Consumer Mathematics 10

By Gail Huber

 2 0 0 0 S105.21 Teaching Materials from the Stewart Resources Centre

 To meet the need for instructional resources that complement new curricula, the Saskatchewan Teachers' Federation sponsored a professional development session and a unit writing workshop for teachers. The workshops were facilitated by the Saskatchewan Professional Development Unit and teachers were assisted in their efforts to polish their units by staff from SPDU and the Stewart Resources Centre.

Part 1

Part 2

Commission Assignment
Net Pay Assignment
Bibliography

Planning Guide and Record of Unit Study

 Subject and Grade Level: Duration of Unit: Number of Library Periods: Number of Classes: Mathematics 10 1 month 6 10 Topic: Consumer Math Subtopics: Pay Budgeting Foundational Objectives: To apply simple mathematics to assist in the calculation and estimation of income and expenses and to develop a budget to guide current and future planning. To communicate a summary of financial projections in appropriate reports, tables and graphs.

_________________________
Source: Mathematics 10, 20 : A Curriculum Guide for the Secondary Level. Regina : Saskatchewan Education, 1995, p.142.

Objectives

 Knowledge: Skills: Attitudes: To calculate weekly gross wages involving regular pay, overtime pay, and piecework earnings To calculate earnings for straight commission, or base wage plus commission To determine the difference between gross pay and net pay To calculate weekly, monthly, and yearly net pay To define and explain the purpose of a budget To determine and calculate monthly fixed expenditures To investigate the guidelines in developing a budget To plan a budget based on percentages allotted to various categories as suggested by financial institutions To calculate the portion of total income spent on each category using percents To draw graphs (including circle graphs) of budget figures using appropriate software To calculate the actual amount of money to be spent on each category using predetermined percentages To adjust a budget to changes in expenses. To effectively research to meet the needs in mathematics To develop a positive attitude toward the use of money To work cooperatively in a group

Source: Mathematics 10, 20 : A Curriculum Guide for the Secondary Level. Regina : Saskatchewan Education, 1995, p.142.

 Content Assignments Assessment Introduction Group question sheet Checklist for completion Gross Pay Portfolio assignments Newspaper activities with collection of work in scrapbook Portfolio work Newspaper record book Net Pay Portfolio assignments Scrapbook Budget Plan Definition of Budget Jigsaw activity analyzing "Budgeting" booklet from Royal Bank Participation Presentations Budget Plan % of income in specific categories graph drawings budget adjustments Research assignment Worksheet for portfolio

Common Essential Learnings

Introductory Unit

Communication
Technological Literacy
Numeracy

Gross Pay

Numeracy
Critical and Creative Thinking
Independent Learning
Communication
Personal and Social Values and Skills

Net Pay

Numeracy
Critical and Creative Thinking

Budgets (Jigsawing)

Communication, Critical and Creative Thinking
Independent Learning, Personal and Social Values and Skills
Numeracy

Budget (Constructing)

Communication
Critical and Creative Thinking
Technological Literacy
Numeracy
Personal and Social Values and Skills
Independent Learning

Culminating Unit

Personal and Social Values and Skills
Communication
Numeracy
Critical and Creative Thinking

Instructional Strategies

Introductory Unit

Direct Instruction
Independent Study

Gross Pay

Interactive Instruction
Independent Study
Direct Instruction

Net Pay

Direct Instruction
Independent Study

Budgets (Jigsaw)

Interactive Instruction

Budgets (Constructing)

Experiential Learning
Independent Study
Indirect Instruction
Interactive Instruction

Culminating Lesson

Indirect Instruction
Interactive Instruction

Concept Map

Student Copy of Evaluation of Consumer Math Unit

Overall Evaluation of Unit

 Introductory Activity Group Question Sheet 5% Portfolio Assignments Completion of 10 Consumer Math Assignments 20% Jigsaw Activity on Budgeting 10% Scrapbook 5% Budget Report 60% _______ 100%

Teacher Strategies and Activities
Introductory Lesson / Motivational Set

When?

