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Unit 3 Project: Buying a Car on Credit In this project, you will pretend to go through the process of a buying a car. First
Unit 3 Project: Buying a Car on Credit In this project, you will pretend to go through the process of a buying a car. First of all, you will pretend to complete a credit application (_). You don't have to put down actual information (except your name), you can make it up. You need to be sure to use realistic values, like salary for job. Your job could be the job you have now or a future job that they aspire to. Find an advertisement for the car of your choice. Find a dealer near you that sells this car and see what incentives they have for loans. Choose two different options. You will then create a report, which includes the following: - Title page - An ad for the car of your choice (URL) - A completed loan application (PDF) - Monthly payments for each option calculated by using the monthly payment formula (Spreadsheet). - Total cost of the loan for each option, including the amount of interest paid (Spreadsheet). - An amortization schedule for each option. - A typed conclusion of which is the best loan option for your situation along with a justification of why. - A summary of what you learned from this project
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