MM$255$ Module $3$

Competency Assessment Written Assignment

GEL$-2\mathrm{.}03$: Solve real$-$world problems using mathematics.

PC$-2\mathrm{.}1$: Achieve goals through planning and prioritization.

Businesses need to purchase equipment, whether it is computers to run their online platforms or

backhoes to dig out the foundations on new houses. Business managers may choose to buy the

equipment now and take out a loan that would cost interest or put aside money today and earn

enough interest on the investment to be able to purchase the equipment in the

future.

You have set a goal for your business to purchase three pieces of equipment. Find three pieces

of equipment for sale online that will help your business work more efficiently or effectively.

Include the URLs. Prioritize the three pieces of equipment that you have chosen in the order

you think you need them and the urgency in which you need them.

You plan to save money to purchase the equipment. Select between $5-10$ years to save to

purchase each piece of equipment. In order to have the money saved for your first priority piece

of equipment sooner, choose the shortest number of years for the #$1$ piece of equipment and

the longest number of years for the #$3$ piece of equipment. Choose an interest rate between $2-$

$10\%$ for each piece of equipment.

Next, open a blank Excel spreadsheet and type in the purchase price of the equipment you

have chosen. Use Excel PV function to calculate what you would need to invest today to buy

equipment in the future.

Watch this video to see a demonstration of how to create the Excel spreadsheet. Include a screenshot of

the Excel spreadsheet in your assignment. Your name should be in cell A$1.$

In a summary paragraph, describe the equipment and how it will help your business. Include the number

of years and interest rate you have chosen as well as the results from the Excel spreadsheet.

Include these items in your post:

$3$ URLs

$$ Screenshot of Excel spreadsheet

$$ Summary paragraph: description of equipment, years and interest rate chosen, PV result