝒆 𝑳𝒐𝒂𝒏=𝑷𝒖𝒓𝒄𝒉𝒂𝒔𝒆 𝑷𝒓𝒊𝒄𝒆 – 𝑫𝒐𝒘𝒏 𝑷𝒂𝒚𝒎𝒆𝒏𝒕$
+- $𝑪𝒂𝒔𝒉 𝑵𝒆𝒆𝒅𝒆𝒅 𝒕𝒐 𝑩𝒖𝒚 𝒂 𝑯𝒐𝒎𝒆=𝑫𝒐𝒘𝒏 𝑷𝒂𝒚𝒎𝒆𝒏𝒕+𝑪𝒍𝒐𝒔𝒊𝒏𝒈 𝑪𝒐𝒔𝒕𝒔$
+
+### 6.1.3 Calculations
+
+-   **Interest:**
+    -   ​     **Fixed rate mortgages:** The same rate of interest is paid for the life of the loan.
+    -   ​    **Variable rate mortgages:** The rate of interest is not guaranteed and may be increased or decreased.
+-   **Mortgage Payment: **Most mortgages are repaid gradually over the life of the mortgage in **equal monthly payments**. 
+
+![image-20250415101209378](./assets/image-20250415101209378.png)
+
+- **Amortization Table:** It is a table that shows the monthly payments needed to amortize mortgage loans over different periods of time using different interest rates.
+
+
+![image-20250415101238756](./assets/image-20250415101238756.png)
+
+-   **Refinancing a Mortgage:** 
+    When you refinance a mortgage, you take out a new mortgage and use that money to pay off the old mortgage. 
+
+## 6.2 Renting or Owning a Home
+
+-   **Depreciation:** It is the ***loss in*** ***value*** of property caused by aging and use.
+-   **Net Cost for a Home:**
+    $ Total Expenses – Tax Reductions = Net Cost for the First Year$ 
+-   **Costs of Property Rental:** 
+    Security deposit is a *one-time* payment in addition to their rent when they sign a lease, or rental agreement. 
+
+## 6.3 Property Taxes
+
+-   **Property taxes** are taxes on the value of real estate such as homes, business property, or farm land.	
+    The amount of property tax paid is based on the assessed value of a property.	
+-   $Amount to be raised by property tax = Total expense budget – Income from other sources$
+
+-   **Tax Rates in Mills or Cents per Dollar:** $\frac{\$62}{\$1,000}=\frac{\$0.062}{\$1}$
+
+## 6.4 Property Insurance
+
+-   **Homeowners Insurance:** 
+    -   A policy that covers your home and protects you against other risks is called ***homeowners*** ***insurance***. 
+    -   The amount for which your home is insured is called the ***face value*** of the policy. 
+    -   Under ***replacement*** ***cost policies***, the insurance company will pay the cost of replacing your property at current prices. 
+    
+-   **Premium:** 
+    
+    The money paid to an insurance company for property insurance is the ***premium***.
+    
+-   **Renters Insurance Premiums:** 
+
+    If you rent a house or an apartment: You can buy a **renters policy** that provides nearly the same coverage as a homeowners policy except for loss of the dwelling and other structures.

GUQ/Personal Finance/7.md

@@ -0,0 +1,15 @@
+# 7 
+
+## 7.1 Life Insurance
+
+1.   Calculate life insurance premiums
+2.   Calculate the net cost of life insurance
+3.   Calculate the cash and loan values of a life insurance policy
+
+-   **Life insurance** is a way of protecting your family from financial hardship when you die.
+    -   **The insured:** the person whose life is covered
+    -   **The insurer:** the insurance company
+    -   **The contract:** states the amount of insurance to be paid upon the death of the insured, or the death benefits of the policy. 
+-   **Beneficiary s:**
+    When the insured dies, death benefits are paid to the beneficiary. The beneficiary is the person named in the policy to receive the death benefits.
+-   

GUQ/Personal Finance/公式纸.md

@@ -0,0 +1,14 @@
+## 6.1 Mortgage Loan
+
+$𝑴𝒐𝒓𝒕𝒈𝒂𝒈𝒆 𝑳𝒐𝒂𝒏=𝑷𝒖𝒓𝒄𝒉𝒂𝒔𝒆 𝑷𝒓𝒊𝒄𝒆 – 𝑫𝒐𝒘𝒏 𝑷𝒂𝒚𝒎𝒆𝒏𝒕$
+
+$𝑪𝒂𝒔𝒉 𝑵𝒆𝒆𝒅𝒆𝒅 𝒕𝒐 𝑩𝒖𝒚 𝒂 𝑯𝒐𝒎𝒆=𝑫𝒐𝒘𝒏 𝑷𝒂𝒚𝒎𝒆𝒏𝒕+𝑪𝒍𝒐𝒔𝒊𝒏𝒈 𝑪𝒐𝒔𝒕𝒔$
+
+每个月付款可以查表（表可能不同，具体看表头）：
+
+![image-20250415101238756](./assets/image-20250415101238756.png)
+
+## 6.2
+
+**Net Cost for a Home:**
+$ Total Expenses – Tax Reductions = Net Cost for the First Year$