Car Loans

Car Loans
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File Type

Presentation (Powerpoint) File

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1 MB|17 pages
Product Description
This activity helps students better understand the actual cost of an automobile when they borrow money for a car loan. An understanding of basic algebra is required. Most of the slides walk students through the formula used to determine the final cost of a car loan. At the end there are additional costs and percentages they can use to determine the final cost of car loans with differing rates and time spans. Answers are included, though they are rounded and may differ slightly. I also recommend assigning the students to find ads for actual cars they might like to purchase, and plugging them into the same formula. The difficulty can also be increased by requiring that the students do all of the math, rather than showing them the shortcuts included in the slideshow.
Total Pages
17 pages
Answer Key
Teaching Duration
90 minutes
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