Math project

well , here it is i've got a math project and thought it might be
interesting .. so i'll show you the areas i need help :wink: . if you can
answer it , you may just look smarter <span style="color: lightblue;">or not hehe anyways here it goes

1. Choose a Car

A). kbb.com-print document // i chose the 2005 honda civic

{

<span>http:/www.kbb.com/kb/ki.dll/kw.kc.ncop?kbb.NC;351565;NC125&27376&&;;nc;&5&05HOYJ_VPAR;051102 }

<span style="color: lightblue;">

2. Finance

A). Interest // what does interest mean!!!

B). Term of loan // ..? again drawing a blank

C). At least three loan choices // where would i get these?

D). Create a spreadsheet with money available if you have a job // aint got no job :wink:

3. Insurance

A). Three quotes (geico.com) // i could only get one T__T

4. Gas

A). Monthly cost (mpg, price of gas , travel distance , possible income for bringing friends to school

5. Paragraph

A). Summarise // duh ;p

extra credit students that go above and beyond the assignment //

10 points for each numbered section and 5 points for extra credit , for a total of 50 points.. i may edit my comments as i go

oh by the way , its due tommorow , i was sick all last week and just got the paper ...

Please help where you can :wink:

</span>

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.else /me ~kill you
www.arclan.net

Interest is the amount of "extra" money put onto a Loan. A loan (basically) consists of interest and principal. Principal is the price of the car, and when you get a loan, you get a (hopefully) fixed interest rate (2% or something like that ... credit cards are worse)

If you want like five billion quotes all at once, just go to progressive.com ...

Term of loan is the plan on how long the loan will take to pay off.

Three different loans you can get. You get them from banks, generally. (Or other financial offices designed for vehicles that are cleverly disguised banks)

I would suggest not choosing a civic ... unless you pay it off all at once, because, otherwise, they're a money pit. By the time you owe like $2K on the car ... you could buy an identical model for that amount. Chances are, that one would have rebuilt stuff too.

As for not having a job, do it for minimum wage or something. Make a note of that though.

Not that tough of an assignment, actually. You should be able to do it in about 20 to 30 minutes if you take your time.

If you want extra credit talk about how long the car may last. And all the other expenses it would gather. Say you're neglecting your driving, so that doesn't include tickets or accidents.

You know that most cars don't have problems until 60,000 miles. Use 120,000 as a cap. You're suppose to get an oil change every 3,000 (which isn't always necessary) So, that's (120,000 miles) 40 oil changes (and 40 air filters, which are about $10, check the list price for a Civic 2005) Oil changes ... just assume you're taking it somewhere, otherwise it'll be too cheap :smile:

After 60K miles cars usually start having problems. You'll generally need the fuel injectors cleaned (unless it's a Ford, this starts happening around 40K :sad: ) That's about $80 (look for prices though and quote them).

Add about ... $10 for two jugs of coolant. That's all you'll need, by the way. (I suppose you could factor in the price of water too, but it'd be negligible)

Now, you can also look up common problems with Civics, and estimate when and how much damage will occur to the car. Generally, them babies stay running ... even without oil (it's scary) ... calculate a repair price (over time) based on what you research and add that in.

Everything should be good as long as you clearly state what you're trying to find and things you're assuming.

I would imagine that'd give you a good amount of extra credit points :smile:

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Blame it on Microsoft, God does.

hehe thanks Crono :wink: that actually helps a load .

as for the civic , i do agree , its a bit pricey .. i'm gonna stick with it for the project cuz its only hypothetical =p .

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.else /me ~kill you
www.arclan.net

Oh! I forgot. Factor in DEQ prices. You have to get tested and new tags every two years. (It costs $80 for both here)

That's a big one. You'll have to calculate the life of the car first, so you can calculate all the stuff that requires time.

Oh yeah, about every 2 to 3 years you should replace your wiper blades (they're about $3 per blade ... how many does the civic have? 2 or 3? anyway, it's that about every couple years)

Also, add about $100 (check this) for at the 60K mark, since you generally need to start changing fluids then (brake, steering, etc) Generally, that isn't that bad, but if you take a 120,000 mile time line, that will need to be done sometime.

There's a bunch of other things you could include too. But I doubt this assignment is worth THAT much.

Oh yeah, you can neglect the "What if I fail DEQ" case. Just assume the car always passes.

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Blame it on Microsoft, God does.

heh , i've gotten three quotes , but they seem radically different from each other , maybe its me but here they are

Geico $4158.55

Progressive Direct $1,017

North Carolina Farm Bureau Mutual Insurance Company $567

Now off to the loans...

Capital one gave me

Loan amount 17,660

loan term: 60 months

Apr: 5.65

Montly Payment:338.55

Total of Payments:$20,313.03

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.else /me ~kill you
www.arclan.net

Those quotes, I bet, are from different payment plans. Are those per year? 6 months?

The north carolina one looks like 3-6 months
Gieco looks like 2 years
Progressive looks like 6 months or so

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Blame it on Microsoft, God does.

hehe they were all for 6 months ;P

which is scary ...

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.else /me ~kill you
www.arclan.net

loans at 2%. is that a monthly interest rate?

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i eat paint

Should be annual.

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Blame it on Microsoft, God does.

I think its the law for them to always give annual interest rates.

If all those payments are every 6 months, I'm guessing theyre just minimum amounts you have to pay. Geico will get paid off sooner, Progressive will take longer etc. I'm just talking out of my ass here so I could be wrong.

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"If you talk at all during this lesson, you have detention. Do you understand?"

• My yr11 Economics teacher

Most insurance, unless you specifically ask otherwise, will be for six months.

You don't have APR on insurance ... that's for the loan ... so that is annual.

Insurance companies ... as far as I know ... don't generally deal with loans. Banks do (a lot of banks own insurance companies though).

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Blame it on Microsoft, God does.

deleted for hasty stupidity.

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Some people are like slinkys...

They aren?t really good for anything, but you can't help but laugh when one tumbles down the stairs.

Oh... thats insurance? Yeah, I was wrong.

Maybe the more expensive ones cover more, or something.

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"If you talk at all during this lesson, you have detention. Do you understand?"

• My yr11 Economics teacher

No, it covers the same :sad:

That's a lot of money. Might as well get a coverage thing from the DMV and front the money (I believe you have to give whatever you'd normally be insured for to the DMV so you don't need insurance). Not sure on the specifics, but I know there are alternatives to having insurance ... which are legal.

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Blame it on Microsoft, God does.