Understanding Car Loans
Name: ___________________ Teacher:
Date : ___________________ Title of Work: ___________________
 
Criteria
Points
1
2
3
4
 
In a one page paper, student will explain how to determine amount of taxes added to purchase price of a car, as well as the amount of interest on a car loan on a car of their choosing.
Student understands extra money will be added to the price of a car, but is not sure how to determine the amount.
Student understands that taxes will be added to the price of a car and that interest is added to a car loan, but the student is not able to determine the amount of money that will be added to the price of the car of their choice.
Student is able to determine the correct amount of taxes added to the purchase price of a car, as well as the amount of interest on a car loan.
Student is able to determine the correct amount of taxes added to the purchase price of a car, as well as the amount of interest for a car loan that will be added to the price of the car.
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In a one page paper, student will explain how to figure out the number of monthly payments, as well as the amount of the monthly payments on a car loan.
Student understands that loans require monthly payments, but is not able to determine how many or how much they will be.
Student is able to determine the number of payments that a car loan may require, but is not able to figure how much the payments will be.
Student is able to determine the number of payments that a car loan may require and knows the process for determining how much the payments will be, but is not able to come up with the correct answer.
Student is able to determine the number of monthly payments, as well as the amount of the monthly payments on a car loan.
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In a one page paper, student's will identify and explain what all of the costs are on purchasing a car, including the difference in purchasing a car out right vs. taking out a car loan.
Student can identify one or two of the additional costs of purchasing a car, but is unable to explain what those costs involve. Student is unclear about the difference between purchasing a car out right and taking out a car loan.
Student can identify all of the costs involved in purchasing a car, but is unable to explain what those costs mean. Student is beginning to understand the difference in buying a car out right and taking out a car loan.
Student can identify and explain all of the costs involved in purchasing a car. Student is partially able to explain the difference in buying a car and taking out a car loan.
Student is able to identify and explain what all of the costs are on purchasing a car, including the difference in purchasing a car and taking out a car loan.
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Student will write a one page paper, with fewer than two grammar, punctuation, or spelling errors.
Student is able to write fewer than five sentences, with four or more spelling, grammar, or punctuation errors.
Student is able to write a half page paper, with five or fewer spelling, grammar, or punctuation errors.
Student is able to write a one page paper, with five or fewer spelling, punctuation, or grammar errors.
Student is able to write a one page paper, with fewer than two spelling, grammar, or punctuation errors.
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Total---->
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