MA19.MM.8

Mathematics (2019) Grade(s): 09-12 - Mathematical Modeling

MA19.MM.8

Investigate the advantages and disadvantages of various means of paying for an automobile, including leasing, purchasing by cash, and purchasing by loan.

Unpacked Content

Knowledge

Students know:
  • how to calculate the cost of leasing a car.
  • how to calculate the cost of an automobile loan.
  • how to organize data on car purchases.
  • how to compare and contrast the car purchase data.

Skills

Students are able to:
  • Use the compound interest formula to calculate the cost of purchasing a car through a loan.
  • Calculate the cost of a car when leased.
  • organize car purchase data.
  • Compare and contrast data to make an informed decision.

Understanding

Students understand that:
  • there are different methods for purchasing a car. Each method has advantages and disadvantages for individuals.

Vocabulary

  • Lease
  • Principal
  • Interest Rate
  • Compounding Periods
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