Assignment Prompt & Instructions
Please see intructions
**files (2)**
– ## PowerPointProductChallenge.pdf
– ## Lesson8.6.pptx
**## PowerPointProductChallenge.pdf**
PowerPoint Product Challenge
POWERPOINT PRODUCT CHALLENGE
Choose It → Create It → Share It
This week, instead of simply reading the PowerPoints and taking notes, you will turn the content provided into something
that could help another student understand the mathematics.
You may use AI to help create your product, but YOU are responsible for the thinking, checking, and mathematics. You
may complete this assignment individually or with one partner.
1. CHOOSE IT
Choose ONE of the two PowerPoints provided this week. After reviewing your selected PowerPoint, choose ONE product
from the Choice Board below to show what you learned.
STUDY GUIDE
Create a one-page visual study guide that
teaches the important mathematics.
TEACH IT
Create a 2–3 minute mini-lesson teaching an
important concept or example.
FIND THE ERROR
Turn a correct example into a believable
incorrect solution. Find the error, explain it,
and fix it.
REAL-LIFE MATH
Put mathematics from the PowerPoint into a
realistic situation and explain the connection.
CONCEPT MAP
Create a visual map connecting vocabulary,
formulas, examples, and mathematical
ideas.
MATH COMIC
Turn mathematics from the PowerPoint into a
short comic or graphic story.
INFOGRAPHIC
Create an infographic that teaches the
mathematics using visuals and explanations.
MATH ROAD MAP
Create a decision tree or flowchart showing
how to decide what mathematical method or
formula to use.
WILD CARD
Create your own type of product that teaches
the mathematics and meets all assignment
requirements.
2. CREATE IT
Use information from at least 3 slides in your selected PowerPoint.
Your product must include the same 4 clearly labeled parts:
SEE IT — What is it?
Identify the mathematical concept, formula, procedure, graph, or idea you selected from the PowerPoint.
SAY IT — What does it mean?
Explain the mathematics in your own words as if you were helping another student understand it. Do not simply copy the
explanation from the PowerPoint.
DO IT — How does it work?
Use mathematics or an example from the PowerPoint. Show the important mathematical steps needed for another
student to understand how the example works.
CONNECT IT — Why does it matter?
Explain how the mathematics connects to a real situation, another mathematical idea, OR something important a student
should remember.
PowerPoint Product Challenge
LABEL YOUR WORK
Your instructor should not have to search through your product to determine where each requirement is located.
Use the guide below to help you label your work based on the product you have chosen.
Study Guide Use four labeled sections.
Teach-It Video Display or say each label as you move through your lesson.
Find the Error Organize your investigation under the four labels.
Real-Life Math Use the labels as headings for your scenario and
explanation.
Concept Map Create four clearly identified branches or areas.
Math Comic Include the labels in individual panels or above groups of
panels.
Infographic Create four labeled sections.
Math Road Map Make the four labels stops or stages along your road map.
Wild Card Use the four labels somewhere in your creative format.
USING AI
You MAY use AI to help with:
• Design and layout
• Images or illustrations
• Characters or dialogue
• Organization
• Video scripts
• Comic layouts
• Infographic designs
• Realistic situations
• Making your presentation more engaging
AI may help you transform the mathematics, but it should not replace your understanding of it.
PowerPoint Product Challenge
3. SHARE IT
First, COPY AND COMPLETE THIS AT THE TOP OF YOUR POST:
POWERPOINT: ______________________________________________
PRODUCT: _________________________________________________
SLIDES USED: __________, __________, __________
I WORKED (individually or with a partner) _______________________________________________
AI USED: Yes / No
MY CHECK: One thing I personally checked, corrected, changed, or improved was: _________________
SECOND, UPLOAD YOUR PRODUCT
4. RESPOND TO ONE CLASSMATE
After sharing your product, choose ONE classmate who created a different product or used the other PowerPoint
whenever possible.
Review ONE classmate's product, choosing a different product or PowerPoint when possible. Then post a 3–2–1
Response:
3 — Things You Noticed: Identify 3 specific things that stood out in their See It, Say It, Do It, or Connect It sections.
2 — Things You Learned: Share 2 mathematical ideas their product helped you understand or remember.
1 — Question or Connection: Ask 1 thoughtful question about the mathematics OR make 1 additional connection to their
work.
Be specific and show that you carefully reviewed the mathematics. “Good job” or “I like your project” does not count as a
complete response.
PowerPoint Product Challenge
GRADING — 30 POINTS
Category MEETS — 5 pts DEVELOPING — 3 pts MISSING — 0 pts
PowerPoint Evidence Clearly uses the
selected PowerPoint
and identifies at least 3
relevant slides.
PowerPoint is used, but
slide evidence is
incomplete or unclear.
Little evidence that the
PowerPoint was used.
