Model Problems Unit 1 Flashcards
1
Q
How do you find the average price of a car?
A
- Add all car amounts together.
Total ÷ Amount of cars = Average
2
Q
How do you find total money saved over a certain amount of months?
A
Savings per month x Months saved = Total
3
Q
How do you find the sales tax when buying a vehicle?
A
Car price x Percentage of sales tax = Sales tax
(Change percentage to a decimal)
4
Q
How do you find ownership tax?
A
Factory list price x Percentage = ownership tax
(Ownership tax rate can be found on P. 6)
5
Q
How do you find the cost of a car using an installment plan?
A
- Each monthly payment x Number of payments made = Total of monthly payments
- Total of monthly payments + Down payment = Installment plan
6
Q
How do you find the average annual depreciation?
A
- Original cost - present value = Total depreciation
- Total depreciation ÷ Car age = Ave. annual dep.
7
Q
How do you find the rate of depreciation?
A
Average annual depreciation ÷ Original cost = Rate
