1. Mental Math
1. 23 - 23 - 4 = -4
2. 1000 + 100 + 10 + 1 = 1 111
3. 382 x 11 = 4 202
4. 52 ÷ 4 = 13
5. 7% of $600.00 ? $42.00
6. Solve for x: 12
7. Fully reduce: 9/18 1/2
8. 700 cm = ? m 7
9. 10 % of $80.00 $8.00
10. 1 km = ? cm 100 000
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2. Owning and Operating a Vehicle
What's important to you?
Speed?
Color/Looks?
Cost?
Create a list of at least 5 qualities that determine
whether or not you purchase a particular car. Be able
to provide reasoning for your decisions.
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3. How much money do you need?
Financial planners suggest that your monthly car
payments are no more than 40% of your monthly net
income.
Example 1 If your monthly income is $1200.00
what is the maximum monthly debt repayment
you can afford?
Answer: 40% of $1200.00
Monthly Debt repayment = 40% of Monthly Income
=0.4 x $1200.00
=$480.00
You can afford to purchase a car with monthly payments of $480.00.
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4. Example 2 - What is the minimum monthly net income that
is needed if you wish to take a loan with monthly payments
of $600.00?
Monthly Debt Repayment = 40% x Monthly Net Income
Answer:
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5. Taxes
-In Manitoba the Provincial Sales Tax (PST) is 7%.
-Across Canada the Goods and Services Tax (GST) is 5%.
Note: Both of these Taxes need to be included when
purchasing a new or used vehicle from a DEALER.
Example: The taxes for a car that costs $45,000.00 is:
- 12% of $45,000.00
= .12 x $45,000.00
=
What would the total cost of the vehicle be?
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6. Province/Territory
Complete pg. 139 #1-10
Rate
British Columbia 7%(1)
Alberta no PST
Saskatchewan 5%(4)
Manitoba 7%
Ontario (5) 8%
Québec 7.5%(2)
Newfoundland and Labrador 13% HST(3)
Nova Scotia 13% HST(3)
New Brunswick 13% HST(3)
Prince Edward Island 10%**
Northwest Territories
no PST
Nunavut
no PST
Yukon
no PST
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