INFORMATION TECHNOLOGY (spreadsheets) test WED 10/9
Use the 7 steps of decision making below.
1. Write down the 7 steps of the decision making process. After each one explain the step as it would relate to you purchasing a new car.
For step #1 make sure you talk about both needs for your vehicle and wants for your vehicle.
For step #2 start at the MINNESOTA website and look at your salary - your resources are 1/3 of your yearly salary. Show calculations and write down the job you are using as the basis for your salary.
For #3 write at least 3 choices of vehicles.
For #4 there are many ways to evaluate a vehicle. One way is whether or not it keeps its value. Complete the chart below by going to Kelley Blue Book and selecting "Price New/Used". You will need a price from 2019 and also 2014 for all 3 vehicles you chose. 2019 is the option NEW and 2014 you will change the click option to USED. I suggest you choose "Price Without Added Options" to keep it easy. Choose "Buy from a Dealer" when looking at 2014 USED. You are looking for the "Fair Purchase Price". To get the % decrease you calculate (new -old)/new.
2019 $ 2014 $ % decrease
Combine #5 & #6 and write a couple sentences about why you are choosing your vehicle and/or why not the other vehicles.
For #7 Go to this LINK for a loan calculator. Use the 2019 Fair Purchase Price and assume a 4 year loan with no down payment, no rebate, no trade-in. Use 5% interest. Multiply the monthly payment X 48 (months in 4 years = total you pay). Subtract that from the Fair Purchase Price and see how much interest you pay the bank for using their money.
Badcock Home Furniture
Chris Myers AutoMall
E.S. Cosmetic Surgery
Emerald Coast Growers
Old Battles Place
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