Docstoc

Spending Money Power Point - 11 Maths A

Document Sample
Spending Money Power Point - 11 Maths A Powered By Docstoc
					    SPENDING
      MONEY
          11 MATHS A        STRAND: FINANCIAL MATHS


Name:________________ Parent Signature:___________________
 Skills Check
        Textbook pg. 2
        Complete questions 1 – 5 “Skills Check”
1.                                    2.                             3.




Problems with questions 1-4?
www.mathsonline.com.au -> Year 11 & 12 General -> Number Review -> Percentages -> Lesson 3
4.                                                 5.




Problems with question 5?
www.mathsonline.com.au -> Year 11 & 12 General -> Number Review -> Rates & Ratio -> Lesson 4,6,8
Lesson 1: Discount
   Textbook pg. 67 - 71
   www.mathsonline.com.au -> Year11&12 General -> Financial Maths -> Spending Money -> Discounts


                                                 original price
 A discount is an amount of money by which the _______________ of an item is
     reduced
  ___________.
                                                              percent discount
 It can be expressed as a percentage of the original price; __________________

    Discount = original price - sale price          Percent Discount =        discount .
                                                                           original price x 100
    Sale Price = original price - discount

 Example: A vacuum is discounted from $180 to $126. Find the percent discount.
      What do we know?

      original price = $180                           %Disc = (Disc/Orig.Price)x100
          sale price = $126
                                                              = 30%
      Need Discount

      discount = orig.price – sale price                Therefore, the vacuum has
                                                        been discounted by 30%.
               = 180 - 126
               = 54
   Lesson 1 Homework:      (Check your answers as you go!!!)
   Pg.69 #1ace, #2ac, #3
______________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
___________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
Finding the Sale Price
When the original price and the percentage discount are known, there are two methods
of finding the sale price.
Method 1:        1. Find the discount in dollars (Using the __________________).
                                                              percent discount
                                                      original price
                2. Subtract the discount from the ________________.           This tells us the % of
                                                                                              the original price
Method 2 : 1. Treat the original price as ______.
                                           100%
                2. The sale price is then represented by: _________________________ price
                                                          ((100% - percent discount)/100) x original

                                      discount
Use method 1 if the amount of the _____________ is needed/asked for.
Use method 2 if the actual amount of a discount is _____________, (it gives the sale
                                                     Not needed
price straight away).
Find the sale price on a $42 kettle after a 12.5% discount has been applied.
Method 1                       Convert to decimal            Method 2

 Discount = 12.5% of $42
                         Change to „x‟                    Sale Price =((100% - percent discount)/100) x original price
 Discount = 0.125 x $42
 Discount = $5.25                                         Sale Price = ((100%-12.5%)/100)($42)
Sale Price = Original Price - Discount                    Sale Price = (87.5%/100)($42)
Sale Price = $42 - $5.25                                  Sale Price = (.875)($42)
Sale Price = $36.75
                                                          Sale Price = $36.75
After a 20% discount, a kilogram of scotch fillet steak costs $16.00. Find the original price
and the amount of money saved per kilogram.
 What do we know?
                                     Sale Price = 100% - % Discount
 % Discount = 20%
                                     Sale Price = 100% - 20%
 Sale Price = $16.00                                                       SP is sale price; OP is original price
                                     Sale Price = 80%
 Original Price = ?
                                      This means Sale Price is 80% of       So:      SP = 0.8(OP)
 What else?                           the original price                            0.8 0.8
 Original Price = 100%                                                              OP = SP/0.8
                                                                                    OP = 16/0.8
                                                                                    OP = $20.00

   Lesson 1 Homework Cont’d:                       (check answers as you go)
        Pg. 70 #5ace, 8, 9, 11
____________________________________________________________________________
  __________________________________________________________________________
  __________________________________________________________________________
  __________________________________________________________________________
  __________________________________________________________________________
  __________________________________________________________________________
  __________________________________________________________________________
  __________________________________________________________________________
  __________________________________________________________________________
___________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
Lesson 2: Profit and Loss
   Textbook pg. 72 - 75
   www.mathsonline.com.au -> Year11&12 General -> Number Review -> Percentages-> All Lessons


