math125 unit 3.docx - NAME MATH125 Unit 3 Submission...

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NAME: MATH125: Unit 3 Submission Assignment Answer Form Logic, Decision Making, and Introduction to Statistics ALL questions below regarding BUYING and LEASING a car must be answered. Show ALL step-by- step calculations, round all of your final price answers correctly to the nearest cent, and include the units of measurement . Upload this modified Answer Form to the intellipath Unit 3 Submission lesson. Make sure you submit your work in a modified MS Word document; handwritten work will not be accepted . If you need assistance, please contact your course instructor. Being well informed, or at least knowing the right questions to ask, can save you from being taken advantage of. The purchase of a car involves so many variables that it is best to have some understanding before you attempt to purchase a car. There are even more variables to consider when you lease a car. For the purpose of this example, you will ignore such things as tax and dealer rebates. Research the differences between buying and leasing a car. BUYING 1. Choose a car that you wish to own, and find the price of this car. For this example, only consider new cars to purchase from a dealership. This will be your principal value, P . (3 points) Principal, P $ 30,000 2. Research available interest rates on this particular car. This will be the rate, r . (3 points) Rate in decimal form, r 0.17 3. Decide how long you would like to take to pay off this car. Choose within 2 to 5 years. This will be the time, t . (3 points) Time,
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