Calculating Interest and Completing Repair Orders
Overview Video
Author(s): Jenn Lexmond
Affiliation: Algonquin College
Level: Diploma / Advanced Diploma, 1st year
Learning Outcomes
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- Research and calculate labor and material costs for specific tasks.
- Manipulate percentage to find mark-up, discounts, and sales tax.
- Solve compound interest problems to compare borrowing rates and loan amounts.
- Design accurate work orders for typical automotive repairs.
Bonus: Digital literacy!
Summary
This assessment asks students to:
a) Build and price a car online. They then calculate the cost of borrowing with an annuity, compound, and simple interest. They decide which they feel is their best borrowing option and explain why.
b) Complete a repair order for a fictional job. They look up costs for parts and labor, subtotal their results, and apply tax.
This is used as the third of four homework assignments for 5% on the final mark. Two parts, each worth 50%. Scaffolding up to final question in each part with marks along the way.
Citation:
Lexmond, J. (2022). Calculating Interest and Completing Repair Orders. In Seneca College, Durham College, Algonquin College, University of Ottawa (Eds.), Rethinking Assessment Strategies for Online Learning – Exemplar Collection. Open Library. Retrieved [month] [day], [year], from https://ecampusontario.pressbooks.pub/rethinkingassessmentexemplarcollection/
