Algebra 2 Hot Wheels Project

By Jacob Kaplan

Salary and Payments

Salary: 40,000
Yearly/Monthly payments:
Housing: $4,000/ $1,166.67
Taxes: $10,000/ $833.33
Transportation:
Payment: $4,000/ $333.33
Other: $2,000/ $166.67
Savings: $2,000/ $166.67
Medical: $1,200/ $100
Miscellaneous: $1,000/ $83.33

3-year plan

PV= $11,332.78

4-year plan

PV = $14,836.19

5-year plan

PV = $18,210.85

My Car Choice

The car that I chose is a 2010 Acura TSX for $17,599
Big image

Monthly payments for 3, 4, and 5-year plans

Maximum monthly payment: $333.33
3-year plan:
R = $517.76 (Can't afford)

4-year plan:
R = $395.40 (Can't afford)

5-year plan:
R = $322.13 (Within Budget)

My Choice for a plan

I will choose the 5-year plan which costs $322.13 to fit my budget ($333.33). I will spend a total of $19,327.80