Essentials of Math 11 s1

Essentials of Math 12 Booklet #2 – Vehicle Finance

Instructor – Paula Nelson ACC Adult Collegiate Fall 2012

1 Table of Contents

1. Learning Outcomes……………………………….. Page 3 2. Terms to Know…………………………………… Pages 4-6 3. Lesson 1: Choosing, Operating & Maintaining a Vehicle.. Pages 7-11 4. Lesson 1: Practice Assignment……………………. Pages 12-13 5. Lesson 2: Buying a New Vehicle, Depreciation & Insurance.. Pages 14-17 6. Lesson 2: Practice Assignment……………………. Pages 18-20 7. Lesson 3: Buying Used, Taking out Personal & Leasing…. Pages 21-25 8. Lesson 3: Practice Assignment………………….. Pages 26-28 9. Hand In Assignment……………………………… Page 29 10. Review……………………………………………. Page 30-31 11. Test Overview……………………………………. Page 32 12. Answers………………………………………….. Page 33-35 13. Personal Loan Calculator Table…………………… Page 37

Assignments:

Lesson Topic Assignment Mark Value Number 1. Choosing, Operating and Lesson 1 Practice - Maintaining a Vehicle Assignment 2. Buying New, Depreciation and Lesson 2 Practice - Insurance **access to Assignment computer required 4. Buying Used, Loans and Lesson 3 Practice - Leasing Assignment Owning and Operating a HAND In 30 Vehicle CASE STUDY **access to a computer is required Review HAND in for 10 Completion Test 50 Formula 5 sheet

2 Learning Outcomes:

By the end of this unit is it expected that students will be able to:  Solve problems that involve the acquisition, operation and maintenance of a vehicle, when buying, leasing, and leasing to buy o Describe and explain various options for buying, leasing and leasing to buy a vehicle o Determine costs associated with buying, leasing or leasing to buy a new or used vehicle o Solve, with or without technology, problems that involve the purchase, lease or lease to purchase of a vehicle o Determine costs associated with operating a vehicle including maintenance, repairs, fuel consumption or depreciation o Determine the costs of insuring a vehicle o Justify a decision related to buying, leasing or leasing to buy a vehicle, based on factors such as personal finances, intended use, maintenance, warranties, mileage, insurance or safety considerations

3 TERMS to KNOW:

Operating costs: the operating costs of a vehicle include the costs of the fuel, regular maintenance, and repairs, as well as the registration and insurance costs.

Fuel Economy: a vehicle that has good fuel economy burns less fuel and therefore costs less to operate than other vehicles. Fuel economy in the metric system is expresses as the number of litres of fuel required to travel 100 kilometres. The formula for fuel economy is: fuel economy = litres of fuel used x 100 km driven

Warranty: an agreement by the vehicle dealership to pay costs for repairing a new vehicle if there is a mechanical fault within a specified time period. Common warranties are three-year warranties and five-year warranties.

Labour Cost: the amount paid for labour; it is normally found by multiplying the hours by the rate charged by the repair shop.

Shop Rate: this is the hourly rate charged by a garage to work on a vehicle. at-fault claims: when you make an insurance claim for an accident that you caused. basic coverage: the minimum insurance required by law. collision insurance: this optional insurance covers damages to your vehicle due to a collision. comprehensive (all-perils) insurance: this optional insurance coverage covers all damages and mishaps (other than collision) that can happen to your vehicle, for example, vandalism, theft, or water damage premium: the amount you pay for insurance rate class: an insurance category that depends on the area where you live; your rate class affects the cost of your insurance. rate group: this is a category that depends on the type of vehicle you are insuring; the rate group affects your optional insurance premiums. third party liability: legal financial responsibility for damage to another person’s property, or for personal injury or death; third party insurance will pay for this up to the amount of coverage you choose.

Deductible: when you make a claim on your collision or comprehensive insurance you must pay the deductible amount yourself; the insurance company pays the balance of the costs.

4 safe driver discount: a discount you receive if you have a claim-free record over a given period of time. book value: a number of different books contain car prices; the black book lists vehicles made in the last 5 years, the red book lists older vehicles; the gold book lists exotic vehicles; the blue book lists older classic vehicles. The book value of a vehicle is the standard price given in these books for a particular vehicle. It may not be the same as the actual selling price. vanity plates: license plates that have personalized information rather than an assigned license number. base price: the cost of a vehicle with standard equipment documentation fee: what you have to pay the dealership for doing the paperwork involved in purchasing a vehicle. freight charges: the cost of transporting a vehicle form the manufacturer to the dealership. optional equipment: extras that you can add on to a vehicle. preferred equipment package: this is a set of optional equipment that can be bought as a “package” for a discounted price. sticker price: the full asking price of a vehicle suggested by the manufacturer, including the base price plus options plus freight plus air-conditioning tax if applicable; also called the manufacturer’s suggested retail price. trade-in allowance: the amount that the dealership will give you for your old vehicle.

Depreciation: a decrease in the value of something as it gets older. depreciation rate: the percent rate by which something loses its value. resale value: the value of something after it has depreciated.

Lien search: a search to see if there is a claim on a vehicle by another person to whom the owner owes money. diagnostic test: an inspection by a mechanic to evaluate a vehicle. down payment: an amount paid in cash which goes towards paying for the vehicle, the amount borrowed for a loan is equal to the cost of the car minus the down payment.

5 lease term: the time period of a lease in months; common terms are 2 years (24 months) and 3 years (36 months). lease payment: the monthly payment for the lease; a taxable amount. residual value: the predicted value of a vehicle at the end of a lease. residual value rate: the percent rate used to determine the residual value. security deposit: a refundable deposit used to pay for the repair of scratches or dents when you return the vehicle.

6 Lesson 1: Choosing, Operating and Maintaining a Vehicle

Introduction In Canada today, vehicles are a means of transportation for most people. Purchasing and operating a vehicle is expensive. We will look at how to choose a vehicle and the expenses of purchasing and operating a vehicle.

Choosing a Vehicle Buying a vehicle is a major purchase involving many decisions. Since a lot of money is spent on a vehicle, it is important to make an informed choice. Choosing the right vehicle demands some time and effort for research. Price, style, gas consumption, maintenance costs, reliability, safety, resale value and insurance rates should be considered to make an informed decision.

