MS CLINE'S MATH CLASSES

?Vehicle FinancingAssignment 1 - TaxesIf you purchase a new truck from a dealer in MB for $56453.25 plus taxes, find the total amount paid.If you purchase a new SUV for $33839.40 plus taxes, find the total amount paid.If you pay $40 000 for a new vehicle, but the cost before taxes was $36 500, how much did you pay in tax?You make $3125 a month, what is the maximum you can afford to pay on monthly payments for a car?You make $2000 a month, what is the maximum you can afford to pay on monthly payments for a car?You make $1000 a month, what is the maximum you can afford to pay on monthly payments for a car?You want to purchase a car with monthly payments of $1000. What should be your minimum monthly income to afford this?You want to purchase a car with monthly payments of $750. What should be your minimum monthly income to afford this?You want to purchase a car with monthly payments of $500. What should be your minimum monthly income to afford this?Assignment 2 - Repairs1. Andrew often needs repair on his car. His mechanic charges $59/hr towork on his car. Find the total cost of repair for each service (include parts, labour, and taxes).four litres of oil at $3.15/L, one oil filter for $4.54, and an air filter $10.65. Installation time is 0.6 hours.Total parts:Total Labour: Total including taxes:Two fan belts for $29.50 each and two headlights for $79.85 each, installation time 0.6 hours.Total parts:Total Labour: Total including taxes:A fuel filter for $17.61, installation time 0.3 hours.Total parts:Total Labour: Total including taxes:2 wiper blades at $3.72 each, one exhaust pipe for $145, muffler and tail pipe for$89.95, installation time 1.7 hours.Total parts:Total Labour: Total including taxes:The car’s suspension needs to be looked at. It costs $59.98 for the shocks and $81.33 for the strut. It will require 3 hours of labour to fix the suspension.Total parts:Total Labour: Total including taxes:The cooling system needs to be flushed. It will cost $59.99 with 1 hour labour included in this price. Then antifreeze will be added. It costs $8.95 for a 4L jug and 8 litres are needed.Total parts & Labour: Total including taxes:Assignment 3 - AutopacGoogle the “Using the guide to Autopac” booklet, and answer the following questions:1. List two things a dealer must give you when you buy a used car. 2. What three things are needed if you buy a vehicle privately? 3. What does a person under age 18 need to register a vehicle?4. Autopac is insurance that: 5. List 3 factors that affect what you pay for Autopac.6. If your vehicle is registered as a pleasure vehicle, how many times a month can you drive it to and from work? 7. The highest driver safety rating of 15 results in what % decrease on registration costs? Assignment 4 - Fuel Economy1. Complete the following chart.LitresCost/LitreTotal Costa)90$1.05b)18$1.20c)51.395 centsd)87.4$1.11e)58.2$65.06f)82.7$79.10g)$1.08$45.60h)$1.13$53.80i)98 cents$49.212.Determine the distance travelled using the odometer readings given below.a) Initial = 039287.6Final = 040324.3distance travelled = b) Initial = 076543.2Final = 076956.7distance travelled = c) Initial = 001279.8Final = 001454.3distance travelled = d) Initial = 003883.3Final = 007375.2distance travelled = e) Initial = 123914.5Final = 124721.3distance travelled = 3. A car requires 52 liters of gasoline. If the cost of gasoline is $1.20 per liter, calculate the cost to fill the tank. 4. A bill for gasoline was $21.50. If the cost of gas is $1.41 / liter, determine the number of liters purchased.5. A car consumed 70 liters of gasoline which cost $89.25. What was the cost per liter?6. Determine the fuel economy on the following trips. The odometer readings are: InitialFinal Liters UsedL/100 km71 41671 73957.623 165.223 721.954.887 158.188 031.497.215 63216 34137.2135 714.8136 028.343.97. Brigette travelled in her minivan to Churchill to watch the polar bears and kept track of her gas purchases. For each part of the trip, she would like to know: (i) km driven, (ii) cost of fill-up, (iii) fuel economy in L/100km, and (iv) $/100 kmShe left on June 29th with a full tank of gas and an odometer reading of 51 372.0 kmFinal ReadingKM driven since last filllitersCost / LiterCost of fill up Fuel Economy in L / 100 kmFuel Economy in $ / 100 km51 57019827.2$1.12$30.4613.7$15.345172727.2$1.1351 94741.8$1.0852 28051.3$1.1752 56552.2$1.20The first row is filled in for you using the following calculationsi) Km Driven = 51 570 – 51 372 = 198 km ii) Cost of fill up = 27.2 x 1.12 = $30.46iii) Fuel Economy = 27.2 x 100 = 13.7 L/100km iv) 13.7 X $1.12 = $15.34 198 8. Using the information from the chart in question 7, answer the following questions:What was the total quantity of gas purchased?What was the total cost?What was the total distance travelled? What was the average fuel economy for the whole trip? (both L / 100 km and $ / 100 km) Assignment 5: For the following questions below the Freight Charge will be $850 and the federal excise tax for air-conditioning will be $100. 