Name: ______________________________ Date: ________________________________
Chapter 7 Assignment
MAP4C
Mr. Nguyen
Mr. Nguyen is looking to actually buy a car, you will help him decide from what dealership
provides the best deal for him.
Restrictions:
- Honda Civic Hatchback 2017
- Used car with roughly 15,000 – 35,000 kms. (Typically a car uses 20,000 km per year)
- Drives an automatic
- No care for colour
- Willing to do a down-payment of $0 - $10,000
- Going to be financing a car, NOT leasing.
Your task: To decide on plan for a Honda Civic Hatchback 2017 car that is near the GTA
(Niagara Falls, Toronto, Brampton).
Use a variety of websites to find one financing plan for the car:
- [Link] -> Input: honda civic hatchback 2017 used gta
- [Link] -> Input: Dropdown menus of Models, Makes, Years etc…
- [Link] -> Input: Dropdown menus of Models, Makes, Years etc…
- [Link] ** does not give dealership prices, but a base price that many dealerships follow
Indicate what dealership you have chosen, include a website link:
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Try to Answer the following questions:
What is the cost of the vehicle?
How many kilometres does the vehicle have?
What features does the car have?
Cost with HST (13%)?
What have you decided the down payment should be?
Name: ______________________________ Date: ________________________________
How many months is the annuity for?
What is the compounding rate?
What is the monthly payment?
What is the interest rate? (If you cannot find out, use 5%)
Describe the option you chose in a couple paragraphs:
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Name: ______________________________ Date: ________________________________
Chapter 7 Assignment
Mr. Nguyen pays $475 a month for a car. With a depreciation of 10% compounded annually for
5 years.
a) Determine the Future Value of the car. What does this represent?
b) Determine the Present Value of the car. What does this represent?