Example 1: If you wish to borrow money to purchase a car, financial planners generally advise that your total monthly debt repayments should be no more than 40% of your net income. If your monthly net income is $1,200.00, what is the maximum monthly debt repayment you can afford? Solution: 40% of $1,200 = 0.4 x $1,200 = $480.00 You can afford a maximum monthly debt repayment of $480.00

Maximum debt repayment = monthly net income x 0.40

Example 2: What is the minimum monthly net income that is needed if you wish to take a loan with monthly repayments of $600? Solution: 40% x N = $600, where N = net income 0.4N = $600

Divide both sides by 0.4 (whatever you do to one side of the equal sign, you have to do to the other) to find N.

N = $1,500

You should earn at least $1,500 net per month to be able to repay this loan.

GST and PST must be paid on a new or used vehicle purchased from a dealer. In Manitoba, a vehicle purchased privately requires payment only of PST. GST is 5% for all provinces and territories in Canada. Refer to the chart below to find the

7 PST/HST rates for the provinces and territories. HST is the harmonized sales tax and is a combination of the PST and the GST.

To calculate the tax on an item: Step 1 – convert % to decimals by dividing by 100 Step 2 – multiply the price of the item by the GST (expressed as a decimal) Step 3 – multiply the price of the item by the PST (expressed as a decimal) Step 4 – add the price of the item, the GST and the PST for the total price.

Example 3: A new SUV is purchased from a dealer in St. Boniface, MB for $45,000. What are the taxes on this purchase? What is the total amount paid?

Solution: The total taxes are: 5% GST + 7% PST = 12%

12% of $45,000 = 0.12 X 45,000 = $5,400

The taxes are $5,400. The total cost is: $45,000 + $5,400 = $50,400.

Operating a Vehicle: Fuel Economy Other than the price and tax of a vehicle, another thing to consider is how much it will cost to operate the vehicle – especially how much fuel it will require. Different vehicles require different amounts of fuel to drive the same distance. Fuel economy

8 is the number of litres of fuel required to drive 100 km. Fuel Economy is calculated by:

Fuel economy = litres of fuel used x 100 km driven or, rearranged, litres of fuel used = fuel economy x km driven 100

Note – the you may be asked to calculate the # of km driven by taking 2 readings of the odometer  just subtract the second reading from the first reading 

If you are asked to calculate the cost of fuel, simply taken the cost of fuel (expressed as a dollar amount i.e. 59₵/litre = $0.59/litre) and multiply it by the number of litres required.

Example 1: A car requires 52 litres of gas to fill the tank. If the cost of gasoline is 58.8 cents a litre, calculate the cost to fill the tank. Solution: 58.8₵ a litre = $0.588 a litre 52 litres cost: 52 X $0.588 = $30.576 or $30.58 (rounded to the nearest cent – money is always rounded to the nearest cent)

Example 2: Calculate the distance travelled in kilometres, given the following odometer readings: Initial reading: 012862.8 Final reading: 013639.7 Solution: 013639.7 – 012862.8 = 776.9 km travelled

Example 3: Which car has the best fuel economy? Car A: 8L/100km Car B: 6.8L/100km Car C: 11.5L/100km Solution: Car B has the best fuel economy because it only needs 6.8 litres of fuel to travel 100 kilometres. The lower the consumption, the better the fuel economy.

9 Example 4: A car with a full tank of gas travelled 388 km from Brandon to Regina before stopping at a gas station. If the car requires 41.2 litres of gas to fill the tank, find the fuel economy and the cost of fuel for the trip if the gas price is $1.099 per litre.

Solution: Fuel economy = litres of fuel used x 100 = 41.2 x 100 = 10.62 litres/100 km km driven 388

Cost of fuel = $1.099/l x 41.2 l = $45.28 (rounded to the nearest cent)

So it cost $45.28 to travel 388 km from Brandon to Regina.

Example 5: Gina travelled a total of 350 km in the city and 200 km on the highway during one week of driving. Her car has a fuel economy of 10.5L/100 km in the city and 7.4L/100 km on the highway. Gasoline costs 62.5 cents per litre. Calculate the number of litres of fuel she used, and the cost of the fuel. Solution: Use the following formula to calculate the number of litres of fuel required for driving in the city, and for driving on the highway: Litres needed for city = 10.5 X 350 = 36.75 L 100 Litres needed for highway = 7.4 X 200 = 14.8 L 100 Total Litres needed = 36.75 + 14.8 = 51.55 L

Calculate the cost by multiplying the total litres needed by the cost per litre. 62.5 cents = $0.625 Total Cost = 51.55 X $0.625 = $32.22 (rounded to the nearest cent)

Maintaining a Vehicle Maintaining a vehicle is important – it keeps the vehicle running well and reliable and can also save you from more costly repairs in the future. The older a vehicle is, the more likely it is to need repairs – a new vehicle may be under warranty, so the dealership covers the cost for repairs. When a vehicle is serviced your bill will include the cost for any parts, cost for labour and taxes.

To calculate the cost of repairs on your vehicle: Step 1 multiply the shop rate (in hours) x the number of hours the repair required (labour costs) Step 2 Multiply the labour costs by the GST (5% or 0.05) – NOTE: GST only is charged on labour Step 3 Add up all the parts charges Step 4 Multiply the parts charges by the GST (0.05) and PST (MB is 7%) or just the HST (BC 12%)

10 Step 5 Add the parts charges and all taxes together Step 6 Add the total Labour Charge to the total Parts charge

Example 1: Jane took her vehicle to a car dealer in Manitoba for servicing. The oil and the oil filter were changed, and new wiper blades were installed. The costs for parts were as follows: 4 litres of oil $2.05 a litre 1 oil filter $5.60 2 wiper blades $14.75 a pair The time required to service Jane’s vehicle was 0.6 hours. The shop rate for labour was $59.00 an hour. How much is this service going to cost Jane? **No PST is charged on labour or services in Manitoba. Solution: Litres of Oil (4 x $2.05) $8.20 Oil filter $5.60 Wiper Blades $14.75 SUBTOTAL $28.55 5 % GST ($28.55 x 0.05) $1.43 7% PST ($28.55 x 0.07) $2.00 TOTAL PARTS $31.98 Labour ($59.00 x 0.6) $35.40 5% GST ONLY on Labour ($35.40 x 0.05) $1.77 TOTAL LABOUR $37.17 TOTAL COST (parts and labour) $31.98 + 37.17 = $69.15

Some garages offer special packages, such as an oil change for $19.95. Such packages may include oil, filter and labour costs. PST and GST are added to this charge.

11 Lesson 1 Assignment:

Please answer all of the following questions in your notebook. Do not attempt to answer them on this page.

