TASK

Your task is to go on-line and find out general information as to how much your schooling will be (i.e. the total cost of tuition at the university of your choice for four years). Then on-line pick a car you would likely try to buy within five years of leaving high school, and record the total cost of the vehicle. Last pick a house you see yourself buying within 10 years after you graduate from high school and record the total cost of the home. For all of these choices you need to record the website that you used to get the information.

Next you will search different banks and government options for getting a loan to pay for each of the above items. For each item you will find two different interest rates and determine how much it will cost to pay the loan back in three different time periods (i.e two years, ten years, fifteen years). You will then compare each year and determine how much interest you pay for each time period. After doing your calculations decide what loans you would choose for each item and the time period you will pay it back in. Be sure to give a detailed explanation as to why you choose that loan instead of the other. Click here for the detailed process that you will go through for this assignment.