1. Prima buys a new two door Neon Sport Coupe with a base price of $17218. She pays $2490 in an option package plus a stereo system for $665. There is a freight charge and an air conditioning federal excise tax. How much will she pay for this car including taxes? TOTAL PRICE = LESS TRADE IN = PLUS TAXES (GST & PST) = PURCHASE PRICE =2. Anthony decides to buy a new Honda Accord. He pays the base price of $24 673 and chooses an option package for $2 614. He adds an automatic transmission for an extra $695. There is a freight charge and there is an excise tax for air conditioning. Anthony receives a trade-in allowance of $4 500 for his old car. How much will he pay for his Accord including taxes? TOTAL PRICE = LESS TRADE IN = PLUS TAXES (GST & PST) = PURCHASE PRICE =3. Alexa wants a new Ford Focus. The base price is $22 995 plus freight. She would like power windows and power locks for an extra $300 and $285, respectively. How much will she pay for the car? TOTAL PRICE = LESS TRADE IN = PLUS TAXES (GST & PST) = PURCHASE PRICE =4. Sean buys a new light duty truck with a base price of $18 059. He orders the décor package for $354, bucket seats for $235, and a larger engine for $1 120. Freight and air-conditioning charges apply. Find the total cost for this truck if he gets a trade-in allowance of $2 600. TOTAL PRICE = LESS TRADE IN = PLUS TAXES (GST & PST) = PURCHASE PRICE =Assignment 6 1)Determine the resale value and total depreciation of the following vehicles during the years given. Use 20% depreciation / year. a) a $56 870 Chrysler Aspen at the end of 3 years..Resale value: Total Depreciation:b) a $40 000 Ford Explorer at the end of 2 years (25% / year). Resale value:Total Depreciation: c) a $26 500 Honda Civic Hybrid at the end of 3 years. (15% / yr) Resale value:Total Depreciation: Assignment 71. Russ found a car that he would like to buy through a private sale. The price of the car is $1985. A friend examined the car and recommended that Russ install a new battery for $129, get a tune-up for a cost of $85, and get a lien check done for $26. The safety check will cost $40 plus GST. The book value for this car is $2200. How much will this car really cost Russ?2.Emily found a car in the Auto Trader that she wanted to buy for $8595. A diagnostic check was done for $35 and a lien search for $26. A safety check was done for $40 plus GST. The book value of the car was $8000. What did Emily pay for the car?3.Kelseigh goes to a dealer to buy a used car. The price for the car is $12, 430. All repairs, safety and lien search have already been done, and are already included in the price. How much does she really pay? The book value is the price that it is being sold at. 4. Jared has a choice of two cars. One is a private sale for $4465. A diagnostic check would need to be done for $35 and a lien search for $26. She will have to buy two new tires for $275 for the pair. A safety check will need to be done which costs $40 plus GST. The book value of this car is $5000. The other car can be bought through a used car dealer on sale for $4900. Which is the better buy and by how much? Assignment 8: Carly is looking to lease a Honda Pilot that sells for $43 090 and leases for $440 plus taxes per month for a lease term of 48 months. A down payment of $3 000 is required. Determine:a) the total monthly paymentb) the total amount paid at the end of the leasec) the residual value of the vehicle (residual value rate = 65%)d) the total amount paid for this vehicle if it is purchase at lease endRob is enjoying the spring weather and feels that he needs to lease a new Mustang Convertible that sells for $30, 249 and leases for $450 plus taxes per month for a lease term of 36 months. No down payment is required.Determine: the total monthly paymentthe total amount paid at the end of the leasethe residual value of the vehicle (residual value rate = 55%)the total amount paid for this vehicle if it is purchase at lease end.3. Consider the following options. You can purchase the car now or lease the car for 3 years and then purchase it. Consider a new car with a purchase price of $18 500 plus taxes.Option 1: Purchase. There is a down payment of $8000. GST is 5% and PST is 8%. The monthly payments are $369.03. a) What is the total cost of the car, including taxes?b) What is the total amount to be borrowed?c) What is the monthly payment?d) What is the total amount paid for the car, including the down payment?Option 2: Lease and