1. List as many safety features of a vehicle as you can. 2. What is the maximum debt repayment that is recommended for the following monthly net incomes? a. $1250 b. $2050 c. $3250 3. What is the minimum income that is recommended for each of the following debts? a. $350 a month b. $520 a month c. $680 a month 4. A new motorcycle is bought from a BC dealer for $27,480. What are the taxes on this purchase? What is the total cost of the vehicle? 5. A used truck is bought privately in Manitoba for $25,500. What are the taxes on this purchase? What is the total paid? 6. A new car is bought from a dealer in Manitoba for $32,500. What are the taxes? What is the total paid? 7. Find the cost for each of the following: Litres Cost/Litre Total Cost a) 90 55.7₵ b) 18 46.2₵ c) 51.3 47.4₵ d) 87.4 45.2₵ e) 118 53.4₵

8. Determine the fuel economy for each of the following trips using the odometer readings given. Initial Final Distance Litres Used Fuel Economy a) 071416.0 071739.0 57.6 b) 023165.2 023721.9 54.8 c) 087158.1 088031.4 97.2 d) 015632.1 016341.8 37.2 e) 0135714.8 0136028.3 43.9

9. In the city, an SUV requires 29.8 L to travel a distance of 250 km. On the highway, it requires 31.8 L to travel a distance of 340 km. a. Determine the fuel economy of the SUV in the city. b. Determine the fuel economy of the SUV on the highway.

12 10. A van requires 46.1 L to drive 380 kilometres. a. Determine the fuel economy of the van. b. If the cost of gasoline was 58.6₵ per litre, find the cost of driving the van 380 kilometres.

11. Complete the following chart and calculate the total cost of repairs if the labour costs are $60 an hour. Remember to add the taxes that are applicable in Manitoba. Please recall that MB does not charge PST on labour. Item Number Unit Part GST PST Installation Labour GST PST Item Required Price s 5% 7% Time (h) Cost 5% 7% total Cost Oil 4 L $2.45/L 0.1 Fuel Filter 1 $21.00 0.3 Air Filter 1 $7.00 0.4 Antifreeze 8 L $1.98/L 0.1 Fan Belts 2 $29.00 0.2 TOTAL COST:______

12. Find the total cost of servicing a vehicle in British Columbia that requires two headlights at $28.50 each, an exhaust pipe at $130, and a muffler and tailpipe at $55.50. The time required for servicing the vehicle is 1.6 hours. The rate the service station charges for labour is $55 an hour. Remember BC has the HST which is charged on parts and labour services.

13. Find the total cost of servicing a vehicle in the Yukon that requires two litres of oil at $4.10 per litre, two wiper blades at $11.25 a pair and two fan belts at $35.50 each. The time required to service the vehicle is 0.8 hour. The rate the service station charges for labour is $70.00 an hour.

13 Lesson 2 - Buying a New Vehicle, Vehicle Depreciation & Insuring a Vehicle

Buying a New Vehicle -most new vehicles have a variety of optional equipment that can be selected o options are often grouped into packages and the packages are usually less expensive than buying the options separately o it is important to understand all the charges associated with a new vehicle . base price . options . freight charges . federal air tax (on air conditioning – if applicable) . dealership documentation fee . may subtract a trade-in allowance

o the sticker price is the vehicle price and the options o special discounts may be offered (recent graduate discount, military discount, customer appreciation…) or a lower price may be negotiated o you should check multiple dealerships before purchasing a vehicle

Total Price = base price + options + air tax + freight + documentation fees + …+ taxes

Example 1: Find the sticker price for the following 2 door Mustang. The base price is $25,880 and it has the following optional equipment. -preferred equipment package costing $1260 -four speed automatic transmission costing $995 -an AM/FM stereo with CD player costing $200 -an air tax of $100 and a freight charge of $620 will also be charged.

Solution: Base Price $25880 Options $2455 (1260 + 995 + 200) Air Tax $100 Freight $620___ TOTAL $29055

Example 2: Dez is going to buy a two-door Camaro Z29 Sport Coupe. The base price is $20798. He adds an options package that costs $1585, plus he wants an automatic transmission for an additional $1695. Freight on the car is $655. The dealership will give him a trade-in allowance of $5000 on his old car. There is a documentation fee of $150. Dez lives in Manitoba. What is the total price he will pay?

14 Solution: Base Price $20798 Options $1585 Auto Trans $1695 Freight $655 Doc Fee $150___ SUBTOTAL $24883 Trade In - $5000_ SUBTOTAL $19883 GST (x0.05) $994.15 PST (x0.07) $1391.81__ TOTAL = $22268.96

Depreciation -depreciation is a loss of value as a vehicle ages o a new car depreciates between 20-30% in the first year, 15% every year after that o SUV/Trucks/Minivans depreciate 20-30% in the first year and 10% each year after that o as a vehicle depreciates its resale value decreases

RESALE VALUE = value of the vehicle – (value of the vehicle x depreciation rate)

Example 1: A new car is sold for $35000. Calculate the cars resale value at the end of the first three years. The depreciation rate is 20% for the first year and 15% for each year after that.

Solution: Value x Depreciation Rate Resale Value First Year: 35000 x 0.20 = $7000  Value = 35000 – 7000 = $28000 Second Year: 28000 x 0.15 = $4200  Value = 28000 – 4200 = $23800 Third Year: 23800 x 0.15 = $3570  Value = 23800 – 3570 = $20230 after 3 years

Example 2: What is the total depreciation after the 3 years for the car in Example 1?

Solution: Total Depreciation = Initial Value – Final Value = $35000 - $20230 = $14770 The Vehicle depreciated $14770 after 3 years.

15 Example 3: Sam purchased a 4 year old used truck for $10500. What will Sam’s truck be worth after two years if the depreciates rate for this model of truck is 10% a year? What is the total depreciation after 2 years?

Solution: Value x Depreciation Rate Resale Value First Year: 10500 x 0.10 = $1050  Value = 10500 – 1050 = $9450 Second Year: 9450 x 0.10 = $945  Value = 9450 – 945 = $8505 after 2 years

Total Depreciation = Initial Value – Final Value = $10500 - $8505 = $1995 The Vehicle depreciated $1995 after 2 years.

