1. (10 marks) Selecting a Vehicle: Read as a reference for Question 1. Previous Content Page in this Unit: U9A1 'Purchasing a Vehicle' Before shopping for a vehicle, it is important to be prepared. One way to prepare is to make a list of needs (what the vehicle must have) and wants (what you would like the vehicle to have). If your wants and needs are specific, then you are less likely to be talked into other features. a) Make a table listing your 'Needs' and your 'Wants' b) What year and type of car do you want to buy? c) Look on the internet and determine the approximate cost of this vehicle. 2 (10 marks) Financing the vehicle a) Assume that your vehicle will be financed. You will need a down payment of 10% in cash. b) Use the Auto Loan Calculator Auto Loan Calculator Notes for using calculator: Current bank rates for car loans are 6% per annum. Sales Tax in Ontario on cars is 13%. Licence fees etc. is approximately $300. Example of Calculator entries: Total Price Monthly Payment Auto Price $5000 Loan Term Interest Rate Down Payment 500 Trade-in Value SO Your State -- Select - Sales Tax Title, Registration $300 and Other Fees Include All Fees in Loan Calculate c) Complete the following table and provide this table in your assignment. Amount of Loan Down Payment Monthly Payment Total cost including interest $5000 165.80 6468.78 $750 $1000 15000 3. Make a Budget. (10 marks) Make a spreadsheet of the following values and submit with your assignment. a) Income: Assume that you are still a student with a part time job earning $18/hour for an average of 60 hours per month. b). Expenses: a) monthly payment depending on car chosen b) estimated gas cost c) insurance estimate ()) estimate of maintenance costs averaged per month e) estimate of licence plate sticker and driver's licence renewal averaged per month c) . How much of your income is left after car expenses? Does this alter the type of vehicle you may purchase? 4. Graph: (10 marks) Use the spreadsheet values from Question 3 and include graph with your assignment a) Make a graph of your expenses. 5. Statistics (10 marks) Determine the Statistical Terms for a data set of vehicles A used car lot called 'Best Used Cars' currently has 10 cars on the lot for sale as follows: 3000, 4000, 4000, 5000, 2500, 6000, 1500, 2500, 2500, 1500 a) Determine the mean, median, mode and range for this data. b) Write a short paragraph describing the cars on the lot of 'Best Used Cars' using the statistical terms