Where?     Classroom

What?

• Video "Savings" from Financial Fitness Collection (Credit Union)
• Booklets for each student regarding budgeting from Credit Union, Royal Bank, and Bank of Montreal.

Classroom Teacher Responsibility:

• Show video
• Conduct discussions regarding budgeting and saving
• Form groups for students to answer related questions re: budgeting and saving
• Compile question sheet

Teacher-Librarian Responsibility:

• Contact banking institutions for information on budgeting and saving

Resources Requires:

• Savings video from Credit Union

Savings
based on " Savings" video and booklet Credit Union

1. Is it very important to save? Complete questionnaire on page 4 of "Savings" pamphlet and rate whether savings have become a priority to you?
2. State the three points to follow when adopting a simple and effective savings strategy.
3. How do you mathematically calculate a reserve for emergencies?
4. Define the following:
• assets
• liabilities
• net worth
5. Differentiate between simple interest and compound interest.
6. Using the table on page 5 of "Savings" booklet, complete the following:

If you deposit \$1000.00 every year and annually calculate the interest:

 Interest Rate Time Amount Accumulated 7 % 9 % 11 % 12 % 15a 20a 25a 10a

Teacher Strategies and Activities
Lesson Plans - Gross Pay

 Content Area: Knowledge __ x __ Skills __ x __ Attitude __ x __

Objective:

• To calculate weekly gross wages involving regular pay, overtime pay and piecework earnings.
• To calculate earnings for straight commission or base wage plus commission.

Activity:

1. Informational worksheet based on Activities 40-48 of That's Life!
2. Investigations of jobs involving different wages and earnings in newspaper.
3. Lecture on actual calculations of earnings.

Media Research and/or Study Skills:

Number of Students: 23

Abilities, Interests and Special Needs of Students:

• Students with low reading levels

Location: Classroom

Resources:

• That's Life! - from the StarPhoenix
• A consumer activity and teaching package (Activities 40-48)
• Windows to Mathematics
• Chapter 12, Pages 570-586

Minimum Expectations:

• Completion of Scrapbook
• Worksheets attempted

Student Evaluation:

• Scrapbook
• Portfolio work

Classroom Teacher Responsibility:

• Introduce calculations and make worksheets

Teacher-Librarian Responsibility:

• Order learning package from the StarPhoenix and newspapers when needed.

Gross Pay Assignment

 That's Life! Activity 42 IF THE SHOE FITS... people choose careers for many different reasons. Scan the classified ad pages and clip out job positions that fit the following categories: Requires nothing beyond a high school diploma Requires some kind of special training Requires close integrated team-work on a day-to-day basis Lets you be, within limits, your own boss Share your clippings with classmates and explain which of the above ads is most suitable to you and why. Ask your classmates whether they agree or disagree with you.

That's Life!. The Star Phoenix Educational Services. Saskatoon. 1991.

Gross Pay Newspaper Assignment

Research the business and classified ads sections of the newspaper. Find a job where you would be paid:

1. A salary
2. An hourly wage
3. A straight commission
4. A salary plus commission
5. An hourly wage plus commission
6. By piece work

From the figures you have acquired on your ads, calculate the yearly, monthly and weekly gross wages available for each job.

If not enough information is provided from the advertisements, you are expected to choose a reasonable projection of values suitable for that job.

Teacher Strategies and Activities
Lesson Plans - Net Pay

 Content Area: Knowledge __ x __ Skills ____ Attitude ____

Objective:

• To determine the difference between net pay and gross pay.
• To calculate weekly, monthly, and yearly net pay.