Insuring and Registering a Vehicle When you purchase a vehicle, you are required by law to register it and to buy licence plates for it, as well as, insurance for it. o Insurance systems and regulations vary by Province o BC and MB have provincial insurance systems (ICBC and Autopac) o Other Provinces (AB, NB, ON, NT, YK and Nunavet….) have Private insurance companies o When you buy car insurance (just like life and house insurance) you pay a premium. The premium depends on how you use your vehicle (pleasure, to and from work, business use), where you live (celled a territory – city and rural rates are different) and your claim record (at fault claims—accidents, etc). o There is a minimum of $200,000 third party liability – which means that if you are responsible for vehicle damage or personal injury to another person, your insurance company will pay the expenses up to that amount – most people choose to have higher coverage (like 1 or 2 million). o you can also choose to insure your vehicle against collision or vandalism, theft, flooding – called COMPREHENSIVE or ALL-PERILS (risk) coverage. o most calculations are computerized now, but there are books that have printed tables to calculate premiums.

MANITOBA AUTOPAC INSURANCE:

All vehicles owned by people living in Manitoba must be insured through Autopac (Manitoba Public Insurance).

Insurance rates are determined by four factors. a) Vehicle Type b) Vehicle Use: Here are some basic types of uses: • Pleasure passenger vehicle • All-purpose passenger vehicle • Common carrier passenger vehicle (local) • Farm passenger vehicle

16 • Farm all-purpose passenger vehicle • Farming/fishing all-purpose truck • Pleasure truck • All-purpose truck • Motorhomes c) Where You Live Territory 1: Winnipeg (including St. Norbert, Headingley, East and West St. Paul) Territory 2: All areas south of the 53rd parallel, except for Territory 1 (includes Brandon, Portage la Prairie, and Dauphin) Territory 3: All areas north of the 55th parallel (includes Thompson, Lynn Lake, and Churchill) Territory 4: The area north of the 53rd parallel and south of the 55th parallel (includes Flin Flon, The Pas, and Grand Rapids)

d) Your Driving Record. The best Autopac rates in your group are for drivers who have maintained a safe driving record for a number of years.

17 Lesson #2 Assignment:

Please answer all questions on a separate sheet of paper or in your notebook. Do not attempt to answer them on this page.

1. Why do you think that it is important to have third party liability insurance?

2. Why do you think that it might cost more to insure your vehicle in the city than it does in a rural area?

3. Why do you think that it costs less for pleasure use than for commuting to and from work?

4. How do you think driving safely can affect your insurance premiums?

You will need to use the Autopac Quote Calculator for this assignment. Please use the 2012 rates. http://www.mpi.mb.ca/Irc/intro_2.asp?Lang=0

5. Andrew has a two-door 1991 Ford Probe GT with a book value of $15,650. He uses this car only for pleasure since he can walk to work. He has a 20% safe driving discount and would like basic coverage ($500 deductible) with $1,000,000 third party liability. He lives in Brandon (postal code R7B 4A2). What are his insurance costs (use 2012) rates if he pays the full payment all at once? What is the total cost of insurance, registrations and licence plates?

6. Ellen has a 1997 Suzuki Sidekick Sport with a book value of $4,875. She has no safe drivers discounts. She would like a $200 deductible collision insurance and $2,000,000 third party liability. She lives in Winnipeg (postal code R3G 0G1). What will her insurance costs be if she uses her vehicle to drive to and from work (all-purpose)? What is her total cost of insurance, registration and plates? What would her total cost be if she made 4 payments? What would her 4 payments be?

7. Samantha owns a four-door, six-cylinder 1999 Jeep Cherokee Classic with a book value of $15,680. She lives in Brandon (postal code R7B 4A2). She has a 30% safe drivers discount and would like a $100 deductible, as well as, $2,000,000 third party liability. She wants coverage for pleasure only. What will her insurance costs be if she makes the full payment? What is her total cost of insurance, registration and plates? What would her total cost be if she made 12 preauthorized payments? What would her payments be?

8. Find the sticker price for the following coupe. The base price is $14,765. Its optional equipment package consists of a preferred equipment package consisting of $1730, a three –speed automatic transmission costing $765, an AM/FM stereo with CD player costing $350, a 15-inch steering wheel costing

18 $170, power mirrors costing $150 and a tachometer costing $40. In addition, there is an air tax of $100 and a freight charge of $760.

9. Calculate the purchase price of each of the following vehicles if you live in British Columbia. Vehicle Base Options Sticker Documentation Cost of Trade- HST Total Price Price & Price Vehicle In Freight 1 $19400 $2230 $150 $5700 2 $27960 $2760 $185 $9000 3 $15275 $975 $125 $7200 4 $22740 $1525 $155 $10000

10. Sheila lives in Manitoba. She buys a light duty Nissan truck with a base price of $17218. She gets an option package worth $2490 plus an optional stereo system for $665. There is a freight charge of $830 and a federal tax of $100 on the air-conditioning unit. How much will she pay for this car including taxes?

11. Andy, who lives in BC, decides to buy a Mustang two-door convertible. He pays the base price of $24673 and takes an option package worth $2614. He adds on the automatic transmission for an extra $695. There is a freight charge of $795 and the options package he selects has air conditioning. Andy receives a trade-in allowance of $4500 for his old car. How much will he pay for his car?

12. Determine the resale value of the following new vehicles for the years and depreciation rates given.

a. $17,000 Vibe at the end of three years (first year 20%, 15% a year thereafter). b. $16,408 Cavalier at the end of two years (first year 25%, 15% a year thereafter). c. $26,433 S10 4WD Extended Cab at the end of five years (first year 20%, 10% a year thereafter). d. $38,699 Windstar at the end of four years (first year 30%, 10% a year thereafter).

13. Determine the total depreciation for each of the vehicles in questions 12.

14. Determine the resale value of the following used vehicles for the years and depreciation rates given. a. $6000 Nissan light truck three years after purchase (10% depreciation each year)

19 b. $3500 Chevy Impala two years after purchase (15% depreciation each year) c. $9800 Subaru station wagon four years after purchase (10% depreciation each year) d. $15,500 Mazda Miata three years after purchase (15% depreciation each year).