                                                      difference                profit
     When an item is sold for more than it costs; the ___________ is said to be ________
                                                        cost (or cost price)
     We often express profit as a percentage of the __________________________
                                                 Percent Profit =         profit . x 100
    Profit = selling price - cost                                          cost
                                                      difference                 profit
     When an item is sold for less than it costs; the ___________ is said to be ________
                                                        cost (or cost price)
     We often express profit as a percentage of the __________________________

    Loss = cost - selling price                  Percent Loss =          loss .     x 100
                                                                         cost
 Example:            Find the percent profit on an item that was bought for $30 and later sold for $38.
       What do we know?                        Profit = selling price - cost
      cost = $30                               Profit = $38 - $30
      selling price = $38                      Profit = $8

      Profit or Loss?                           % Profit = (profit/cost)x100
                                                % Profit = (8/30)x100
      cost < selling price                                                 Therefore, a 26.67% profit
                                                % Profit = 26.67%          was made on the item
          Profit!!!
   Lesson 2 Homework:      (Check your answers as you go!!!)
   Pg.74-75 #1-2ace, #3
______________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
___________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
A shopkeeper buys jumpers from a wholesaler for $22 each and wants to make a profit of 20% per
jumper. What should be the selling price of a jumper to provide this profit?
What do we know?
                                    Profit = %Profit of Cost             Selling Price = Profit + Cost
Cost = $22                          Profit = 20% of $22                                 = $4.40 + $22
% Profit = 20%                      Profit = 0.2 x 22
                                                                                        = $26.40
Selling Price = ?                   Profit = $4.40
 Need Profit                                                                     Therefore, he must sell the
                                    This means to make a 20% profit,             jumpers for $26.40
                                    he must charge $4.40 more than
                                    he bought it for


A retailer sells a TV set for $732, making herself a profit of 22%. Find the wholesale price of the TV set.
What do we know?
                                                       Selling Price = 122% of cost
Selling Price = $732
                                                              $732 = 1.22 x cost
% Profit = 22%                                                 1.22      1.22
Cost = ?
                                                                 Cost = $732/1.22
What else?
                                                                 Cost = $600
Cost = 100%
Selling Price = Cost + Profit                               Therefore, she bought the
                                                            TV wholesale for $600
Selling Price = 100% + 22% = 122%
   Lesson 2 Homework Cont’d:       (Check your answers as you go!!!)
   Pg.75 #5, 7, 8
______________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
___________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   BEFORE LESSON 3:               (Check your answers as you go!!!)
   “Ten Quick Questions” Pg. 76 (Odd numbers)
______________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
 Lesson 3: Budgeting
   Textbook pg. 77 - 81
   www.mathsonline.com.au -> Year11&12 General -> Financial Maths-> Earning Money-> Budgeting

 A budget is a table containing an _____________ of _____________ and
                                       estimate          incomes
    expenditures                  expenses
  ______________ (or simply ______________)
 Expenses can be broken up into two categories;
                unavoidable       the same each time      rent, insurance, rego, etc.
   1. Fixed (____________ or ________________ like ____________________)
   2. Variable (not always the same; like petrol, food, entertainment, clothes, etc.
                                           ________________________________)
       These can be ___________. To save money look to _________ these.
                        controlled                             reduced
 Budgets can be can be prepared for different lengths of time
    weekly, monthly, yearly
  (________________________)
 However; incomes and expenses may not be in these time frames so ____________
                                                                       converting
  between different time durations is essential in preparing a budget.
                    Purpose      Convert From      Convert To        Operation
                 Weekly Budget   Monthly Cost     Weekly Cost     x12, then ÷ 52
                                 Yearly Cost      Weekly Cost         ÷ 52
                Monthly Budget   Weekly Cost      Monthly Cost    x52, then ÷ 12
                                 Yearly Cost      Monthly Cost        ÷ 12
                 Yearly Budget   Weekly Cost      Yearly Cost          x52
                                 Monthly Cost     Yearly Cost          x12
Use the table to resolve each of the following.
a) Calculate the total of the fixed expenses. Note that
    Karla views health insurance, house contents insurance
    and car insurance as important expenses, and their
    regular payments are fixed.
b) Calculate the total of the variable expenses.
c) Calculate the amount available for saving.
d) If Karla wishes to take a vacation and travel to
   New Zealand (estimated cost $3500), for how long
   does she have to save?
e) Suggest some possibilities for cutting expenses in
    order to save enough money for the New Zealand
    holiday one month sooner.
a) fixed: Rent:                               $520
          Home Insurance:                      $30
          Home Insurance:                      $10
          Car Registration:                    $27
          Car Insurance:                       $42
          Total:                              $629