See It + Say It Both sections are
clearly labeled and easy
to locate. Mathematics
is correctly identified
and explained in the
student's own words.
Sections are present but
labeling, explanation, or
understanding needs
development.
Sections are
substantially missing or
demonstrate major
misunderstanding.
Do It + Connect It Both sections are
clearly labeled and easy
to locate. Mathematics
is correctly
demonstrated and a
meaningful connection
is explained.
Sections are present but
mathematical work or
connection needs
development.
Sections are
substantially missing.
Student Thinking + AI
Use
Student's own thinking
is evident. If AI is used,
its work is checked and
meaningfully changed,
corrected, improved, or
personalized.
Some student thinking
is evident, but checking
or personalization
needs development.
Little evidence of
student's own thinking
or responsible AI use.
Finished Product +
Accuracy
Product is complete,
organized,
mathematically
accurate, and helps
another student
understand the
concept.
Product is mostly
complete but contains
errors or areas that are
difficult to follow.
Product is substantially
incomplete or contains
major mathematical
errors.
Peer Response Meaningful response
clearly identifies
something learned from
a classmate's product
and explains why it
helped.
Response is present but
superficial or
incomplete.
Required peer response
is missing.
TOTAL: 30 POINTS Product: 25 points Peer Response: 5 points
**## Lesson8.6.pptx**
CHAPTER 8
Personal Finance
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
8.6
Cars
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Objectives
1. Compute the monthly payment and interest costs for a car loan.
2. Compute the monthly car payment for a car loan using a spreadsheet.
3. Understand the types of leasing contracts.
4. Understand the pros and cons of leasing versus buying a car.
5. Understand the different kinds of car insurance.
6. Compare monthly payments on new and used cars.
7. Solve problems related to owning and operating a car.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
3
Mathematics of Financing a Car
A loan that you pay off with weekly or monthly payments, or payments in some other time period, is called an installment loan. The advantage of an installment loan is that the consumer gets to use a product immediately. The disadvantage is that the interest can add a substantial amount to the cost of a purchase. Let’s begin with car loans in which you make regular monthly payments, called fixed installment loans.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
4
Loan Payment Formula for Fixed Installment Loans
The regular payment amount, PMT, required to repay a loan of P dollars paid n times per year over t years at an annual rate r is given by
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 1: Comparing Car Loans
Suppose that you decide to borrow $30,000 for a new car. You can select one of the following loans, each requiring regular monthly payments:
Installment Loan A: four-year loan at 3%
Installment Loan B: six-year loan at 4%.
a. Find the monthly payments and the total interest for Loan A.
b. Find the monthly payments and the total interest for Loan B.
c. Compare the monthly payments and total interest for the two loans.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 1: Comparing Car Loans (continued)
a. Determine the monthly payment and total interest for Loan A.
Monthly payment are about $644.
Interest: $644(48) − $30,000
= $1872
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
7
Example 1: Comparing Car Loans (continued)
b. Determine the monthly payment and total interest for Loan B.
Monthly payment are about $469.
Interest: $469(72) − $30,000
= $3768
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 1: Comparing Car Loans (continued)
c. Compare
| | | |
| — | — | — |
| $30,000 loan | Monthly Payment | Total Interest |
| 4-year loan at 7% | $664 | $1872 |
| 6-year loan at 9% | $469 | $3768 |
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
The Leasing Alternative
Leasing is the practice of paying a specified amount of money over a specified time for the use of a product. Leasing is essentially a long-term rental agreement.
A closed-end lease: Each month, you make a fixed payment based on estimated usage. When the lease ends, you return the car and pay for mileage in excess of your estimate.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
The Leasing Alternative (continued)
An open-end lease: Each month you make a fixed payment based on the car’s residual value. Residual value is the estimated resale value of the car at the end of the lease and is determined by the dealer. When the lease ends, you return the car and make a payment based on its appraised value at that time compared to its residual value. If the appraised value is less than the residual value stated in the lease, you pay all or a portion of the difference. If the appraised value is greater than or equal to the residual value, you owe nothing and you may receive a refund.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Advantages
Leases require only a small down payment, or no down payment at all.
Lease payments for a new car are lower than loan payments for the same car. Most people can lease a more expensive car than they would be able to buy.
When the lease ends, you return the car to the dealer and do not have to be concerned about selling the car.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Disadvantages
• When the lease ends, you do not own the car.
• Most lease agreements have mileage limits: 12,000 to 15,000 miles per year is common. If you exceed the number of miles allowed, there can be considerable charges.
• When mileage penalties and other costs at the end of the leasing period are taken into consideration, the total cost of leasing is almost always more expensive than financing a car.
• While leasing the car, you are responsible for keeping it in perfect condition. You are liable for any damage to the car.
• Leasing does not cover maintenance.