20 Lesson 3: Buying a Used Vehicle, Leasing a Vehicle, and Taking a Personal Loan for a Vehicle

Buying a Used Vehicle  purchasing a used vehicle rather than a new vehicle  purchasing a used vehicle is an option for many consumers as it is usually less expensive  there are two ways you can purchase a used vehicle: - from a licensed dealership - privately  the total cost of a vehicle is calculated differently at a licensed dealership and when it is purchased privately.  calculating the total cost of a vehicle purchased from a licensed dealership is straightforward, the dealer has the responsibility of doing a lien search and safety inspection on any used vehicles it sells total cost of a used vehicle = dealer’s price + PST + GST (purchased at a licensed dealership)

 when you purchase a used vehicle from a dealership it costs a bit more, but has the advantage that a qualified mechanic will have looked the vehicle over  if you purchase a used vehicle privately, make sure there are no liens against the vehicle (a lien is a claim on the vehicle by another person to whom the owner owes money to), make sure you have written contract, you will pay PST on the vehicle, and check for dents or damages, mileage, tire condition, whether the seat belts work, and test drive the vehicle (check for blue smoke which may indicate that the vehicle is burning oil)  If you are buying a car privately the following steps are suggested for calculating what it will cost you: Step 1: start with the cost of the vehicle Step 2: will a diagnostic test or repairs need to be done to the vehicle – add these costs + GST + PST to the total Step 3: add the PST to the book value of the vehicle (you must pay this when you license the car) Step 4: do you need to carry out a safety check on the vehicle? Add $40 + GST Step 5: do you need to do a lien search? Add $26 (includes tax) Step 6: find the total

Example 1: Les goes to a reputable dealer in Killarney, MB to buy his car. The sticker price for his car is $5,500. How much will his car cost him?

The dealer will have already checked to ensure there is no lien on the car and that it is in good working order. When purchasing from the dealer, you must pay both GST and PST.

21 PST: 5500 x 0.07 = $385 GST: 5500 x 0.05 = $275

Total Price = $5500 + 385 + 275 = $6161

Example 2: Gord lives in Victoria, BC. He wants to buy a used car from a private owner, who is asking $1995 for the car. Gord needs to do a lien search, which will cost him $26. Since he is not a mechanic, he decides to have a $30 diagnostic test done. The mechanic tells him that the car needs some engine work done which will cost him $650, including labour. When he gets the car licensed, he must pay HST on the book value of the car. The book value is $2500. He will also have to take the car for a safety inspection. This will be an additional $40 plus HST. How much will this car cost Gord?

Step 1: Cost of Vehicle $1995 Step 2: Diagnostics & Repairs $30 + $650 + HST = HST $680 x 0.12 = 81.60 Total $680 + 81.60 = $761.60 Step 3: HST on Book Value $2500 x 0.12 = $300 Step 4: Safety $40 x 0.12 = 4.80 + 40 = $44.80 Step 5: Lien Search $26 Step 6: Total COST $1995 + 761.60 + 300+ 44.80 + 26 =$3127.40

Taking Out a Loan to Purchase a New Vehicle  When you have chosen a vehicle that you wish to purchase and you know the total price, you must decide how to pay for it—cash, finance the vehicle with a bank loan, or through the dealership.  You may wish to make a down payment (often this is your trade-in vehicle) for part of the cost and then borrow the rest

Total Paid for Vehicle = # payments in total x monthly payment amount # of years x 12 months/year

Financing Charge = Total Paid – Price of Vehicle

Example 1: You wish to take a loan for $15500 to purchase a used truck. Your monthly payment is $364 for a four-year loan. Calculate the total paid for the vehicle and the financing charge.

Multiply 4 years by the number of months in a year to get the total number of payments 4 x 12 = 48 payments

Multiply the number of payments by the payment amount:

22 48 months x $364/month = $17472.00 is the total paid for the truck

Financing Charge = Amount Paid - Price of the truck = $17472.00 – 15500 = $1972.00 is the financing charge

Example 2: Moira makes a down payment of $5000 on a new mid-sized automobile she purchases for $20703.54. To finance the remaining amount, she takes out a three-year loan at a fixed interest rate of 8.25% annually. The monthly payment for a $1000 loan at 8.25% is $31.46. (a) Calculate the principal for the loan she requires (b) Calculate her monthly payment for the loan (c) Calculate the total paid for the loan (d) Calculate her finance charge for the loan (e) Calculate the total cost of the automobile, including her down payment.

Solution: (a) amount of the loan: $20703.54 – 5000 = 15703.54 (b) since the loan Moira requires is for $15703.54, the value of $31.46 must be multiplied by 15703.54 and then ÷ 1000.

Moira’s monthly payment is = 31.46 x 15703.54 ÷ 1000 = $494.03

(c) Since Moira is repaying the loan in three years and there are 12 months in a year, she makes a total of 12 x 3 = 36 payments

The total amount Moira pays for her loan at the end of three years is: $494.03 x 36 = $17785.08

(d) The financing charge is $17785.08 – 15703.54 = $2081.54 (e) The total she pays for the vehicle is the total paid for the loan plus her down payment = 17785.08 + 5000 = $22785.08

Leasing a New Vehicle  rather than purchasing a new vehicle outright or purchasing it through financing, you can lease the vehicle  when you lease a vehicle you pay a given monthly leasing fee for a specified number of months  at the end of the specified time period you can either purchase the vehicle or lease another one. o If you choose to purchase the vehicle, you purchase it at a price known as the guaranteed residual value or guaranteed future value. This value is given to you when you lease the vehicle.  Leasing a vehicle is a popular option as it has the advantages of little or no down payment and reduced (low) monthly payments.

23  With a leased vehicle, you always have a newer vehicle under warranty. You are also not required to do any selling or trading. It is great for businesses because there is a tax advantage because the monthly payments are a business expense that can be written off and lower income tax  the disadvantages to leasing a vehicle include the fact that you do not own a leased vehicle and always have monthly payments, you are charged for extra kilometres and excessive wear and tear on the vehicle—you also pay a penalty if you choose to end your lease early.

The decision to purchase a new vehicle outright, purchase it through financing or to lease it is a complex one. You have to consider many factors before reaching a decision:

-if you intend to trade in your vehicle every 2 or 3 years, leasing is an attractive option -if you intend to keep your vehicle for longer periods of time or if you drive more than 25,000 kilometres per year, you will likely find leasing to be the more expensive option

Example 1: The following describes a new SUV in Nanaimo, BC. The cost of the vehicle is $34000 plus taxes (freight is included in this price). The monthly lease payment is $349 plus taxes for a lease term of 36 months. For leasing, a down payment of $3850 is required. As well, a refundable security deposit of $500 and the first month’s payment must be made when the lease is signed. The residual value rate is 75% after 3 years. (a) Calculate the total monthly lease payment including taxes. (b) Calculate the total lease payment (c) Calculate the amount which must be paid at the start of the lease

Solution (a) total monthly payment: monthly payment + taxes taxes are: $349 x 12% HST = 41.88 Total monthly payment: $349 + $41.88 = $390.88

(b) Total lease payment: down payment + total payments Total payments: 36 x 390.88 = $14071.68 Total Lease payment = $14071.68 + 3850 = $17921.68

(c) The total to be paid at the start of the lease: down payment + security deposit + one month’s payment Total paid at start = $3850 + $500 + 390.88 = $4740.88

Example 2: For the vehicle in Example 1 the residual value rate is 75% after 3 years. Calculate the residual value of the vehicle after 3 years (including taxes)

Solution Residual value = cost of vehicle x residual value rate = 34000 x 0.75 =$25500

24 HST on the residual value is $25500 x 12% = $3060 Residual Value plus tax = $25500 + $3060 = $28560

Example 3: For the vehicle in Example 1 above, at the end of the three year lease you have the option of returning the vehicle or purchasing it for its residual value. Calculate the total price you would pay for the vehicle if you chose to purchase it after 3 years.

