Vocabulary 1 (Ch. 4.1 - 4.3)
Definition: To be responsible for the damages caused.
Liable
Definition: To increase in value over time.
Appreciate, or Appreciation
You back your car into a neighbor's garage door and completely destroy it.
What type of auto insurance will cover the cost of the repairs?
Liability Insurance (Property Damage)
You decide to purchase a brand new car that is valued at $25K and comes with a State sales tax at 6.5%. Registration fees are $125, the car title fee is $195, and the dealer fee is $800. How much will it cost in sales tax and fees to purchase the car, excluding the original price of the car?
Total Cost = $2,745
Sales Tax: $25,000 (x) 0.065 = $1,625
All 3 fees combined: $1,120
Add the two together to get the total price of sales tax AND fees.
A trip to Disney from Middleburg is approximately 150 miles. If you avoid the interstate and drive through the backroads, averaging 42 mph, how many hours will it take you to arrive at "The Happiest Place on Earth?" Round your answer to the nearest tenth.
Time = 3.6 Hours
150 miles ÷ 42 mph = 3.57 hours (Round up to 3.6)
Which of the following words is spelled incorrectly:
A) Bologna
B) Fuchsia
C) Jibberish
D) Pharaoh
C) Jibberish (is actually spelled with a 'G')
Definition: Failure to behave with the level of care that a reasonable person would have exercised under the same circumstances.
Negligent
Definition: This models Exponential Decay and shows what happens to a vehicle that is driven on a regular basis.
Exponential Depreciation
You're driving on Blanding Blvd. and approach a 4-way intersection. There's a red light and you come to a complete stop. The person behind you slams into the back of your vehicle and damages your bumper and taillights.
What type of auto insurance will cover the cost of the repairs?
Collision Insurance
Your friend purchased a new truck for $37,800. The car will experience straight line depreciation to $0 after 21 years. Determine how much value the truck loses every year:
Annual Depreciation = - $1,800
Use the slope formula: (y2 - y1) / (x2 - x1)
(37,800 - 0) / (0 - 21) = - $1,800
Your dad decides to buy a brand new SUV for $74,995. The SUV depreciates 7.9% every year. How much will the SUV be worth in 6 years if your dad decides he wants to sell it? Use the exponential depreciation formula to calculate the price of the SUV (Round to the nearest penny):
y = a (1−r)t
Exp. Depreciation = $45,770.97
y = 74,995 (1 - 0.079)6 = $45,770.967 (Round up)
According to multiple online sources, what is the #1 most sold candy in the world?
A) Starburst
B) Sour Patch
C) Skittles
D) Snickers
D) Snickers
Definition: Insurance that pays for injuries to a driver or passenger(s) caused by a driver who has no insurance, or not enough insurance.
Uninsured Motorist Protection (UMP)
Definition: A gauge on the dashboard of a car that indicates the distance the car has traveled since it was brand new.
Odometer
You drive through the parking lot and accidentally hit your friend with your vehicle, causing them to fracture their arm & wrist.
What type of auto insurance will cover the damages?
Liability Insurance (Bodily Injury)
A brand new Harley costs $22,500. It has been determined that the straight line depreciation equation for a Harley is y = -975x + 22,500. What will the value of the Harley be after 8 years of daily driving?
Value after 8 Years = $14,700
Use the linear equation for a straight line (y = mx + b) and plug-in 8 for 'x' to solve for 'y'
y = -975 (8) + 22,500 = -7,800 + 22,500 = $14,700
Calculate how long it will take for the car to depreciate using the following values:
Current Price: $2,500
Original, New Price: $19,875
% Rate of Depreciation: 9.2%
Round to the nearest tenth. Use the following Formula: t = log (y / A) ÷ log (1 - r)
Time = 21.5 years
t = log (2,500 / 19,875) ÷ log (1 - 0.092) = 21.48 (Round up to 21.5)
According to an online article from the summer of 2023, approximately how many photos / videos are uploaded to Instagram each day?
A) about 35 million
B) about 95 million
C) about 145 million
D) about 185 million
B) about 95 million [*Approx. 1,100 files per second]
Source: https://www.lightstalking.com/photo-statistics/#:~:text=According%20to%20a%20survey%20conducted,more%20active%20on%20social%20media.
Definition: Part of the repair or damage that a driver has to pay before the insurance company "kicks in" and pays the rest of it.
Deductible
Definition: System of measurement used in other countries outside the U.S., which includes meters, liters, and grams.
Metric System
You're driving and your 2 front tires suddenly burst open. You lose control of the vehicle and crash into the ditch. You incur a hairline fracture to your right ankle and need to visit the hospital.
