Simple Interest Formula
The simple interest Formula is given by formula I = p·r·t Where I = interest, p = principal, r = interest rate per year and t = time in years. Principal $21,525 $23,235 Depreciation Rate 18% 15% Interest Rate 3.5% 4.95%
1. Volkswagen 2. Honda 3.
Jetta Civic Hybrid
SHOW ALL WORK: Calculate the total interest amount for a 5-year payment plan for each car. Divide the total interest into 60 monthly payments. Jetta 1a. Interest: Civic Hybrid 2a. Interest:
1b. Interest per month:
2b. Interest per month:
3. Car price + Interest = ______________
4. Car price + interest = ____________
5. Monthly payment = ______________
6. Monthly payment = _____________
*Car of your choice: ____________________
* optional for HP credit
DEPRECIATION RATES CAR: ____________________ Depreciation rate to use in equation: 100% Change window settings to: Xmin = - 5 Xmax = 10 Xscl = 1 Ymin= -4,000 Ymax = 20,000 Yscl =2,000 Xres=1 = Depreciation Rate: ______________ Equation: y = a * b^x Copy table of data:
______________________
In 2008 the car is worth: _____________
In 2012 the car will be worth: __________
In 2017, the car will be worth: ___________________