Thanksgiving Handout - in case you misplace it!

1. On a recent shopping trip you buy three items: a sweater at $59.99, a pair of jeans at $34.99 that were 20% off and a pair of shoes for $98.99.

a. If you buy the items in New York City tax is 8.375%, find the total cost of all three items including the New York City tax.

b. If you buy the items in New Jersey tax is 4.25%, find the total of all three items with New Jersey tax.

c. Find the percent saved if you buy the items in New Jersey vs. NYC. Explain & show how you come to this conclusion.



2. You’ve recently come into some extra money and you have decided to purchase a vehicle. After conducting some research, you must decide which car or truck you’d like to buy. You must use the newspaper or the Internet to help in your search.
a. Vehicle Selected_________________________________________

b. Price of Vehicle__________________________________________

c. Identify the resource you used_______________________________

d. While negotiating with dealer #1, he tells you that you have a fabulous credit report and are only required to put down $2500 on the cost of the vehicle and can finance the remainder for 5 years at 6.385%. Determine the total simple interest you’ll pay over the 5-year ‘loan’ as well as the total cost of the vehicle.

e. To compare, you go to dealer #2 who tells you in fact you only have ‘O.K’ credit and will need to put down $5000 and finance the remainder for 6 years at 5.835%. Determine the total simple interest you’ll pay over the 6-year loan as well as the total cost of the car/truck.
Show your work.

f. Compile a graphic organizer and express the above information.

g. Determine the best deal and write a paragraph about how you determined which dealer to buy and finance your car/truck from.
Best Deal_________________