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Transportation: Public vs. privateSometime in the next year, most of you will be learning to drive and getting your driver’s licenses. Some of you may even be looking into new rides for yourselves. Whether you buy your own, your parents gift one to you, or you take the bus, we all will have to pay something to keep that ride moving. Research the following transportation options and find out which one will work best for you.Use this Transportation Worksheet to fill out your answers.Activity:Bus Pass: Find out the cost of a student and adult bus pass for a year.Bicycle: Find out the cost of buying and operating a bicycle for a year.Cost of tune up Cost of lock Cost of 2 tire tube Cost of 2 rubber tires Cost of pump Cost of helmet New Car:A) Pick a new car that you want to buy. Go to a Canadian factory website and build your car. (Ford, Dodge, Chevrolet, etc.) Copy and Paste the link onto your worksheet (options included). The spending limit you have for this car is $40 000 Canadian.Go to your favourite financial institution and in their search bar type in LOAN CALCULATOR. Enter your purchase amount and find out how much a monthly payment would be for your car. Use a 4.9% interest rate and calculate the loan over 5 years (60 months). You must show the monthly payment and the amount interest will cost you over the term of the loan. Loan Amount:Annual Interest Rate:Term:Monthly Payments:Total Borrowing Cost: (total amount of interest)Maintenance: Find out how much the operating cost of your vehicle is going to be over 5 years. You must show your calculations. Gas: If you have a car: 4 cylinder $150 / mthcar: 6 cylinder $250 / mthcar: 8 cylinder $350 / mthSmall truck $160 / mthLarge truck $ 250 / mthMinivan/suv $300 /mthOil change: 3 times /year (you will need to research this on the internet)Insurance will be $3000 per year.Warranty Checkups: 300 per year5 Year TotalUsed Car: Pick a used car that you want to buy. Copy and Paste the link onto your worksheet. The spending limit you have for this car is $30 000. Follow steps B –D above to figure out how much it will cost you for 5 years. You can use websites like , (make sure you can find all the information you need).Paragraph: On your worksheet, write the following paragraph:Based on your research so far, choose a mode of transportation that you will usefor the 5 years directly after high school. (Bus, Bike, New or Used Car) In a shortparagraph, explain why you have chosen this transportation. ................
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