Simple Interest

First Car Project
Mrs. Mierta

This is a simple interest project.  Pretend you are purchasing your first car.  You will be commuting to college and you need this vehicle for transporation.  Your parents will not be paying for the car, nor any of the expenses that accompany owning a car.  Follow the required steps to complete this project by using the packet received in class.

Required steps in this project (see your packet for more details):

  1. Select a car and obtain the actual car advertisement from the newspaper, or internet.
  2. Research pro & con for a used and a new car.
  3. Calculate a "ball park" monthly payment (see rough draft).
  4. Complete exponential decay model (Algebra I students only & extra credit all other classes).
  5. Using the internet, obtain and print:   
    a) Kelly Blue Book Facts to see if your car or similar car, is a good deal    
    b) Computer calculated monthly payment amount     
  6. Make a creative poster

Helpful Websites:

Kelley Blue Book
Used Auto Loans by State
Car Loan Calculator