7-4 BUYING A USED CAR OBJECTIVES: 1) TO FIND THE COST OF A USED CAR 2) TO FIND THE COST FOR A MECHANIC TO CHECK THE USED CAR AND REPAIR IT Warm Up Calculate: (0.06) + 3.5(80)

7-4 BUYING A USED CAR OBJECTIVES: 1) TO FIND THE COST OF A USED CAR 2) TO FIND THE COST FOR A MECHANIC TO CHECK THE USED CAR AND REPAIR IT Homework Answers

7-4 BUYING A USED CAR OBJECTIVES: 1) TO FIND THE COST OF A USED CAR 2) TO FIND THE COST FOR A MECHANIC TO CHECK THE USED CAR AND REPAIR IT Example 1 p 259 Total Repairs = (70) +.05( ) Total Repairs = Total Repairs = $566.13

7-4 BUYING A USED CAR OBJECTIVES: 1) TO FIND THE COST OF A USED CAR 2) TO FIND THE COST FOR A MECHANIC TO CHECK THE USED CAR AND REPAIR IT Example 2 p 259 Total Cost = 10, (55) +.05(10,499) Total Cost = 10, Total Cost = $11,778.95

7-4 BUYING A USED CAR OBJECTIVES: 1) TO FIND THE COST OF A USED CAR 2) TO FIND THE COST FOR A MECHANIC TO CHECK THE USED CAR AND REPAIR IT Example 3 p 259 According to Table 7.2 on p 255, a $20,000 mid-size car would have an accumulated depreciation of ( ) $9035. So, an average resale value would be $20,000 – 9035 = $10,965 So, the car in example 2 might be slightly underpriced on average

7-4 BUYING A USED CAR OBJECTIVES: 1) TO FIND THE COST OF A USED CAR 2) TO FIND THE COST FOR A MECHANIC TO CHECK THE USED CAR AND REPAIR IT Homework p #1-4, 9-14