Project Content

Introduction

Let's pretend you have recently completed your educational goals and have secured a new job in a new location - Congratulations!

This project relates to the following course objectives:

• Judge the reasonableness of results using estimation, logical processes, and a proper understanding of quantity.
• Differentiate between simple and compound interest and analyze the long-term effects of saving, investing, and borrowing.
• Analyze civic and/or societal issues and critique decisions using relevant mathematics.

For this project, you will research options and analyze costs associated with one of two major needs - housing or transportation. You will explore the options available in the location you have chosen and perform calculations to help you make a decision that meets your needs and is financially sound.

Part One

Perform research to help you answer the questions below. You may use information you gathered in the Money Module Project to create your budget, or research new information. Ensure that your sources are current, since market conditions change over time. You should use reliable, credible and primary sources. Do not use Wikipedia since it is not a primary source

1. Where is your new job located? Where will you be living? Provide a name and specify if you are researching a rural community, small town, city (what size?), suburb, etc.
2. What is the average starting salary for your new job? Be sure to research salaries for the location of the new job, not national trends. Estimate your monthly take-home pay.
3. Which are you going to research - housing or transportation? Pick one.
4. List the options that would be available in your new location. If you picked housing, you might rent a house or apartment, purchase a home or condo, buy (or rent land) and put a mobile home or tiny house on it, etc. For transportation, you might finance a new or used car, buy a used car with cash, arrange a carpool, use public transportation, buy a bicycle, walk, etc.
5. What are the one-time and/or monthly costs associated with each of your options? Will there be maintenance costs? Insurance costs? Taxes?
6. How does each option fit into your projected monthly budget and desired lifestyle?

Part Two

Using all your research and calculations from Part One, write an essay (1-2 pages) to discuss your options, projected monthly budget, and the estimated costs associated with each option you are considering. What option would you ultimately choose? Make sure to include supporting evidence from your sources and mathematical calculations to defend your choice. Why is it best for you?

Note: only the essay in Part Two needs to be submitted for a grade.

Grading Criteria

This assignment will be used by the college to assess your Critical Thinking skills. The rubric used by the college to assess these skills is attached for your reference. Outcomes of this rubric will be summarized for all students in MAT 143 and will not affect your grade in this class or your standing at the college. However, please do your best to reflect well on the college.

Resources

All work must be done individually. Individual notes and online research are allowed and encouraged.

You may use the research and calculations from the Money Module Project to complete this project, if you choose.