Solution: Total cost of purchasing the leased vehicle is: Total lease payment (incl taxes) + residual value (incl taxes) $17921.68 + 28560 = $46481.68

25 Lesson #3 Assignment:

Please complete the following questions in your notebook or on a separate sheet of paper. Do not attempt to answer them on this page.

1. What are the advantages and disadvantages of buying a used vehicle privately rather than through a dealer?

2. Charlene goes to a dealer in Winnipeg to buy a used car. The price for the car is $12,430. How much does she pay including taxes?

3. Calculated the total purchase price of a used truck listed at $7450 at a licensed automobile dealership in Port Moody, BC.

4. Harry has found a car in Churchill, MB that he likes and wants to buy through a private sale. The price of the car is $2495. Harry’s friend examines the car and recommends that Harry install a new battery for $129 and get a tune-up for a cost of $85. The safety check will cost $40 plus GST. The book value for this car is $2200. How much will this car cost Harry?

5. Linda buys a car to drive to Yukon College in Carcass, YT. The car itself costs $4500, a diagnostic test costs $35 (plus tax) and a $26 lien search is done. The safety check costs $40 plus GST. The book value for this car is $5000. If this car is bought privately, what is the total cost?

6. Scott wants to buy an older car in Dauphin, MB. The owner is asking $800. When he has finished repairing the car the following expenses are recorded before taxes: engine work, $700; electrical work, $150; stereo system, $450; tires, $420; interior, $900; exterior, $600; suspension, $150; exhaust, $140; and other repairs, $190. The safety check will cost $40 plus GST. The book value for this car is $1000. How much will Scott have paid in total for this car? He requires a lien search.

7. Michel wants buy a fairly new used car. He lives in Brandon, MB, and found one in the Auto Trader for $9595. A diagnostic check was done for $35 and a lien search for $26. A safety check was done for $40 plus GST. The book value of this car was $9600. What will Michel pay?

8. You wish take a loan for $8500 to purchase a used car. Your monthly payment is $379 for a two-year loan. Calculate the total paid and the finance charge.

9. Emily wishes to take a loan for $25,535.88 to purchase a new car. Her monthly payment is $800 for a three-year loan. Calculate the total paid and the finance charge.

26 10. Phil wishes to take a loan for $12,680.25 to purchase a used car. His monthly payment is $306.60 for a four-year loan. Calculate the total paid and the finance charge.

11. Inuujaq is able to make a down payment of $3000 on a new snowmobile she purchases for $14,500. In order to finance the remaining amount, she takes out a four-year vehicle loan from the dealership at a fixed interest rate of 4.0% annually.

a. Calculate the principal (amount borrowed) for the load she requires. b. Calculate her monthly payment for the loan. c. Calculate the total price paid for the loan. d. Calculate the financing charge for the loan. e. Calculate the total she pays for the snowmobile (including the down payment).

12. Sara is able to make a down payment of $6000 on a new automobile she purchased for $35,265.40. In order to finance the remaining amount, she takes out the dealership’s three-year car loan at a fixed interest rate of 3.75% annually. a. Calculate the principal for the loan she requires. b. Calculate her monthly payment for the loan. c. Calculate the total price paid for the loan. d. Calculate the financing charge for the loan. e. Calculate the total she pays for the automobile including the down payment.

13. A vehicle in Steinbach, MB has the following lease agreement: Down payment $3000 Lease payment $250 a month Lease Term 24 months Security deposit $500 a. Calculate the total monthly lease payments including taxes. b. Calculate the total lease payment. c. Calculate the amount that must be paid at the start of the lease.

14. A vehicle in Whitehorse has the following lease agreement: Down payment $2500 Lease payment $195 a month Lease Term 36 months Security deposit $500 a. Calculate the total monthly lease payments including taxes. b. Calculate the total lease payment. c. Calculate the amount that must be paid at the start of the lease.

15. A lease vehicle in Flin Flon, MB is prices at $35,500. The residual value rate is 70% after four years. What is the residual value including taxes?

27 16. A lease vehicle is priced at $28800 in Salmon Arm, BC. The residual value rate if 75% after two years. What is the residual value including taxes?

17. A government-lease vehicle in Wha Ti, NT has a residual value of $29,552.77 (including taxes) and total lease payments of $16,545.15 (taxes included). What will be the total cost of purchasing this leased vehicle after the lease term ends?

18. An SUV in Iqaluit sells for $34,200 and leases for $348 per month plus tax for a 48-month lease. A down payment of $3500 is required. The guaranteed residual value of the SUV at the end of the lease is $16,526. Determine the total lease payment and the total cost of the SUV if it is purchased at the end of the lease.

28 Hand In Assignment /30

Owning and Operating a Vehicle Case Study 1995 FORD BRONCO 180,000 km, good condition, little rust. $5,500 obo. Contact David Snowbird in Russell, MB: 204-555-5555 1. Landon wishes to purchase the vehicle in this ad privately. He manages to reduce the asking price by 5%. What will he be able to buy the car for before tax? How much must he pay for the car including tax? Note: when you buy a used vehicle privately in Manitoba you pay PST but not GST. (4 marks) 2. He must do a lien search for $26 (includes tax) and have a vehicle inspection done for $30. The inspection shows that he must have $350 worth of repairs done. This price includes shop time and parts. How much will it cost for the lien search, inspection and repairs if he has to pay taxes on the inspection and repairs? (4 marks) 3. How much will the vehicle cost including the lien search as well as the inspection and repairs? (2 marks) 4. Landon has saved $1,000, but he must borrow the balance from the bank at 6.5% annually, paid monthly. How much does he need to borrow? What will his monthly payment be if the loan is for 1 year? How much will he pay in total for the loan? (4 marks) Use the personal loan Calculator Handout 5. Landon lives in Russell, MB (postal code R0J 1W0) and wishes to insure his vehicle for pleasure only. He has a 10% safe driving discount. He wishes to extend his third party liability to $1,000,000 and to have a $200 comprehensive deductible. Using the MPI rate calculator, what will his total cost for insurance, plates and registration for the whole year (use 2012 rate and passenger vehicle category)? (3 marks) http://www.mpi.mb.ca/Irc/intro_2.asp?Lang=0 6. Landon’s car averages 8.5 L/100 km and he plans to drive the approximately 14,000 km in one year. What will his fuel costs for the year be? (use current fuel prices in our area) (4 marks) 7. He estimates that his regular maintenance and repairs will be $600 a year. What will his total costs for the year be, including his loan, insurance, fuel and maintenance and repairs? (3 marks) 8. His vehicle depreciates by 10% per year. What will it be worth after one year? (2 marks)

