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Name: ____Jade Banman__________________

Owning & Operating a Vehicle Worksheet

For this activity you will be investigating what it would cost you roughly each month to own and operate a vehicle of your choosing.

Task #1: Choose Your Vehicle

Describe the year, make, model and any special/notable features of the vehicle you plan on owning: Mazda Protege 2005

Find an image of your vehicle on the internet and insert it here:

Task #2: Buying Your Vehicle

Whether or not you already own your vehicle, you are going to calculate what it would cost someone to purchase and finance your chosen vehicle at a standard loan rate (6% over 5 years). You may choose to look it up on a dealerships website, a used cars website (ex. BC Used Cars or a local website
Find an image that shows the cost of your vehicle, screen capture it, and insert it here:

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(a) Record the cost of your chosen vehicle: 7,200

(b) Multiply the cost you found in (a) above by 1.12 (this will give you the cost of your vehicle plus the HST you need to pay on ALL NEW and USED VEHICLE PURCHASES ): 8,064

(c) Multiply the cost from (b)above by 1.06 (this will roughly give you the total cost + interest for financing): 8547.84

(d) Divide the total you calculated in (c) above by 60 months to figure out how much it would cost you to purchase this vehicle by financing it over 5 years at 6% interest: 142.464

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To purchase and finance my vehicle it would cost me: $__142.464______/month

Task #2: Gas Costs

Next, lets take a look at what it will roughly cost you each month for gas.
PART 1) First lets roughly calculate the number of kilometres you would drive in a month... (a) How many kilometres do you roughly live from the school? 5.0 Km

(b) Multiply the # of kms in (a) by 40 (since you technically go to and from school 5 times a week, 4 weeks a month): 200 (c) Extra Driving! Add how many additional kilometres you think you will travel in a month to the # of kms you calculated in (b) above. This will give you your TOTAL MONTHLY KMS DRIVEN: 1,000

PART 2) Next, choose the fuel economy of your vehicle by selecting the category your vehicle falls best into below:

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(a) Multiple the MONTHLY KMS you calculated in PART #1 by the fuel economy you selected above. This will give you the number of LITRES you would use driving in ONE MONTH : 1,000x0.15= 150 (b) Multiply the number of LITRES you calculated in (a) above by $1.16/L (roughly the current gas prices in the Okanagan). This will give you a rough estimate of your MONTHLY GAS COSTS: 150x1.16= 174

My Gas would roughly cost me: Task #3: Insurance Costs

$__174______/month

Since ICBC only does quotes in person we will estimate the cost to insure your vehicle here.
As before, choose the category that your vehicle falls best into below to calculate you estimated monthly insurance costs:

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My Insurance would roughly cost me: $__180______/month My Total Monthly Costs (Purchase, Insurance, Gas): $__7282.464______/month