Web Site: How To Videos
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Topic ideas: How to perform a difficult dance move; how to build a canoe; how to cook empanadas; how to play a card game
Sample: Do you wish you could design your own prom dress? Here’s how.
Goal: Does the video accomplish your goal?
Situation: Does it explain the process clearly? Will a viewer know how to complete the process after watching the video?
Cut parts that don’t belong.
Reorder steps that are out of place.
Redo weak parts to make them stronger.
Add materials and steps as needed.
Here is the script for a how-to video for calculating a monthly car payment. For more on loans and financial literacy, see pages 300–305.
How to Calculate a Monthly Car Payment
INT: CLASSROOM: The narrator stands in front of a whiteboard.
NARRATOR: If you’re like me, you are curious to know how much it would cost to own your dream car, or you may just want to find a car and a payment plan that fits your monthly budget. Online calculators can help, but I’m going to show you how to calculate a monthly car payment on your own. After all, it’s important to check your math, especially when money is involved.
CUT TO: WHITEBOARD: A definition of an amortized loan appears: A loan where the periodic payments include both principal and interest.
To do this, you’ll need a basic scientific calculator and a knowledge of fractions and order of operations. Because most of us can’t pay for a car up front, you’ll need to take out a car loan, with interest, and pay it off in monthly installments.
She writes two equations on the board and points to the variables:
M = P × [J ⁄(1 − (1 + J) −N)] and J = I/(12 x 100)
We’ll work with two equations and five variables: P, principal; I, annual interest rate; L, length of amortized loan; J, monthly interest rate in decimal form; and N, the length, in months, of the loan.
CUT TO: WHITEBOARD: The first equation now reads
M = 28,498 × [J ⁄(1 − (1 + J)−36] and the second equation is J = 7/1,200.
Say my dream car costs $28,498, which is variable P. To pay for it, I’ll use a 3-year, or 36-month, loan (N). In doing research, I learn my loan payment will come with a 7 percent monthly interest (J). I can solve my second equation to discover variable J.
CUT TO: CALCULATOR SCREEN: She shows how to enter and solve the second equation. The number 0.005833 appears.
Now that I discovered my J variable, I can solve my first equation.
CUT TO: WHITEBOARD: M = 28,498 × [0.005833/(1 −(1 + .005833)−36]
CUT TO: CALCULATOR SCREEN: She shows how to enter and solve the first equation. The number $879.94 appears.
So my monthly payment for the next 36 months is $879.94. Ouch, that’s pricey! In fact, if I multiply those numbers, I learn the car costs $31,677.68, meaning I’ll pay $3,179.68 above the sticker price due to interest. From now on, I’ll use these equations before financing a car. And so can you.
Web Site: How To Videos
Web Page: How To: Make a Great How-To Video
Web Page: Best Free Video Editing Software
Web Site: YouTube How-To and DIY
© 2014 Thoughtful Learning