PROCESS
1)
Choose
a university or college that you wish to attend and ego to their website. At their homepage click on their index option
and then locate their tuition and fees and follow the links accordingly. Click here for
some resources you can use in finding tuition prices. Click here for
the task sheet you will use to fill out this information (note you will only
fill out items 1-3 for this portion).
2)
Use
the task sheet from step one (items 4 & 5) as you search the internet for
the car you would like to buy. Click here for some websites you can use to search for your
car.
3)
Use
the task sheet from step one (item 6) as you search the internet for the house
you would like to buy. Note that you
need to be realistic in your choices.
Click here from some websites you can use to
search for your house.
4)
Work
through this sample problem before moving to the
next portion. The purpose of this
worksheet is to have you understand what an amortization sheet is and how it is
calculated, and how it applies to loans in regards to interest rates, number of
payments, and amount of payment per period.
5)
Now
you need to find two loans for each of the following items you have selected
that will help you to purchase these items.
Explain the reasoning behind the amount you chose (i.e for school you
chose only $5000 because you will already have $5000 saved to pay for that
amount yourself, which between the two will cover the four years of
school). For each of the two loans you
need to have the interest rate and the three different time periods you’ll
calculate to pay it back (i.e. for school I have a 12% interest and 8.5%
interest rate loans and the three time periods I’ll use for both are 2 years,
10 years, and 15 years). Click here for the task sheet you will work through to
complete this part of the assignment.