Modes of Transport & Cost of Owning a Car

Activity Description

In this worksheet activity,

• Students will begin by analyzing a pie chart that shows the percentage of different modes of transport used by Americans.
• They will then choose a car from a given list of four options as their preferred vehicle. For the selected car, loan details will be provided based on a 20% down payment with the remaining amount financed over 5 years at an 8% interest rate.
• Students will then select the number of miles they travel daily for their commute, and based on this, they will see a breakdown of different expenses including monthly loan payments, insurance payments, maintenance charges, and fuel costs.
• Finally, they will answer a series of questions related to their choices and calculations. This activity helps students understand the financial implications of owning and maintaining a car.

Learning Objective

The learning objective of this activity is for students to analyze the true costs of owning a car and understand the financial implications associated with car ownership, including expenses such as loan payments, insurance, fuel costs, and maintenance.

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