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Seventh Grade Math | |
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objective | To research buying a car 0 to 5 years old and to decide if the car you want is affordable for you when you graduate from college. |
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getting |
1) Select a brand and style of car that you would like to have. 2) Check newspaper ads, Internet websites, or visit a dealership to find the price of a car that you want (remember the car needs to be 0 to 5 years old). If you find an ad, please cut it out and include it with your project. 3) Once you have determined the price of the car, contact a bank or other lending institution to determine the interest rate, down payment, and monthly payments. Also, determine the difference between simple interest and compound interest. 4) Make a list of the operating costs for 1 year. Be sure to include the following: gasoline, insurance, maintenance (oil changes, tune-ups, etc.). You may need to call local insurance companies or mechanics. You could also ask an adult at home who has owned and operated a car. |
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the |
Brand of Car _____________ Style/Color/Year__________________ Price _____________ Down Payment_____________ Length of Loan 48 months Interest Rate _______________ Operating Costs for 1 year: Tax ____________ Insurance ____________ License_____________ Title __________ Property Tax _____________ Gasoline _______________ Maintenance _____________ Other (Car wash, accessories, etc) _______________ |
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bringing it |
1) Prepare a spreadsheet showing the total cost of the car for 4 years. Make sure you include all the expenses from the previous page (even though some expenses will only occur in the first year). 2) Prepare a budget for a single person right out of college. Make sure to include expenditures on rent, food, insurance, utilities, incidentals, etc. You may need to ask a bill-paying member of your household for help. 3) Pick a job that you would like to have after graduating from college. Research the average starting salary for this position. 4) Prepare a one page, typed, double-spaced report (12 point font) on your findings. Decide whether or not this car would be affordable for you after graduating from college. Use logical, valid arguments that compare the anticipated costs with your predicted income. Please proofread the report for spelling and grammatical errors. 5) Turn in your fact sheet, your spreadsheet, your budget, the rubric, and the report. This project is due on February 9. |
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