7-4 BUYING A USED CAROBJECTIVES:1)TO FIND THE COST OF A USED CAR2)TO FIND THE COST FOR A MECHANIC TO CHECK THE USED CAR AND REPAIR IT

Warm Up

Calculate: 220 + 175 + 8350 + 8350(0.06) + 3.5(80)

7-4 BUYING A USED CAROBJECTIVES:1)TO FIND THE COST OF A USED CAR2)TO FIND THE COST FOR A MECHANIC TO CHECK THE USED CAR AND REPAIR IT

Homework Answers

7-4 BUYING A USED CAROBJECTIVES:1)TO FIND THE COST OF A USED CAR2)TO FIND THE COST FOR A MECHANIC TO CHECK THE USED CAR AND REPAIR IT

Example 1 p 259

Total Repairs = 345 + 27.50 + 2.5(70) + .05(345 + 27.50)

Total Repairs = 345 + 27.50 + 175 + 18.63

Total Repairs = $566.13

7-4 BUYING A USED CAROBJECTIVES:1)TO FIND THE COST OF A USED CAR2)TO FIND THE COST FOR A MECHANIC TO CHECK THE USED CAR AND REPAIR IT

Example 2 p 259

Total Cost = 10,499 + 645 + 2(55) + .05(10,499)

Total Cost = 10,499 + 645 + 110 + 524.95

Total Cost = $11,778.95

7-4 BUYING A USED CAROBJECTIVES:1)TO FIND THE COST OF A USED CAR2)TO FIND THE COST FOR A MECHANIC TO CHECK THE USED CAR AND REPAIR IT

Example 3 p 259

According to Table 7.2 on p 255, a $20,000 mid-size car would have an accumulated depreciation of (4915 + 2285 + 1835) $9035.

So, an average resale value would be $20,000 – 9035 = $10,965

So, the car in example 2 might be slightly underpriced on average

7-4 BUYING A USED CAROBJECTIVES:1)TO FIND THE COST OF A USED CAR2)TO FIND THE COST FOR A MECHANIC TO CHECK THE USED CAR AND REPAIR IT

Homework

p 260-261#1-4, 9-14