                                                      d) Months Needed = Goal /Monthly Savings
b) TE -FE = FE + VE
                                                                             = $3500/$749
  VE = TE - FE
  VE = $1324 - $629                                                          = 4.67
  VE = $695                                                  So Carla would need to save for about 5 months


c) Savings = Income - Expenses                        e) Areas for savings: 1) Clothing
          = $2073 - $1324                                                   2) Entertainment
          = $749
   Lesson 3 Homework:             Check Your Answers!!!
        Pg. 80-81 #1, 3, 4, 7
______________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
___________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
Lesson 4: Cost of Services
   Textbook pg. 82 - 89
   www.mathsonline.com.au -> Year11&12 General -> Financial Maths -> Earning Money-> Budgeting

 An important part of being able to prepare a personal budget is to understand
                  organisations                         services
  how various _______________ charge for their ___________.
 These services include; ________________________________________________.
                          electricity, gas, water and council rates, telephone and internet
   Example: Use the bill on the next slide to answer the following questions:
  1c                                                         1b

                                                              1a

2a) No information given directly on the bill but
there is a link: www.greenhousegases.gov.au
2b)    Electricity   Gas Emissions       2c) 0.2 + 0.3 + 0.25 +
       639kWh          0.67T               1.55 + 0.75 + 0.67 =
÷639                 = 670kg
        1kWh                                 3.72
 x10                             ÷63.9
       10kWh          = 10.5kg                 Average = 3.72/6
                                                       = 0.62T
   Lesson 4 Homework:                 Check answers as you go.
        Pg.83 - 89 Odd numbered Questions
______________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
___________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
Lesson 5: Credit Cards & Debit Cards
   Textbook pg. 90 - 97
   www.mathsonline.com.au -> Year11&12 General -> Financial Maths -> Investing Money-> Lessons 1&4

 Credit cards are a source of an _______________ to the cardholder.
                                       instant loan
 There are normally two options when setting up a Visa or Mastercard:
                 annual fee                    interest-free
   (a) no _______________ and no ________________ period
   (b) an annual fee and a ____________ interest-free period.
                                   specific
        An interest-period is like a ______________ on interest; No interest is
                                            grace period
            charged. (Normally for _____________)
                                         55 Days
                                                  lower
        The interest charged is normally __________ on second option
 A minimum monthly payment is required (if there is a ________________). This is
                                                              closing balance
  normally either a _____________ or a percentage of the _______________
                       fixed amount                                closing balance
                    greater
  (Whichever is ___________)
 For all transactions made with a „no interest-free period‟ card the interest is
  calculated from the _________________________.
                           date of the first purchase
 For interest-free period credit cards, if the closing balance is paid in full by the due
                                      no interest is incurred
  date indicated on the statement, ___________________. Otherwise, interest is
  charged until the balance is repaid.
          The interest is usually charged on the outstanding balance from the day of the first
                                      back-dated               outstanding
           purchase (that is, it is ______________) until the _____________ balance is paid in
           full.
     A debit card allows you to spend money without carrying cash with you. Payments
     come directly from a ________________; that is, from money the user actually has.
                            savings account
For the examples and exercises in this chapter, minimum credit card account payments are calculated as follows.
Balance less than $25
If the closing balance of the statement is less than $25, then the minimum payment is the same as the closing balance.
Balance more than $25
Where the closing balance is greater than $25, the payment to be made is the greater of:
1. $25, or
2. 2% of the closing balance (rounded down to the nearest dollar).
This means that the payment is 2% of the closing balance if the balance exceeds $1250.
Note: If the closing balance is greater than the credit limit of the card, then the minimum payment must also include the excess
of the balance over the credit limit.
Find the minimum payment due for each of the following            For a „no interest-free period‟ credit card, calculate the
balances using the information supplied previously.               interest charged on the average outstanding daily balance of
a $23.40           b $1836.25      c $280.10                      $220 with the interest rate of 18.24% p.a. if the statement
d $1960 with the credit limit being $1900                         covers a 30-day period.