Purchase. There is no down payment. The lease payment is $325 per month, plus GST and PST. After 3 years, you purchase the car for $7500, plus GST and PST. GST is 5% and PST is 8%. Determine the following.a) What is the monthly lease payment, including taxes?b) What is the total of the lease payments over the 3-year period?c) What is the total amount paid for the car after the purchase?4. A new car with a purchase price of $46 500 can be either purchased outright or leased and then purchased. There is 5% GST and 8% PST. Consider the following options.Option 1: Purchase. There is a down payment of $12 000. The car is purchased and paid for monthly for 4 years. The monthly payment is $791.21. Determine the following.a) What is the total cost of the car, including taxes?b) What is the total amount to be borrowed? c) What is the monthly payment on the loan?d) What is the total amount paid for the car, including the down payment?Option 2: Lease and Purchase. There is a down payment of $8000. The lease payment is $450 per month, plus taxes. After 4 years, the car is purchased for $18 500, plus taxes. Determine the following.a) What is the monthly lease payment, including taxes?b) What is the total of the lease payments over the 4-year period?c) What is the total amount paid for the car after purchase, including the down payment?5. A new car with a purchase price of $22 600 can be either purchased outright or leased and then purchased. There is 5% GST and 8% PST. Consider the following options.Option 1: Purchase. There is a down payment of $10 000. The car is purchased and has a monthly payment of $533 for 2 years. Determine the following.a) What is the total cost of the car, including taxes?b) What is the total amount of the car to be borrowed?c) What is the monthly payment on the loan?d) What is the total amount paid for the car, including the down payment?Option 2: Lease and Purchase. There is a down payment of $5000. The lease payment is $350 per month, plus taxes. After 2 years, the car is purchased for $12 400, plus taxes. Determine the following.a) What is the monthly lease payment, including taxes?b) What is the total of the lease payments over the 2-year period?c) What is the total amount paid for the car after purchase, including the down payment?Assignment 9: 1. Carly is looking to buy a Honda Pilot that sells for $43, 090 plus taxes. A down payment of $3000 is required. The Honda dealership is offering a loan rate of 5.75% over 4 years. Determine:a) the total costb) the amount of loan requiredc) the monthly paymentd) the total amount paid for the vehicle by the end of 4 years2. Rob is enjoying the spring weather and feels that he needs to buy a Mustang Convertible that sells for $30, 249 plus taxes. A down payment of $2050 is required. The bank offers Rob a 3 year loan at 7.5% interest. Determine:a) the total costb) the amount of loan requiredc) the monthly paymentd) the total amount paid for the vehicle by the end of 3 years3. Option 1: Purchase. A car costs $26 000. There is a down payment of $7500. GST is 5% and PST is 8%. The car is purchased with a loan of 4% and paid monthly for 5 years. Determine the following.a) What is the total cost of the car, including taxes?b) What is the total amount to be borrowed?c) What is the monthly payment on the loan?d) What is the total amount paid for the car, including the down payment?Option 2: Lease and Purchase. There is no down payment. The lease payment is $325 per month, plus GST and PST. After 5 years, you purchase the car for $7500, plus GST and PST. GST is 5% and PST is 8%. Determine the following.a) What is the monthly lease payment, including taxes?b) What is the total of the lease payments over the 5-year period?c) What is the total amount paid for the car after the purchase?Which is the better option? Why? 4. You want to purchase a new car with a purchase price of $55,500. There is 5% GST and 8% PST. There is a down payment of $5000. The car is purchased with a loan of 6% p.a and paid monthly for 4 years. Determine the following.a) What is the total cost of the car, including taxes?b) What is the total amount to be borrowed?c) What is the monthly payment on the loan?d) What is the total amount paid for the car, including the down payment?5. A new car with a purchase price of $15 300. There is 5% GST and 8% PST. There is a down payment of $10 000. The car is purchased with a loan of 4% p.a, and paid monthly for 2 years. Determine the following.a) What is the total cost of the car, including taxes?b) What is the total amount to be borrowed?c) What is the monthly payment on the loan?d) What is the total amount paid for the car, including the down payment? ................
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