4 marks for neatness and presentation

Please hand this sheet in with your Case Study Question 1 /4 Question 6 /4 Question 2 /4 Question 7 /3 Question 3 /2 Question 8 /2 Question 4 /4 Presentation /4 Question 5 /3

29 Unit Review Please complete the following questions in your notebook or on a separate sheet of paper. Do not attempt to answer them on this page.

1. What minimum monthly income is recommended if you wish to take out a loan with payments of $580 a month?

2. A car with a full tank of gas travelled 600 km before stopping for gas. The car required 50 litres of gas and the cost of gas was 65.5 cents per litre. Find the fuel economy and the cost per 100 km.

3. A car with a fuel economy of 15 litres per 100 km in the city travels 80 km during a one-week period. The cost for gas is 54.8 cents per litre. Find the number of litres of gas used and the cost of the gas.

4. Toby took his car in for servicing in Pelican Narrows, MB. The oil and filter were changed, and the vehicle had a routine inspection. It was found that the brakes needed adjustment. Four litres of oil at $2.55 per litre were needed. The filter cost was $6.75. It took 1.75 hours for the routine inspection, brake adjustment and the oil and filter change. The shop rate for labour was $63 per hour. Calculate the total bill including the taxes that Toby had to pay.

5. An NHL hockey player in Vancouver, BC would like to buy a Porsche Boxster. The base price is $75,300. He wanted heated leather seats, a leather steering wheel, a four- speaker CD player and automatic air-conditioning and temperature control. These options cost a total of $5,500. There is an air-tax of $100, a freight charge of $750 and a documentation fee of $180. Calculate the sticker price, and the total price after taxes.

6. A new car worth $31,400 depreciates by 20% in its first year, and then by 15% a year after that. What is the value of the car after 4 years? What is the total depreciation after 4 years?

7. You have a choice of two cars in Naramata, BC. One is a private sale for $4465. A diagnostic check would need to be done for $35 (+ tax) and a lien search for $26. You will have to buy two new tires for $275. A safety check that costs $40 plus GST will need to be done. The book value of this car is $5000. Remember BC has HST that is charged instead of PST. The other car can be bought from a used car dealer on sale for $4900. Which is the better buy and by how much? Which car would you buy?

8. Catherine wishes to buy a car. She is considering the following 2 options:  A new Subaru Outback through a dealership for a total of $31,450. The dealership is offers financing at 3% annually over 3 years. There is a five-year warranty on this vehicle. She has a down payment of $3000.  A two-year-old used Subaru Outback for a total of $24,800. She has a down payment of $3000, but will have to borrow the rest from her bank at 5.5% annually for 3 years. There are three years left on the warranty of this vehicle.

30 Calculate the total paid for each option. State the advantages and disadvantages of each option. Which option would you choose, and why?

9. The monthly lease payment on a two-door sedan in Fort Simpson, NT is $203.79 a month plus taxes for a term of 60 months. A down payment of $2175 is required. The sale price is $25000 and the guaranteed residual value is 58%. a. Calculate the total lease payment over the term of the lease. b. Calculate the total cost if the sedan is purchased outright at the end of the lease.

31 TEST OVERVIEW

. /50 marks – o 12 marks Fuel Efficiency and Maintenance o 8 marks Insuring and Registering a New Vehicle (theory questions) o 12 marks on Buying a New Vehicle and Depreciation o 8 marks buying a Used Vehicle o 5 marks on Leasing a Vehicle o 5 marks on Taking a Loan for a Vehicle

. You may have a SINGLE-SIDED, 8.5 x 11 sheet of paper as a cheat sheet. It must be prepared before the test and handed in with the test. (5 marks) . You will be given all the personal loan calculator chart as well as

YOU MUST KNOW HOW TO: . Calculate the minimum net income required for debt repayments and the maximum debt repayments for a given net income (40%) . Calculate the fuel economy of a vehicle (you must know the formula for fuel economy) . Calculate the distance travelled when given an initial and final odometer reading . Calculate the parts and labour costs and the taxes on vehicle maintenance . Answer questions about what affects your vehicle insurance rate and why we have insurance (and third party liability), what 4 factors determine your Autopac premium (see handout with MB map on it)review your answers to Lesson 2 questions 1-4. . Calculate the price of a new vehicle . Calculate the depreciation of a vehicle . Calculate the total price of a used vehicle (purchased both privately and from a dealership) . Calculate the monthly lease payment, the total paid over the lease, the financing charges on the lease, the amount paid at the start of the lease, the residual value of the vehicle and the price if you leased and then purchased the vehicle . Be able to use the personal loan chart to calculate the monthly payments of a vehicle loan, the total cost and the financing charge

32 Answer Key for Assignments:

Lesson 1 1. answers will vary, but may include seatbelts, airbags, roll bars, bumpers, shatterproof glass, brakes…. 2. (a) $500 (b) $820 (c) $1300 3. (a) $875 (b) $1300 (c) $1700 4. Taxes are $3297.60 and the total cost is $30777.60 5. Taxes are $1785 and the total cost is $27285 6. Taxes are $3900 and the total cost is $36400 7. (a) $50.13 (b) $8.32 (c) $24.32 (d) $39.50 (e) $63.01 8. (a) 323 km, fuel economy 17.83 (b) 556.7 km, fuel economy 9.84 (c) 873.3 km, fuel economy 11.13 (d) 709.7 km, fuel economy 5.24 (e) 313.5 km, fuel economy 14.00 9. (a) 11.92 L/100 km (b) 9.35 L/100 km 10. (a) 12.13 L/100 km (b) $27.01 11. Item Number Unit Parts GST PST Installation Labour GST PST Item Required Price Cost 5% 7% Time (h) Cost 5% 7% total Oil 4 L $2.45/L 9.80 0.49 0.69 0.1 6 0.30 - 17.28 Fuel Filter 1 $21.00 21 1.05 1.47 0.3 18 0.90 - 42.42 Air Filter 1 $7.00 7 0.35 0.49 0.4 24 1.20 - 33.04 Antifreeze 8 L $1.98/L 15.84 0.79 1.11 0.1 6 0.30 - 24.04 Fan Belts 2 $29.00 58 2.90 4.06 0.2 12 0.60 - 77.56 TOTAL COST:______$ 194.34_ 12. Total cost = $370.16 13. Total cost = $153.77