a) balance < $25                                                   **p.a means “per annum” or “annual interest”
  minimum payment = $23.40
                                                                    Daily Interest Rate = Annual Interest Rate
                                                                                               365
b) min = 2% of closing balance                                                          = 18.24/365
       = 0.02(1836.25)                                                                  = 0.04997%
       = $36.73 = $36
                                                                   Daily Interest = 0.04997% of $220
c) balance > $25; but, balance < $1250                                            = 0.0004997($220)
   minimum payment = $25                                                          = $0.10993
d) Excess = $1960 - $1900 = $60                                    Total Interest = Daily Interest x 30
   min = 2% of closing balance + excess                                           = $0.10993(30)
       = 0.02($1960) + $60
                                                                                    = $3.30
       = $99
For a „55 days interest free‟ credit card, calculate the amount of interest charged on an outstanding balance of $450
which was repaid 10 days after the due date, given that the first purchase was made on the first day of the 30-day
statement period and the annual percentage interest rate was 16.90%. (Assume that no other purchases were made after
the end of the statement.)                                          Daily Interest Rate = Annual Interest Rate/365
  How many days interest do we have to pay?                                                 = 16.9/365
 10 days overdue                                                                            = 0.046301%
  Since it is past due; we need to back-date!                           Interest = 0.0004997($220)(65)
 55 day interest-free period                                                      = $13.54
 55 + 10 = 65 days of interest
Kerry has a credit card with an interest-free period, and interest is then charged on the outstanding balance at a rate of
18% p.a. Kerry pays a $1200 bill for her council rates on her credit card.
a Kerry pays $600 off her credit card by the due date. What is the outstanding balance on the card?
b Calculate the interest Kerry must then pay for the second month.
c An alternative credit card charges 12% p.a. interest with no interest-free period. Calculate the interest that Kerry would
  have been charged on the first month.
 Examples: Expand and pays $600 the following expressions using FOIL
d Calculate the balance owing after Kerrysimplify the first month, and then calculate the interest for the second month.
e Which credit card would be the cheapest to use for this bill?
 a) Balance Owing =$1200 - $600                c) Monthly Interest = Yearly ÷ 12
                  = $600                                 = (12% of $1200)/12
                                                         = (.12 x $1200)/12
 b) Monthly Interest = Yearly ÷ 12
                                                         = $12.00
          = (18% of $600)/12
          = (.18 x $600)/12                     d) Balance =(Purchases + Interest – Payment)
          = $9.00                                            = $612
                                                                                   First card total interest paid is
                                                   Interest = (12% of $612)/12 $9. Second, $12+$6.12 =
                                                            = (.12 x $612)/12      $18.12. So, the first card is
                                                            = $6.12                better.
   Lesson 5 Homework:
        Pg. 95 – 97 #1ace, 2, 6, 8
______________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
___________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   BEFORE LESSON 6:                (Check your answers as you go!!!)
   “Ten Quick Questions” Pg. 98 (Even numbers)
______________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
Lesson 6: Exchange Rates
    Textbook pg. 99 - 100



 When travelling to another country Australian currency will no longer be
                         exchanged
  accepted. It must be _______________ to that country‟s currency.
 How much of the other country‟s currency you get for every Australian dollar
                    exchange rate                      daily
  depends on the _______________. This changes __________. If I have Canadian
      A sample exchange rate table is shown below:             Dollars and I want to
                                                                “sell” them to get
    Buying Canadian                                             Australian Dollars:
    Dollars on this date:
                                                              $1Cdn sells for:
    $1Aus buys:
                                                               1/Selling Price
     $0.9224Cdn
                                                                =1/0.8361
$10Aus = 10(0.9224)                                             = $1.1586Aus
       = $9.224Cdn
                                                            $10Cdn = 10/0.8361
                                                                  = $11.586Aus
   Lesson 6 Homework:                 Check Answers as You Go
        Pg. 100 #1-5
______________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
___________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   Chapter 3 Review:                   Check answers as you go!!!
        Pg. 102-104 #3,4,5,7,8,10,12
______________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
   ___________________________________________________________________________
___________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
___________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________
   ________________________________________________________________________________

				
DOCUMENT INFO