• There are penalties for ending the lease early.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Auto Insurance
When you purchase insurance, you buy protection against loss associated with unexpected events. Different types of coverage are associated with auto insurance, but the one required by nearly every state is liability. There are two components of liability coverage:
• Bodily injury liability covers the costs of lawsuits if someone is injured or killed in an accident in which you are at fault.
• Property damage liability covers damage to other cars and property from negligent operation of your vehicle.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Auto Insurance (continued)
Collision coverage pays for damage or loss of your car if you’re in an accident.
• Comprehensive coverage protects your car from perils such as fire, theft, falling objects, acts of nature, and collision with an animal.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 3: Saving Money with a Used Car
Suppose that you are thinking about buying a car and have narrowed down your choices to two options:
• The new-car option: The new car costs $35,000 and can be financed with a four-year loan at 2.9%.
• The used-car option: A three-year-old model of the same car costs $24,000 and can be financed with a five-year loan at 3.6%.
What is the difference in monthly payments between financing the new car and financing the used car?
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example: (cont)
Determine the monthly payments for the new car that costs $35,000, financed with a five-year loan at 2.9%.
The monthly payments for the new car are approximately $627.
Example 3: Saving Money with a Used Car (continued)
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 3: Saving Money with a Used Car (continued)
Alternately, determine the monthly payments for the used car that costs $24,000, financed with a five-year loan at 3.6%.
The monthly payments for the used car are approximately $438. The difference in monthly payments between the new-car loan, $627, and the used-car loan, $438, is $627 − $438, or $189.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
The Money Pit of Car Ownership
Buying a car is a huge expense. To make matters worse, the car continues costing money af
**## Lesson8.6.pptx**
CHAPTER 8
Personal Finance
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
8.6
Cars
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Objectives
1. Compute the monthly payment and interest costs for a car loan.
2. Compute the monthly car payment for a car loan using a spreadsheet.
3. Understand the types of leasing contracts.
4. Understand the pros and cons of leasing versus buying a car.
5. Understand the different kinds of car insurance.
6. Compare monthly payments on new and used cars.
7. Solve problems related to owning and operating a car.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
3
Mathematics of Financing a Car
A loan that you pay off with weekly or monthly payments, or payments in some other time period, is called an installment loan. The advantage of an installment loan is that the consumer gets to use a product immediately. The disadvantage is that the interest can add a substantial amount to the cost of a purchase. Let’s begin with car loans in which you make regular monthly payments, called fixed installment loans.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
4
Loan Payment Formula for Fixed Installment Loans
The regular payment amount, PMT, required to repay a loan of P dollars paid n times per year over t years at an annual rate r is given by
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 1: Comparing Car Loans
Suppose that you decide to borrow $30,000 for a new car. You can select one of the following loans, each requiring regular monthly payments:
Installment Loan A: four-year loan at 3%
Installment Loan B: six-year loan at 4%.
a. Find the monthly payments and the total interest for Loan A.
b. Find the monthly payments and the total interest for Loan B.
c. Compare the monthly payments and total interest for the two loans.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 1: Comparing Car Loans (continued)
a. Determine the monthly payment and total interest for Loan A.
Monthly payment are about $644.
Interest: $644(48) − $30,000
= $1872
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
7
Example 1: Comparing Car Loans (continued)
b. Determine the monthly payment and total interest for Loan B.
Monthly payment are about $469.
Interest: $469(72) − $30,000
= $3768
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 1: Comparing Car Loans (continued)
c. Compare
| | | |
| — | — | — |
| $30,000 loan | Monthly Payment | Total Interest |
| 4-year loan at 7% | $664 | $1872 |
| 6-year loan at 9% | $469 | $3768 |
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
The Leasing Alternative
Leasing is the practice of paying a specified amount of money over a specified time for the use of a product. Leasing is essentially a long-term rental agreement.
A closed-end lease: Each month, you make a fixed payment based on estimated usage. When the lease ends, you return the car and pay for mileage in excess of your estimate.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
The Leasing Alternative (continued)
An open-end lease: Each month you make a fixed payment based on the car’s residual value. Residual value is the estimated resale value of the car at the end of the lease and is determined by the dealer. When the lease ends, you return the car and make a payment based on its appraised value at that time compared to its residual value. If the appraised value is less than the residual value stated in the lease, you pay all or a portion of the difference. If the appraised value is greater than or equal to the residual value, you owe nothing and you may receive a refund.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Advantages
Leases require only a small down payment, or no down payment at all.
Lease payments for a new car are lower than loan payments for the same car. Most people can lease a more expensive car than they would be able to buy.
When the lease ends, you return the car to the dealer and do not have to be concerned about selling the car.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Disadvantages
• When the lease ends, you do not own the car.
• Most lease agreements have mileage limits: 12,000 to 15,000 miles per year is common. If you exceed the number of miles allowed, there can be considerable charges.
