BUYING YOUR FIRST CAR

Debbie Keefe

Sally DiMuzio

 

Introduction | Task | Resources | Process | Evaluation | Conclusion

 

Introduction

So you want to buy a car. Can you afford it? There are some basic topics that must be investigated before making a profitable decision. After this search, you should be able to decide what kind of car you’ll be driving soon.  If you presently have a car, complete the project with a different car.

The Task

Does the make and model make a difference?

Which models, of your choice, are the best deals?

How much will insurance cost for someone your age?

What about financing? Is it better to make payments for three years, or five years?

Using the internet, you will investigate these questions to decide what you will be able to afford and present your findings in a report to the class.

Resources

http://www.CarFinance.com/fin/

http://www.excite.com/autos/finance

http://agent.allstate.com/makemodel/

http://ehow.com

http://ebay.com

http://google.com

Talk to your family insurance agent, and any other agents you know

Talk to several automobile dealers

Process

  1. Begin making a list of automobiles that you would like to research.
  2. Using the suggested internet sites, research automobile prices, financing, and insurance prices.
  3. Talk to your insurance agent about insurances prices and what types of cars would have the most reasonable rates. Discuss specifics as to how prices vary. For example, better grades mean lower rates.
  4. Go to an automobile dealer to discuss prices and financing for your selected makes and models, new vs. used, financing term lengths, and interest options.
  5. Decide what make, model, and year car is affordable, and which financing (2 lending institutions)  and insurance options(2) best meet your needs.
  6. Write up your results and prepare to present your findings to your classmates.

Evaluation

Evaluation will be based upon:

Use of computer lab time 25pts daily grade in labs

Reasonability of conclusion ( in rubric)

Written report ( 100 pts)

Conclusion

After this activity, you will have a better understanding of the components involved in purchasing an automobile. You will then be better able to make an informed decision in purchasing, financing, and insuring your first car.

COLLEGE EXPLORATION

by: Theresa Lachtrupp

Return to Econ WebQuest

Introduction

It is the fall of your senior year in high school. You have narrowed your choices of colleges and universities. Your parents have agreed to help you with finances. You have a particular college in mind. If accepted, how are you going to persuade your parents to allow your to attend this particular college and help with finances?

The Task

You are about to graduate from high school in the spring. You have narrowed your choices to three colleges with one being your first choice. Your are anxious to send applications and persuade your parents to agree to allow you to attend the school of your choice.

You plan to attend college full-time and work part-time. Your parents have agreed to provide you with financial assistance. Their decision will be based on the following criteria listed in order of financial importance: academic tuition, room and board, book and supply fees, commuting time and everyday expenses, and scholarships and financial aid.

Your assignment is to gather information on your three favorite colleges or universities and make a scrapbook. You will also fill out the chart shown below for each college on the given criteria. (ex. Write in the dollar amounts under each category listed on the chart for each college; academic tuition, room and board, book and supply fees, commuting time and everyday expense, and scholarships and financial aid.)

After completing the chart and scrapbook, you will rank your college choices from one-three with one being the most economical and three being the least economical. You will present your scrapbook and chart to the class. They will play the role of your parents while you try to persuade them to allow you to attend the college of your choice based on economics. Be prepared to defend your rankings.

The Process

1. The student will contact the colleges and universities being considered and gather admission folders, pamphlets, and brochures.

2. The student will use the web sites listed in resources along with gathered college and university information to find financial information on academic tuition, room and board, book and supply fees, commuting time and everyday expenses, and scholarships and financial aid.

3. The student will write down the money amounts in the appropriate category listed on the chart for comparison purposes.

4. The student will rank the schools in order of most economical for the student and parent.

5. The student will also compose a scrapbook of the the schools being considered for added interest and persuasion.

6. The student will present the scrapbook and chart to the class and defend their rankings. (5-10 mins)

Resources

1. The College Guide
http://www.mycollegeguide.org/

2. Current College Rankings from U.S. News & World Report
http://www.usnews.com/usnews/edu/college/corank.htm

3. Peterson's Education Center
http://www.petersons.com

4. Fin Aid: The Financial Aid Informational Page
http://www.finaid.org

Conclusion

This activity allows the student to be creative in the skills of persuasion, evaluating and comparing data from various sources, and consolidating information for quick reading, understanding, and decision making.

The teacher could ask students to predict parent's reactions to the interest, organization, and work involved by the student.

Evaluation

1. An individual grade will be given for organization of the scrapbook.

2. An individual grade will be given for completeness of the College Expenses chart and rankings.

3. An individual grade will be given on the presentation to the class and the student's ability to defend their rankings.

Smart Shoppers Guide

A WebQuest

 

By Steve Heck

Mariemont Junior High School

Introduction --- Task --- Process --- Resources --- Evaluation --- Conclusion

Introduction:

What would it be like to be your own boss and run a FIVE STAR Restaurant? Could you decide what to serve? What is the best buy for the foods you decide to serve? Do you know what to charge for the dinner? Can you make a profit at your new business? All these are tough questions to answer and you need mathematics to solve your problems. You are now the BOSS, so lets get started.

Task:

You will develop a five-course meal for your customers and stay within a budget of $15.00 per meal. You can expect about 20 visitors to sample your dinner. By the way, you must also operate your restaurant at a profit.

PROCESS:

1. First: Create a spreadsheet that describes a full five-course meal to include the following. Remember that you must stay on a budget for the meal.

    1. Appetizer
    2. Soup
    3. Salad
    4. Main course: Entrée, Vegetables (at least two), Drink

e. Dessert

SECOND: Do your shopping (enter your results on your spreadsheet). Your budget is $15.00. So, find out the cost for each item. This will serve as the cost evaluation for your meal.

THIRD: Set the price of the total meal and develop a menu. Remember that you need to make a profit, but don’t over price yourself. Customers want the best meal at the best price.

FORTH: Figure the cost for the evening if all 20 of your quest show up for your premier dinner presentation. Enter this on your spreadsheet as well as the total profit you expect to make.

 

RESOURCES: Internet Sources

    1. Dr. Math: http://mathforum.org/dr.math/dr-math.html
    2. Global Grocery List: http://landmark-project.com/ggl/
    3. Math: http://MathCentral.uregina.ca/
    4. Kroger: http://www.kroger.com/


Evaluation:

Your grade on this WebQuest is broken down into four main areas. Each part is equally divide into 25% of your grade. The four parts are as follows: Spreadsheet development, Menu, basic mathematical computation and following WebQuest directions.

Spreadsheet Development: (25% of total)

Knowledge of spreadsheet operations: 5%

Complete and accurate spreadsheet entries: 10%Cost analysis detailed on spreadsheet: 10%

Menu: (25% of total cost)

Creative presentation of Menu: 15%

Complete list of dinner items: 10%

Mathematical computations: (25% of total grade)

Comprehension of mathematical calculations: 15%

Remaining within set monetary limits: 5%

Knowledge of spreadsheet calculation functions: 5%

Directions: (25% of total)

Complete and accurate following of directions set forth in WebQuest directions: 15%

All required items submitted on time: 10%


CONCLUSION:

At the completion of this WebQuest, you will have an appreciation of what it takes to run a small business. You should have obtained general knowledge on how to develop a menu, use a spreadsheet to help determine and set costs, develop a cost analysis so as to stay under budget and make a profit. Finally, you can see how mathematics is used in every day life situations.

The following is a guide for your Menu. Remember to be creative and include everything important to your customers!

Name of your Restaurant