Characteristic of Learning: Authentic

Level of Technology Infusion Into the Curriculum: Adoption

Lesson Title: Calculating A Monthly Car Payment

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### Classroom Configuration

One to one, using classroom computers or mobile laptops as rotating stations

Common Core State Standards: Mathematics

Mathematical Practices

1. Make sense of problems and persevere in solving them.
2. Reason abstractly and quantitatively
3. Use appropriate tools strategically

Statistics and Probability

Interpreting Categorical & Quantitative Data: Summarize, represent, and interpret data on a single count or measurement variable.

S.ID.2

Use statistics appropriate to the shape of data distribution to compare center (median, mean) and spread (inter-quartile range, standard deviation) of two or more different data sets

A.REI.1

Understand solving equations as a process of reasoning and explain the reasoning.

1. Explain each step in solving a simple equation as following from the equality of numbers asserted at the previous step, starting from the assumption that the original equation has a solution. Construct a viable argument to justify a solution method.

### Arizona Educational Technology Standards (2009)

• Strand 4: Critical Thinking, Problem Solving, Decision Making
• Concept 1:Investigation,
• PO 1 Plan and manage data sets from diverse sources, creating planning adjustments and course corrections from knowledge gained.
• Strand 5 Digital Citizenship
• Concept 1: Safety and Ethics,
• PO 3 Advocate and practice safe, legal and responsible use of digital tools as defined by school board polices and procedures

### Objectives

• The students will solve a real-world problem of calculating a monthly car payment by utilizing online tools.
• The students will calculate a monthly car payment by using a formula containing fractions, exponents, and order of operations from information acquired via online resources.

### Procedure

• Students will research a car from an Internet used car dealer. Example sites to use: usedcars.com, AutoTrader, carmax
• Once students find a car, they will use the formula below to calculate a monthly payment.
• Students will experiment with the interest rates 6%, 8%, and 10%
• Students will also experiment with a 3 and 4 year loan length
• Students will calculate payment assuming there is no down payment, so the student must finance the entire price of the car.
• Key for formula: p = principal, r = interest rate, m = monthly payments • example calculation for a 3 year (36 month loan) of \$14,000 at 6% interest would look like this: • The payment for this car would be \$ 425.91

• Students will use an online scientific calculator, if scientific calculators are not available

• Students will write down the setup for each loan configuration that they compute and explain how they arrived at their answers.
• Loan Configurations will be:
• 3 year loan at 6% interest
• 4 year loan at 6% interest
• 3 year loan at 7% interest
• 4 year loan at 7% interest
• 3 year loan at 8% interest
• 4 year loan at 8% interest
• Students will create a spreadsheet with the information via Google Tools or Zoho.
• The students will answer the following questions:
• Which car is the best deal? Defend your answer.
• Which car would you be most likely to purchase, why?

### Assessment

• Student work will be assessed by evaluating the calculations that students computed and their responses to the questions.

Extension: Have students do a comparison of cost between two cars they would most like to own. Record data in a spreadsheet program. They should include items to reflect total cost of ownership.