• When mileage penalties and other costs at the end of the leasing period are taken into consideration, the total cost of leasing is almost always more expensive than financing a car.
• While leasing the car, you are responsible for keeping it in perfect condition. You are liable for any damage to the car.
• Leasing does not cover maintenance.
• There are penalties for ending the lease early.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Auto Insurance
When you purchase insurance, you buy protection against loss associated with unexpected events. Different types of coverage are associated with auto insurance, but the one required by nearly every state is liability. There are two components of liability coverage:
• Bodily injury liability covers the costs of lawsuits if someone is injured or killed in an accident in which you are at fault.
• Property damage liability covers damage to other cars and property from negligent operation of your vehicle.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Auto Insurance (continued)
Collision coverage pays for damage or loss of your car if you’re in an accident.
• Comprehensive coverage protects your car from perils such as fire, theft, falling objects, acts of nature, and collision with an animal.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 3: Saving Money with a Used Car
Suppose that you are thinking about buying a car and have narrowed down your choices to two options:
• The new-car option: The new car costs $35,000 and can be financed with a four-year loan at 2.9%.
• The used-car option: A three-year-old model of the same car costs $24,000 and can be financed with a five-year loan at 3.6%.
What is the difference in monthly payments between financing the new car and financing the used car?
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example: (cont)
Determine the monthly payments for the new car that costs $35,000, financed with a five-year loan at 2.9%.
The monthly payments for the new car are approximately $627.
Example 3: Saving Money with a Used Car (continued)
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 3: Saving Money with a Used Car (continued)
Alternately, determine the monthly payments for the used car that costs $24,000, financed with a five-year loan at 3.6%.
The monthly payments for the used car are approximately $438. The difference in monthly payments between the new-car loan, $627, and the used-car loan, $438, is $627 − $438, or $189.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
The Money Pit of Car Ownership
Buying a car is a huge expense. To make matters worse, the car continues costing money af
**## PowerPointProductChallenge.pdf**
PowerPoint Product Challenge
POWERPOINT PRODUCT CHALLENGE
Choose It → Create It → Share It
This week, instead of simply reading the PowerPoints and taking notes, you will turn the content provided into something
that could help another student understand the mathematics.
You may use AI to help create your product, but YOU are responsible for the thinking, checking, and mathematics. You
may complete this assignment individually or with one partner.
1. CHOOSE IT
Choose ONE of the two PowerPoints provided this week. After reviewing your selected PowerPoint, choose ONE product
from the Choice Board below to show what you learned.
STUDY GUIDE
Create a one-page visual study guide that
teaches the important mathematics.
TEACH IT
Create a 2–3 minute mini-lesson teaching an
important concept or example.
FIND THE ERROR
Turn a correct example into a believable
incorrect solution. Find the error, explain it,
and fix it.
REAL-LIFE MATH
Put mathematics from the PowerPoint into a
realistic situation and explain the connection.
CONCEPT MAP
Create a visual map connecting vocabulary,
formulas, examples, and mathematical
ideas.
MATH COMIC
Turn mathematics from the PowerPoint into a
short comic or graphic story.
INFOGRAPHIC
Create an infographic that teaches the
mathematics using visuals and explanations.
MATH ROAD MAP
Create a decision tree or flowchart showing
how to decide what mathematical method or
formula to use.
WILD CARD
Create your own type of product that teaches
the mathematics and meets all assignment
requirements.
2. CREATE IT
Use information from at least 3 slides in your selected PowerPoint.
Your product must include the same 4 clearly labeled parts:
SEE IT — What is it?
Identify the mathematical concept, formula, procedure, graph, or idea you selected from the PowerPoint.
SAY IT — What does it mean?
Explain the mathematics in your own words as if you were helping another student understand it. Do not simply copy the
explanation from the PowerPoint.
DO IT — How does it work?
Use mathematics or an example from the PowerPoint. Show the important mathematical steps needed for another
student to understand how the example works.
CONNECT IT — Why does it matter?
Explain how the mathematics connects to a real situation, another mathematical idea, OR something important a student
should remember.
PowerPoint Product Challenge
LABEL YOUR WORK
Your instructor should not have to search through your product to determine where each requirement is located.
Use the guide below to help you label your work based on the product you have chosen.
Study Guide Use four labeled sections.
Teach-It Video Display or say each label as you move through your lesson.
Find the Error Organize your investigation under the four labels.
Real-Life Math Use the labels as headings for your scenario and
explanation.
Concept Map Create four clearly identified branches or areas.
Math Comic Include the labels in individual panels or above groups of
panels.
Infographic Create four labeled sections.
Math Road Map Make the four labels stops or stages along your road map.
Wild Card Use the four labels somewhere in your creative format.
