Congratulations on your new job and your recent move! It is all very exciting. One thing that is not so exciting, however, is that your old car has broken down once again. Your mechanic has told you that the repairs will be more than the value of your vehicle. Your current car is fully paid for, but these repair costs are starting to pile up. Public transportation is somewhat available, but you still need your car for your daily life and commute. You must now decide if you should fix it once again or replace it. Decide which path you will choose.

Broken car Problem: Thus far you have shown your mastery of quantitative reasoning and problem-solving using mathematical calculations as applied to financial contexts. For this section of your assessment, select a problem that you are currently facing that would benefit from mathematical or quantitative reasoning. If you are uncomfortable using a personal problem, select one from the Selected Problem Examples document. Explain the issue, the factors involved, and your plan for solving it, and explain the quantitative methodologies you used.

A. Context: Explain the context of the problem. What is the problem? What factors are involved? B. Analysis: Break the problem down into its key pieces. Is this a multistep problem? Are there multiple considerations that will require different

approaches? C. Approach: Explain how you will approach each step or aspect of the situation to solve the problem. What process or method will you use and

why? D. Implementation: Solve the problem. Perform any necessary calculations, showing your work and explaining your process. E. Results: Articulate a logical interpretation of the calculations you performed and the results of your solution approach. What do the results

mean in relation to your particular problem? Discuss the results of the calculations. What do the results mean in terms of the overall situation?