General Math Investigation Buying a Car - Management Assignment Help

Assignment Task:

Task:

Our friend has decided to buy a car between the price range of 514.000 - $16.000. His family insists on purchasing a quality car and are more than prepared to help purchase the car through a loan. Our friend has already saved $2500 and earns $330 a month to either save or use as repayments. There are four options on how our friend can purchase this car. 

Car price - $14.990 
Based on our friends' current situation. I believe option three is the best way to go. They are not in a current state where they are independent and require a vehicle to go to work, they still have two years of schooling left where they are dependent on tam l? and their earnings Therefore, I believe saving for the car (option 3) is the most suitable opti king into account r f riends current situation. 
Option 1 the lease. 

up a Financial Lease of $320 a month for 5 years. To purchase the car at the end of II need to pay a residual of 10% of the new car price. 
Our friend is leasing $320 a month for 5 years. with an end goal of purchasing the car at the end of the lease. Our friend wil 
 

Option 2- itIn out a family loan. Pay the $2.500 as a deposit and borrow the balance of the car's price at 69. per annum flat rate over 4 years making weekly repayments. $14990 (car price) - $2503 (initiaideposit) $12.490 (new car price) 512.490 (new car price) x 0.06 (annum flat rate) x4 (years) = $2997.6 $2997.6 (annum flat rate) + $12,490 (new car price) • $15.487 $15.487/4 (years) 3871.9/52 (weekly repayments) • 574.45 a week. 
4(years) x ($74.45(weekly repayment) x 52 (weeks) = 1 ar repayment) This option allows our friend to get a car immediately where is able to go to work on his own and school on his own. After 2 years, he is able to attend work or further study on his own and is s not dependent on Tamil  to attend work or schooling. This opt ion also opens the option where one is able to look for new) that could potentially pay higher amounts. However, though he may have a car. he will have to pay $74.45 every week as a repayment due to the loan. which leaves him with 532.2 to pay for petrol and other services he may wand al option will prove difficult to maintain. as he may suffer the consequences of not having enough money to purchase enough petrol for an entire month. By the end of the 4th year. you will have paid $15,485.60 as repayments as a result of the family loan. 
Option 3 g up to purchase the car. Invest the savings of $2500 in a "Bonus Saver account" returning ”Iller annum compounding monthly. Assume your friend deposits the 5330 each month into this account. 
$2.500 x 6% • $150 + $330 x 12 - $6610 (1seyelinte rest) 6.610x 6%+ 3960 - $10366.6 (2nd year interest) $10966.6 x 6% + 3960 = $14,926.6 (3rd 'velinterest) 514926.6 x 6% +53.960 = $19782.2 (at lyear interesU $19/82.20 (4t1 year interest) $14.990 (car price) = $4792.20 (money left over)---------_a„ 
 

This Management Assignment has been solved by our Management  Experts at My Uni Paper. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.