USING AI
You MAY use AI to help with:
• Design and layout
• Images or illustrations
• Characters or dialogue
• Organization
• Video scripts
• Comic layouts
• Infographic designs
• Realistic situations
• Making your presentation more engaging
AI may help you transform the mathematics, but it should not replace your understanding of it.
PowerPoint Product Challenge
3. SHARE IT
First, COPY AND COMPLETE THIS AT THE TOP OF YOUR POST:
POWERPOINT: ______________________________________________
PRODUCT: _________________________________________________
SLIDES USED: __________, __________, __________
I WORKED (individually or with a partner) _______________________________________________
AI USED: Yes / No
MY CHECK: One thing I personally checked, corrected, changed, or improved was: _________________
SECOND, UPLOAD YOUR PRODUCT
4. RESPOND TO ONE CLASSMATE
After sharing your product, choose ONE classmate who created a different product or used the other PowerPoint
whenever possible.
Review ONE classmate's product, choosing a different product or PowerPoint when possible. Then post a 3–2–1
Response:
3 — Things You Noticed: Identify 3 specific things that stood out in their See It, Say It, Do It, or Connect It sections.
2 — Things You Learned: Share 2 mathematical ideas their product helped you understand or remember.
1 — Question or Connection: Ask 1 thoughtful question about the mathematics OR make 1 additional connection to their
work.
Be specific and show that you carefully reviewed the mathematics. “Good job” or “I like your project” does not count as a
complete response.
PowerPoint Product Challenge
GRADING — 30 POINTS
Category MEETS — 5 pts DEVELOPING — 3 pts MISSING — 0 pts
PowerPoint Evidence Clearly uses the
selected PowerPoint
and identifies at least 3
relevant slides.
PowerPoint is used, but
slide evidence is
incomplete or unclear.
Little evidence that the
PowerPoint was used.
See It + Say It Both sections are
clearly labeled and easy
to locate. Mathematics
is correctly identified
and explained in the
student's own words.
Sections are present but
labeling, explanation, or
understanding needs
development.
Sections are
substantially missing or
demonstrate major
misunderstanding.
Do It + Connect It Both sections are
clearly labeled and easy
to locate. Mathematics
is correctly
demonstrated and a
meaningful connection
is explained.
Sections are present but
mathematical work or
connection needs
development.
Sections are
substantially missing.
Student Thinking + AI
Use
Student's own thinking
is evident. If AI is used,
its work is checked and
meaningfully changed,
corrected, improved, or
personalized.
Some student thinking
is evident, but checking
or personalization
needs development.
Little evidence of
student's own thinking
or responsible AI use.
Finished Product +
Accuracy
Product is complete,
organized,
mathematically
accurate, and helps
another student
understand the
concept.
Product is mostly
complete but contains
errors or areas that are
difficult to follow.
Product is substantially
incomplete or contains
major mathematical
errors.
Peer Response Meaningful response
clearly identifies
something learned from
a classmate's product
and explains why it
helped.
Response is present but
superficial or
incomplete.
Required peer response
is missing.
TOTAL: 30 POINTS Product: 25 points Peer Response: 5 points
**## Lesson8.6.pptx**
CHAPTER 8
Personal Finance
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
8.6
Cars
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Objectives
1. Compute the monthly payment and interest costs for a car loan.
2. Compute the monthly car payment for a car loan using a spreadsheet.
3. Understand the types of leasing contracts.
4. Understand the pros and cons of leasing versus buying a car.
5. Understand the different kinds of car insurance.
6. Compare monthly payments on new and used cars.
7. Solve problems related to owning and operating a car.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
3
Mathematics of Financing a Car
A loan that you pay off with weekly or monthly payments, or payments in some other time period, is called an installment loan. The advantage of an installment loan is that the consumer gets to use a product immediately. The disadvantage is that the interest can add a substantial amount to the cost of a purchase. Let’s begin with car loans in which you make regular monthly payments, called fixed installment loans.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
4
Loan Payment Formula for Fixed Installment Loans
The regular payment amount, PMT, required to repay a loan of P dollars paid n times per year over t years at an annual rate r is given by
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 1: Comparing Car Loans
Suppose that you decide to borrow $30,000 for a new car. You can select one of the following loans, each requiring regular monthly payments:
Installment Loan A: four-year loan at 3%
Installment Loan B: six-year loan at 4%.
a. Find the monthly payments and the total interest for Loan A.
b. Find the monthly payments and the total interest for Loan B.
c. Compare the monthly payments and total interest for the two loans.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 1: Comparing Car Loans (continued)
a. Determine the monthly payment and total interest for Loan A.
Monthly payment are about $644.
Interest: $644(48) − $30,000
= $1872
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
7
Example 1: Comparing Car Loans (continued)
b. Determine the monthly payment and total interest for Loan B.
Monthly payment are about $469.
