Students are asked to play the role of a cab driver with two Kias, and he has to pay his mortgage in a week's time ($1800). The students have to calculate their daily earnings, their expenditure, and how they can pay back the mortgage. Students will understand to implement financial concepts and how difficult it is to live paycheck to paycheck. There are no savings and you cannot borrow money from anyone. Also, you don't have a credit card.

The person reading the following question is the cab driver and here we have to make proper management of household financial statements like how to go in daily life; Students are asked to play the role of a cab driver with two kids, and he has to pay his mortgage in a week's time ($1800). The students have to calculate their daily earnings, their expenditure, and how they can pay back the mortgage. Students will understand to implement financial concepts and how difficult it is to live paycheck to paycheck. There are no savings and you cannot borrow money from anyone. Also, you don't have a credit card.

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Calculate their daily earnings and expenditure in w... View the full answer