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Designed by
contacts: Ed Burge & Dino Ferraresi
Math Model TEKS
(3)(B), (6)(B), (6)(C), (7)(B)
One difficult decision we now face is
whether we should buy or lease a vehicle. With the ever-increasing
pressure of aggressive salesmen, one should prepare oneself by searching the
pros and cons of buying/leasing. One needs to calculate the cost of each
and also needs to inquire about any obligation before going to a car dealer.
Task: Create a PowerPoint Presentation
After becoming acquainted with the terms
associated with buying and leasing agreements, you will use the information available
in the Buying/Leasing database to generate amortization tables with appropriate
illustrations. Calculate the cost of each and write a conclusion in essay
format. Use Microsoft PowerPoint to present your findings.
The following are steps you need to follow in order
to finish this project.
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1. |
Choose a vehicle from the
local newspaper or the Internet. Be sure the sale price, the leasing
agreement and a description are stated in the ad. Check the retail
price as suggested in the Blue Book. Kelly Blue Book |
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2. |
Bring a picture of the vehicle
from the Internet into your PowerPoint. Giving a description of special
features. |
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3. |
Use the database as a source to
calculate the cost of buying (for down payment use 20%, assume the same
amount is required in the leasing agreement). |
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4. |
Check with the banks,
bankrate.com, credit unions and dealer ads for interest rate. |
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5. |
Calculate the amount of the
down payment, (20%) and the amount to be financed. (price of the vehicle less
20%) |
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6. |
Use Shared Documents or Excel
to generate amortization tables and finance charges for the amount to be
financed. |
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7. |
Buying cost = Down payment + Amount
Financed + Finance charges |
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8. |
Use the database to calculate
the leasing cost. |
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9. |
You may use the leasing
information from the newspaper. |
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10. |
Calculate refinancing cost for
residual. |
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11. |
Leasing cost = Down Payment + Total Monthly Payments +
Residual + Finance Charges and 30 cents per mile for overage. |
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12. |
Get an itemized insurance
policy for the vehicle. Quicken Insure Market (or see Teacher) |
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13. |
Write a conclusion stating the
pros and cons of both buying and leasing. Use the Inspiration Social Studies
Pro and Con template. Fill in the information and create an outline from it.
Copy and paste them to slides. Write your conclusion from the diagram and
outline. |
Your argument should illustrate findings from your math
calculations, your spreadsheets, your reading from the resources, and your
discussions with your teacher. Prepare a computer-generated slide show for
the class on the results of your web quest.
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The following list offers possible
resources that you might consider in order to complete this project. Use any
of them or other resources that relate to the buying/leasing a vehicle.
Shared Documents*
*For finance
charges, payments and amortization: go to shortcut to student on server and
click on Shared Documents, click on Mortgage Loan Analysis and enter
information.
Your final grade for this web quest will be based on the
following components.
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Excellent |
Good |
Average |
Below
Average |
Try Again |
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Participation: Constructive use of classroom time |
4 |
3 |
2 |
1 |
0 |
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Knowledge: Shows
understanding of the material Able to
answer questions |
4 |
3 |
2 |
1 |
0 |
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Length: Long enough to
cover assigned material |
4 |
3 |
2 |
1 |
0 |
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Buying cost: Calculations
should support data |
4 |
3 |
2 |
1 |
0 |
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Leasing cost: Calculations
should support data |
4 |
3 |
2 |
1 |
0 |
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Content: Topic
covered thoroughly Enough information
given to understand topic |
4 |
3 |
2 |
1 |
0 |
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Conclusion: Well written
and in essay format Content of
conclusion should include pros and cons from reading material, and
discussions with teacher |
4 |
3 |
2 |
1 |
0 |
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Design: Creativity Easy to see
and follow |
4 |
3 |
2 |
1 |
0 |
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Through this project you gained knowledge
about the terms of buying/leasing agreements. This information will give you
more confidence in your future decision-making, and it will also make you drive
a better bargain. Now go to a car dealer and check it out.