Interest: $469(72) − $30,000
= $3768
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 1: Comparing Car Loans (continued)
c. Compare
| | | |
| — | — | — |
| $30,000 loan | Monthly Payment | Total Interest |
| 4-year loan at 7% | $664 | $1872 |
| 6-year loan at 9% | $469 | $3768 |
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
The Leasing Alternative
Leasing is the practice of paying a specified amount of money over a specified time for the use of a product. Leasing is essentially a long-term rental agreement.
A closed-end lease: Each month, you make a fixed payment based on estimated usage. When the lease ends, you return the car and pay for mileage in excess of your estimate.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
The Leasing Alternative (continued)
An open-end lease: Each month you make a fixed payment based on the car’s residual value. Residual value is the estimated resale value of the car at the end of the lease and is determined by the dealer. When the lease ends, you return the car and make a payment based on its appraised value at that time compared to its residual value. If the appraised value is less than the residual value stated in the lease, you pay all or a portion of the difference. If the appraised value is greater than or equal to the residual value, you owe nothing and you may receive a refund.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Advantages
Leases require only a small down payment, or no down payment at all.
Lease payments for a new car are lower than loan payments for the same car. Most people can lease a more expensive car than they would be able to buy.
When the lease ends, you return the car to the dealer and do not have to be concerned about selling the car.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Disadvantages
• When the lease ends, you do not own the car.
• Most lease agreements have mileage limits: 12,000 to 15,000 miles per year is common. If you exceed the number of miles allowed, there can be considerable charges.
• When mileage penalties and other costs at the end of the leasing period are taken into consideration, the total cost of leasing is almost always more expensive than financing a car.
• While leasing the car, you are responsible for keeping it in perfect condition. You are liable for any damage to the car.
• Leasing does not cover maintenance.
• There are penalties for ending the lease early.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Auto Insurance
When you purchase insurance, you buy protection against loss associated with unexpected events. Different types of coverage are associated with auto insurance, but the one required by nearly every state is liability. There are two components of liability coverage:
• Bodily injury liability covers the costs of lawsuits if someone is injured or killed in an accident in which you are at fault.
• Property damage liability covers damage to other cars and property from negligent operation of your vehicle.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Auto Insurance (continued)
Collision coverage pays for damage or loss of your car if you’re in an accident.
• Comprehensive coverage protects your car from perils such as fire, theft, falling objects, acts of nature, and collision with an animal.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 3: Saving Money with a Used Car
Suppose that you are thinking about buying a car and have narrowed down your choices to two options:
• The new-car option: The new car costs $35,000 and can be financed with a four-year loan at 2.9%.
• The used-car option: A three-year-old model of the same car costs $24,000 and can be financed with a five-year loan at 3.6%.
What is the difference in monthly payments between financing the new car and financing the used car?
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example: (cont)
Determine the monthly payments for the new car that costs $35,000, financed with a five-year loan at 2.9%.
The monthly payments for the new car are approximately $627.
Example 3: Saving Money with a Used Car (continued)
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 3: Saving Money with a Used Car (continued)
Alternately, determine the monthly payments for the used car that costs $24,000, financed with a five-year loan at 3.6%.
The monthly payments for the used car are approximately $438. The difference in monthly payments between the new-car loan, $627, and the used-car loan, $438, is $627 − $438, or $189.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
The Money Pit of Car Ownership
Buying a car is a huge expense. To make matters worse, the car continues costing money af
**## PowerPointProductChallenge.pdf**
PowerPoint Product Challenge
POWERPOINT PRODUCT CHALLENGE
Choose It → Create It → Share It
This week, instead of simply reading the PowerPoints and taking notes, you will turn the content provided into something
that could help another student understand the mathematics.
You may use AI to help create your product, but YOU are responsible for the thinking, checking, and mathematics. You
may complete this assignment individually or with one partner.
1. CHOOSE IT
Choose ONE of the two PowerPoints provided this week. After reviewing your selected PowerPoint, choose ONE product
from the Choice Board below to show what you learned.
STUDY GUIDE
Create a one-page visual study guide that
teaches the important mathematics.
TEACH IT
Create a 2–3 minute mini-lesson teaching an
important concept or example.
FIND THE ERROR
Turn a correct example into a believable
incorrect solution. Find the error, explain it,
and fix it.
REAL-LIFE MATH
Put mathematics from the PowerPoint into a
realistic situation and explain the connection.
CONCEPT MAP
Create a visual map connecting vocabulary,
formulas, examples, and mathematical
ideas.
MATH COMIC
Turn mathematics from the PowerPoint into a
short comic or graphic story.
INFOGRAPHIC
Create an infographic that teaches the
mathematics using visuals and explanations.
MATH ROAD MAP
Create a decision tree or flowchart showing
how to decide what mathematical method or
formula to use.
WILD CARD
Create your own type of product that teaches
the mathematics and meets all assignment
requirements.
2. CREATE IT
Use information from at least 3 slides in your selected PowerPoint.