Lesson 2 1. answers may vary; in case you get sued; to compensate others for damage or injury 2. answers may vary; there are more cars/drivers in the city, so there is more chance you will get in an accident 3. It costs less for pleasure vehicle use because you will drive less (typically) than if you are travelling to/from work everyday. Less driving = less chance of an accident. 4. If you are a safe driver, you make fewer claims. If you make fewer claims, you cost the insurance company less money, so therefore, you get a discount. 5. Insurance costs = $578/yr; total cost is $739 6. Insurance (all purpose) = $1296; total cost is $1457; total cost for 4 payments is $1483 and 1st payment would be $397 and next 3 are $362 7. Insurance costs = $883; total cost is $1044; if she made 12 equal payments her total is $1072 and her monthly payments are $89/mo. 8. Sticker price = $18830

33 9. Vehicle Sticker Cost of HST Total Price Vehicle Price 1 21630 21780 1929.60 18009.60 2 30720 30905 2628.60 24533.60 3 16250 16375 1101 10276.00 4 24265 24420 1730.40 16150.40 10. $23859.36 11. $27302.24 12. (a) Resale values are: 1st year = $13600, 2nd year = $11560, 3rd year = $9826 (b) Resale values are: 1st year = $12306, 2nd year = $10460.0 (c) Resale values are: 1st year = $21146.40, 2nd year = $19031.16, 3rd year = $17128.58, 4th year = $15415.72, 5th year = $13874.15 (d) Resale values are: 1st year = $27089.30, 2nd year = $24380.37, 3rd year = $21942.33. 4th year = $19748.10 13. (a) $7174 (b) $5947.90 (c) $12558.85 (d) $18950.90 14. (a) $4374 (b) $2528.75 (c) $6429.78 (d) $9518.94

Lesson 3 1. answers will vary; advantages may include: no GST, lower price; disadvantages may include: must do safety. Lien search on own, don’t have certified mechanic back up. 2. $13921.60 3. $8344 4. $2930.68 5. $4604.75 6. $5082 7. $10374.20 8. total paid = $9096; finance charge = $596 9. total paid = $28800; finance charge = $3264.12 10. total paid = $14716.80; finance charge = $2036.55 11. (a) $11500 (b) $260.59 (c) $12508.32 (d) $1008.32 (e) $15508.32 12. (a) $29265.40 (b) $860.70 (c) $30985.20 (d) $1719.80 (e) $36985.20 13. (a) $280 (b) $9720 (c) $3780 14. (a) $204.75 (b) $9871 (c) $3204.75 15. $27832 16. $24192 17. $46097.92 18. Total lease payment = $21039.20; total cost = $38391.50

Review 1. $1450 2. fuel economy = 8.3 L for 100 km; cost = $5.46/100 km 3. # litres = 12 L used; cost - $6.58 4. total bill = $134.74 5. sticker price = $81830; total price = $91649.60 6. after 4 years = $15426.82; total depreciation = $15973.18

34 7. Car 1 = $5480.20; car 2 = $5488; the prices are almost equal so I would probably go with the dealer and save yourself the hassle of the lien search, tires, etc. 8. option #1 = $32783.74; option #2 = $26732.35; the used vehicle is over $6000 cheaper, so it is probably a better option even though you may have to pay a little for maintenance and repairs when the warranty ends. 9. (a) $15013.80 (b) $30238.80

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36 Personal Loan Payment Calculator Monthly Payment per $1,000 Term in Years Interest Rate % 1 2 3 4 5 3.00 84.69 42.98 29.08 22.13 17.97 3.25 84.81 43.09 29.19 22.24 18.08 3.50 84.92 43.20 29.30 22.36 18.19 3.75 85.04 43.31 29.41 22.47 18.30 4.00 85.23 43.47 29.58 22.66 18.52 4.25 85.34 43.58 29.69 22.77 18.63 4.50 85.45 43.69 29.80 22.88 18.74 4.75 85.56 43.80 29.91 22.99 18.85 5.00 85.67 43.91 30.02 23.10 18.96 5.25 85.78 44.02 30.13 23.21 19.07 5.50 85.89 44.13 30.24 23.32 19.18 5.75 86.00 44.24 30.35 23.43 19.29 6.00 86.07 44.33 30.43 23.49 19.34 6.25 86.18 44.44 30.54 23.61 19.46 6.50 86.30 44.56 30.66 23.72 19.57 6.75 86.41 44.67 30.77 23.84 19.69 7.00 86.53 44.78 30.88 23.95 19.81 7.25 86.64 44.89 31.00 24.07 19.93 7.50 86.76 45.01 31.11 24.19 20.05 7.75 86.87 45.12 31.23 24.30 20.16 8.00 86.99 45.24 31.34 24.42 20.28 8.25 87.10 45.34 31.46 24.53 20.40 8.50 87.22 45.46 31.57 24.65 20.52 8.75 87.34 45.57 31.68 24.71 20.64 9.00 87.45 45.68 31.80 24.89 20.76 9.25 87.57 45.80 31.92 25.00 20.88 9.50 87.68 45.91 32.03 25.12 21.00 9.75 87.80 46.03 32.15 25.24 21.12 10.00 87.92 46.14 32.27 25.36 21.25 10.25 88.03 46.26 32.38 25.48 21.37 10.50 88.15 46.38 32.50 25.60 21.49 10.75 88.27 46.49 32.62 25.72 21.62 11.00 88.38 46.61 32.74 25.85 21.74 11.25 88.50 46.72 32.86 25.97 21.87 11.50 88.62 46.84 32.98 26.09 21.99 11.75 88.73 46.96 33.10 26.21 22.12 12.00 88.85 47.07 33.21 26.33 22.24