What type of auto insurance will cover the damages?
Personal Injury Protection (PIP)
Coach Cannon travels to Miami to recruit a 5-star athlete to join Middleburg's Basketball Team. The county will pay him $0.65 for each mile he travels to and from Miami. His car's odometer reads 12,500 miles at the start of the trip and 13,325 by the time he returns home.
Calculate how much money the county will reimburse him for his trip to Miami and back.
Reimbursement = $536.25
Take the difference between the odometer readings (13,325 - 12,500) and multiply it by $0.65 per mile driven.
825 miles (x) $0.65 = $536.25
Coach Grybb is planning on taking a trip to the Dallas, Texas to watch his Lions take on the Cowboys. He decides to drive his car, which gets 24 miles per gallon on the highway. The trip from Middleburg to Dallas and back home is a total of 2,040 miles.
If gas prices are, on average, $3.10 per gallon, how much money is Coach Grybb expected to pay on fuel?
Fuel Cost = $263.50
Question #1: How much gas did Coach use? Divide the total trip (2,040 miles) by the miles per gallon (24 mpg) to calculate how much gas Coach Grybb consumes (2,040 / 24 = 85 gallons).
Question #2: How much money did he spend? Multiply 85 gallons of fuel by $3.10 per gallon of fuel, which equals $263.50
Depending on the vehicle you drive, most modern vehicles can go from 0 mph to 60 mph in about 4.0 - 5.0 seconds. There is a British car that is street legal, called the McMurtry Spéirling, that is specifically designed to go as fast around corners as possible. With a handful of powerful electric motors, it has an astounding 0 - 60 mph time of...
A) 2.5 sec
B) 1.9 sec
C) 1.4 sec
D) 0.9 sec
E) 0.6 sec
C) 1.4 sec
Source (fast forward to 23:03 - 23:40) - https://www.youtube.com/watch?v=TptzkkbC1vE
(or fast forward to 9:40) - https://www.youtube.com/watch?v=HPZxcfglU2Q
Definition: Type of insurance that covers the repair / replacement of a car that was damaged by a long list of incidents, including vandalism, fire, and flood. Pretty much anything besides running into another vehicle.
Comprehensive Insurance
Definition: The method used to model a constant decline in the value of something, such as a car that loses value, year after year, by the exact same amount of money.
Straight Line Depreciation
Your car is stolen from your driveway & it's not a prank from your friends.
What type of auto insurance will cover the cost of the repairs?
Comprehensive Insurance
An adult in their 20's is driving in the neighborhood and all of a sudden, a squirrel darts out. The adult swerves to avoid hitting the poor little squirrel, but crashes into a parked car in a driveway. Unfortunately, two teenagers were in the parked car and both were severely injured. To make matters worse: several Christmas decorations in the yard were also destroyed.
The adult's auto insurance policy has $20,000 Bodily Injury per person and $100,000 Bodily Injury per person max coverage. The adult also has $10,000 in Property Damage.
If Teenager #1 experienced $15,000 in medical injuries, Teenager #2 experienced $39,000 in medical injuries, and the Christmas decorations were worth $12,000, how much is the adult responsible for paying?
Amount Owed = $21,000
Teenager #1: $15,000 meets the $20,000 B.I. per person coverage. No charge to the adult.
Teenager #2: $39,000 goes over the $20,000 B.I. coverage. Insurance pays $20,000, the adult pays the remaining balance ($39,000 - $20,000 = $19,000).
Christmas Decorations: $12,000 goes over the $10,000 Property Damage coverage. Insurance pays $10,000, the adult pays the remaining balance ($12,000 - $10,000 = $2,000)
$19,000 + $2,000 = $21,000
Based on the following values, calculate the price of a vehicle when it was brand new:
Current Price: $8,280
Age: 6.2 years
% Rate of Depreciation: 6.3%
Use the following Formula: y = a (1 - r)t
New Price = $12,394.95
Divide the Current Price by a(1 - r)t, which would look like: $8,280 ÷ (1 - 0.63)6.2 = $12,39.95
*When setting up the equation, $8,280 DOES NOT go where 'a' is in the formula. Instead, $8,280 goes where 'y' is. You must solve for the new price, 'a'
Typing speed is measured in words per minute (WPM) or characters per minute (CPM). The average person can type 40 wpm and 200 cpm with their hands. But what about using your nose to type on a keyboard? Vinod Chaudhary from India set the Guinness World Record by typing how many CPM with his nose in a 46 second timeframe?
A) 78
B) 103
C) 162
D) 295
B) 103 CPM
Source: https://www.youtube.com/watch?v=lfQ2dVpfPgE (Fast Forward to 1:00)