MM255 Business Math and Statistical Measures
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MM255 Business Math and Statistical Measures
MM255 Business Math and Statistical Measures
Key – Unit 4: Instructor Graded Assignment – Version 3.1
Interest and Loan Calculations
Unit 4 focus on interest and loan concepts, which is covered in your reading of Chapter 12: “Consumer Credit.”
For this Assignment you will write an essay to address the requirements described below. Your essay must be carefully planned and written using well-constructed sentences and paragraphs. Make sure that your grammar and spelling are correct. Points will be awarded for content as well as composition. Your essay must be a minimum of 1 page in length with standard 1 inch margins and is required to have at least one reference from a reliable source. This means that you cannot use sites like Wikipedia, Ask.com®, and Yahoo® answers and that only references from reliable sources will earn points. All resources should be cited both as an in-text citation as well as being listed on a reference page in APA format.
Assignments must be submitted as a Microsoft® Word® document and uploaded to the Dropbox for Unit 4. Include your essay directly in this document following the instructions.
All Assignments are due by Tuesday at 11:59 p.m. ET of the assigned unit.
Essay Assignment (40 points)
MM255 Business Math and Statistical Measures
Your Assignment is to write an essay discussing the financing of a new car for your business.
The price of the used car is $18,700. Sales tax on this car is 7% of the price of the vehicle. You intend to finance the entire cost of the car and sales tax, less a down payment of $2,350. You intend to finance the car for 36 months and your car payment will be $516.95 per month.
Your essay should in include the following information
- Calculate and discuss the amount financed, the installment price of the new car, and the finance charges you will pay over the life of the loan.
- Compare and contrast the advantage of paying cash and financing the vehicle over a shorter period of time, as well as, the impact of finding lower interest rates.
- Research and discuss the advantages of having good credit versus poor credit when qualifying for a loan. Discuss the implications of your credit score on the interest rates you may qualify for.
Your essay should be complete and cover each point as outlined above. Be sure to include at least one text citation.
You may submit your Assignment to the Math Center for review. Tutors will not grade or correct the Assignment, but they will provide guidance for improvement. In addition, tutors will not help you find websites for the Assignment. Be sure to submit Assignments early enough to receive feedback and make corrections before the Assignment due date (24 hour turn-around times Monday-Thursday and 48 hour turn-around times on weekends are typical). Email Assignments to: kumc@kaplan.edu . Please put “MM255 Assignment Review” in the subject line of the message.
MM255 Business Math and Statistical Measures
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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