Your product must include the same 4 clearly labeled parts:
SEE IT — What is it?
Identify the mathematical concept, formula, procedure, graph, or idea you selected from the PowerPoint.
SAY IT — What does it mean?
Explain the mathematics in your own words as if you were helping another student understand it. Do not simply copy the
explanation from the PowerPoint.
DO IT — How does it work?
Use mathematics or an example from the PowerPoint. Show the important mathematical steps needed for another
student to understand how the example works.
CONNECT IT — Why does it matter?
Explain how the mathematics connects to a real situation, another mathematical idea, OR something important a student
should remember.
PowerPoint Product Challenge
LABEL YOUR WORK
Your instructor should not have to search through your product to determine where each requirement is located.
Use the guide below to help you label your work based on the product you have chosen.
Study Guide Use four labeled sections.
Teach-It Video Display or say each label as you move through your lesson.
Find the Error Organize your investigation under the four labels.
Real-Life Math Use the labels as headings for your scenario and
explanation.
Concept Map Create four clearly identified branches or areas.
Math Comic Include the labels in individual panels or above groups of
panels.
Infographic Create four labeled sections.
Math Road Map Make the four labels stops or stages along your road map.
Wild Card Use the four labels somewhere in your creative format.
USING AI
You MAY use AI to help with:
• Design and layout
• Images or illustrations
• Characters or dialogue
• Organization
• Video scripts
• Comic layouts
• Infographic designs
• Realistic situations
• Making your presentation more engaging
AI may help you transform the mathematics, but it should not replace your understanding of it.
PowerPoint Product Challenge
3. SHARE IT
First, COPY AND COMPLETE THIS AT THE TOP OF YOUR POST:
POWERPOINT: ______________________________________________
PRODUCT: _________________________________________________
SLIDES USED: __________, __________, __________
I WORKED (individually or with a partner) _______________________________________________
AI USED: Yes / No
MY CHECK: One thing I personally checked, corrected, changed, or improved was: _________________
SECOND, UPLOAD YOUR PRODUCT
4. RESPOND TO ONE CLASSMATE
After sharing your product, choose ONE classmate who created a different product or used the other PowerPoint
whenever possible.
Review ONE classmate's product, choosing a different product or PowerPoint when possible. Then post a 3–2–1
Response:
3 — Things You Noticed: Identify 3 specific things that stood out in their See It, Say It, Do It, or Connect It sections.
2 — Things You Learned: Share 2 mathematical ideas their product helped you understand or remember.
1 — Question or Connection: Ask 1 thoughtful question about the mathematics OR make 1 additional connection to their
work.
Be specific and show that you carefully reviewed the mathematics. “Good job” or “I like your project” does not count as a
complete response.
PowerPoint Product Challenge
GRADING — 30 POINTS
Category MEETS — 5 pts DEVELOPING — 3 pts MISSING — 0 pts
PowerPoint Evidence Clearly uses the
selected PowerPoint
and identifies at least 3
relevant slides.
PowerPoint is used, but
slide evidence is
incomplete or unclear.
Little evidence that the
PowerPoint was used.
See It + Say It Both sections are
clearly labeled and easy
to locate. Mathematics
is correctly identified
and explained in the
student's own words.
Sections are present but
labeling, explanation, or
understanding needs
development.
Sections are
substantially missing or
demonstrate major
misunderstanding.
Do It + Connect It Both sections are
clearly labeled and easy
to locate. Mathematics
is correctly
demonstrated and a
meaningful connection
is explained.
Sections are present but
mathematical work or
connection needs
development.
Sections are
substantially missing.
Student Thinking + AI
Use
Student's own thinking
is evident. If AI is used,
its work is checked and
meaningfully changed,
corrected, improved, or
personalized.
Some student thinking
is evident, but checking
or personalization
needs development.
Little evidence of
student's own thinking
or responsible AI use.
Finished Product +
Accuracy
Product is complete,
organized,
mathematically
accurate, and helps
another student
understand the
concept.
Product is mostly
complete but contains
errors or areas that are
difficult to follow.
Product is substantially
incomplete or contains
major mathematical
errors.
Peer Response Meaningful response
clearly identifies
something learned from
a classmate's product
and explains why it
helped.
Response is present but
superficial or
incomplete.
Required peer response
is missing.
