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Name:_____________________________________ Class:________________ Date:____________3rd Quarter Project: BUYING A CARYou are about to buy the car of your dreams.??What will you choose???How much will it cost??How much interest are you paying??How about gas mileage??Where will your first road trip be?The Car:??You have three choices. 2017 Jeep Grand Cherokee Laredo MSRP $ 30,395-762005651500Gas Mileage: 23 mpg combined city/highway 4.8 gallons/100 milesFuel Tank Capacity: 24.6 gallons2017 Audi A5 Coupe MSRP $41,200Gas Mileage: 25 mpg combined city/highway 4 gallons/100 miles Fuel Tank Capacity: 16.1 gallons2017 Honda Accord MSRP $22,455Gas Mileage: 25 mpg combined/highway 4.8 gallons/100 milesFuel Tank Capacity: 17.2 gallonsBank Loan: You need to take out a loan for your car. You will be borrowing money from Loans R Us. Loans R Us charges an interest rate of 4.5%. Calculate the following: Show your work. The interest on the MSRP. The total cost of the loan. Monthly Payment (5 year loan)Insurance: The cost of car insurance is $1,205.00 for the year? Calculate your monthly cost.If you decide to pay your insurance quarterly, how much would you pay each quarter?How much would your payment be if you paid Bi-annually?(Show your work for each)Gas Mileage/Road TripGas Mileage: Calculate how much it costs to fill up your tank. Show your work. (The average cost per gallon of gas is $2.63- this price includes tax) Road Trip: You have a choice of three destinations. Washington DC: 248.2 miles from Little NeckMontauk, NY: 100.5 miles from Little NeckBoston, MA : 209.8 miles from Little NeckHow much will gas cost you to travel to your destination (one-way)? Show your work.What would be the total cost roundtrip? Show your work.3) If you travel at an average speed of 60mph, how long will it take you to reach your destination? Show your work.Hotel: You will be staying in a hotel for three nights. The price per night is $229. You have a coupon for 20% off . You have to pay an 8.75% tax. If you stay for 3 nights, how much will your hotel cost? Show your work. ................
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