TOTAL: 30 POINTS Product: 25 points Peer Response: 5 points
**## Lesson8.6.pptx**
CHAPTER 8
Personal Finance
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
8.6
Cars
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Objectives
1. Compute the monthly payment and interest costs for a car loan.
2. Compute the monthly car payment for a car loan using a spreadsheet.
3. Understand the types of leasing contracts.
4. Understand the pros and cons of leasing versus buying a car.
5. Understand the different kinds of car insurance.
6. Compare monthly payments on new and used cars.
7. Solve problems related to owning and operating a car.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
3
Mathematics of Financing a Car
A loan that you pay off with weekly or monthly payments, or payments in some other time period, is called an installment loan. The advantage of an installment loan is that the consumer gets to use a product immediately. The disadvantage is that the interest can add a substantial amount to the cost of a purchase. Let’s begin with car loans in which you make regular monthly payments, called fixed installment loans.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
4
Loan Payment Formula for Fixed Installment Loans
The regular payment amount, PMT, required to repay a loan of P dollars paid n times per year over t years at an annual rate r is given by
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 1: Comparing Car Loans
Suppose that you decide to borrow $30,000 for a new car. You can select one of the following loans, each requiring regular monthly payments:
Installment Loan A: four-year loan at 3%
Installment Loan B: six-year loan at 4%.
a. Find the monthly payments and the total interest for Loan A.
b. Find the monthly payments and the total interest for Loan B.
c. Compare the monthly payments and total interest for the two loans.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 1: Comparing Car Loans (continued)
a. Determine the monthly payment and total interest for Loan A.
Monthly payment are about $644.
Interest: $644(48) − $30,000
= $1872
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
7
Example 1: Comparing Car Loans (continued)
b. Determine the monthly payment and total interest for Loan B.
Monthly payment are about $469.
Interest: $469(72) − $30,000
= $3768
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 1: Comparing Car Loans (continued)
c. Compare
| | | |
| — | — | — |
| $30,000 loan | Monthly Payment | Total Interest |
| 4-year loan at 7% | $664 | $1872 |
| 6-year loan at 9% | $469 | $3768 |
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
The Leasing Alternative
Leasing is the practice of paying a specified amount of money over a specified time for the use of a product. Leasing is essentially a long-term rental agreement.
A closed-end lease: Each month, you make a fixed payment based on estimated usage. When the lease ends, you return the car and pay for mileage in excess of your estimate.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
The Leasing Alternative (continued)
An open-end lease: Each month you make a fixed payment based on the car’s residual value. Residual value is the estimated resale value of the car at the end of the lease and is determined by the dealer. When the lease ends, you return the car and make a payment based on its appraised value at that time compared to its residual value. If the appraised value is less than the residual value stated in the lease, you pay all or a portion of the difference. If the appraised value is greater than or equal to the residual value, you owe nothing and you may receive a refund.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Advantages
Leases require only a small down payment, or no down payment at all.
Lease payments for a new car are lower than loan payments for the same car. Most people can lease a more expensive car than they would be able to buy.
When the lease ends, you return the car to the dealer and do not have to be concerned about selling the car.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Disadvantages
• When the lease ends, you do not own the car.
• Most lease agreements have mileage limits: 12,000 to 15,000 miles per year is common. If you exceed the number of miles allowed, there can be considerable charges.
• When mileage penalties and other costs at the end of the leasing period are taken into consideration, the total cost of leasing is almost always more expensive than financing a car.
• While leasing the car, you are responsible for keeping it in perfect condition. You are liable for any damage to the car.
• Leasing does not cover maintenance.
• There are penalties for ending the lease early.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Auto Insurance
When you purchase insurance, you buy protection against loss associated with unexpected events. Different types of coverage are associated with auto insurance, but the one required by nearly every state is liability. There are two components of liability coverage:
• Bodily injury liability covers the costs of lawsuits if someone is injured or killed in an accident in which you are at fault.
• Property damage liability covers damage to other cars and property from negligent operation of your vehicle.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Auto Insurance (continued)
Collision coverage pays for damage or loss of your car if you’re in an accident.
• Comprehensive coverage protects your car from perils such as fire, theft, falling objects, acts of nature, and collision with an animal.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 3: Saving Money with a Used Car
Suppose that you are thinking about buying a car and have narrowed down your choices to two options:
• The new-car option: The new car costs $35,000 and can be financed with a four-year loan at 2.9%.
• The used-car option: A three-year-old model of the same car costs $24,000 and can be financed with a five-year loan at 3.6%.
What is the difference in monthly payments between financing the new car and financing the used car?
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example: (cont)
Determine the monthly payments for the new car that costs $35,000, financed with a five-year loan at 2.9%.
The monthly payments for the new car are approximately $627.
Example 3: Saving Money with a Used Car (continued)
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
Example 3: Saving Money with a Used Car (continued)
Alternately, determine the monthly payments for the used car that costs $24,000, financed with a five-year loan at 3.6%.
The monthly payments for the used car are approximately $438. The difference in monthly payments between the new-car loan, $627, and the used-car loan, $438, is $627 − $438, or $189.
Copyright © 2023, 2019, 2015 Pearson Education, Inc.
ALWAYS LEARNING
Slide ‹#›
The Money Pit of Car Ownership
Buying a car is a huge expense. To make matters worse, the car continues costing money af