Activity:

1. "Pay Day In Bruno Math Class"
• to be able to read a pay stub
1. Discussion of deductions
2. Lecture on calculation of net pay
3. Calculation of deductions from jobs of their choice

Number of Students: 23

Abilities, Interests and Special Needs of Students:

• Students with low reading and math ability

Location: Classroom

Resources:

• Windows to Math 10
• Mathematics 10 - Student Resource Book (Saskatoon Catholic Schools)
• Mathematics 10 - Supplementary Materials (Wood River Board of Education)

Minimum Expectations:

• Worksheets attempted
• Completion of scrapbook

Student Evaluation:

• Scrapbook and portfolio work

Classroom Teacher Responsibility:

• Prepare pay stub, lecture and explanation of deductions

Teacher-Librarian Responsibility:

• Provide newspapers for project

 Teacher Strategies and Activities Lesson Plan - Budgets

 Content Area: Knowledge __ x __ Skills ____ Attitude ____

Objective:

• To determine and explain the purposes of a budget.

Activity:

1. Using the booklet, "Budgeting" the students will jigsaw so as to understand information from booklet.

Media Research and/or Study Skills:

• listening
• presenting

Number of Students: 22

Abilities, Interests and Special Needs of Students:

• low reading level students and learning disabled

Location: Classroom

Resources:

• "Budgeting for a Better Lifetime" - Royal Bank of Canada, 1996

Minimum Expectations:

• Participation

Student Evaluation:

• Checklist noting participation, involvement and skills

Classroom Teacher Responsibility:

• Facilitate activity

Teacher-Librarian Responsibility:

• Order material from Royal Bank and make arrangements to have it available to the teacher

Jigsawing Assignment

1. There will be five cooperative groups where the material from the book will be divided. Members of the cooperative groups will be given a certain shape (circle, triangle, square, trapezoid) to form expert groups.
2. The expert groups will study and prepare the following:

1. On returning to cooperative group, experts will teach the rest of the members of their group what they learned.

The Student Jigsaw Budgeting Activity Assessment Rubric                     10%

Group and Collaborative Learning                                         (5 points)

4.25 - 5     Exceptional Achievement

• the student always interacted in the group
• the student enthusiastically participated in discussions
• the student reflects awareness of others' views and opinions

3.25 - 4     Superior Achievement

• the student almost always interacts in the group
• the student almost always participates in discussion
• the student almost always reflects awareness of others' views and opinions

2.25 - 3     Commendable Achievement

• the student sometimes interacts in the group
• the student sometimes participates in discussions
• the student sometimes reflects awareness of others' views and opinions

0 - 2     Rudimentary Achievement

• the student does not react in the group
• the student does not participate in discussions
• the student does not reflect awareness of others' views and opinions
1. Communication                                                                     (5 points)

3.5 - 5     Clear, Complete Communication: The student's explanation gives a clear coherent, unambiguous, and elegant explanation

• the student communicates his/her thinking effectively to the audience
• the student speaks clearly, without hesitation
• the student presents strong supporting arguments

1.5 - 3     Partial or Incomplete Communication: The student's explanation is unclear, inconsistent or not complete

• the student uses terminology incorrectly and inconsistently
• the student sometimes speaks clearly
• the student is not very logical in his/her arguments

0 - 1     Limited or Lack of Communication: The student's explanation is not understandable or not present

• the student does not use or misuses appropriate terminology
• the student does not speak clearly
• the student does not understand what he/she is saying

Teacher Strategies and Activities
Lesson Plans

 Content Area: Knowledge __ x __ Skills __ x __ Attitude __ x __

Objective:

• To plan a budget based on percentages allotted
• To draw graphs of budget figures
• To calculate actual amount of money to be spent
• To adjust a budget to meet individual needs

Activity:

1. The students will prepare a budget for themselves. They will receive a specific salary, choose a suitable job for that salary, calculate gross pay, deductions, and net pay for a month.

Media Research and/or Study Skills:

• Research different occupations and salaries associated with them.
• Use of Internet, use of tables to gather information

Number of Students: 22

Abilities, Interests and Special Needs of Students:

• Learning disabled students

Location:

• Resource Centre, Computer Room and Classroom

Resources:

• Internet, Mentors (Insurance Agents, Bill Payers, etc), StarPhoenix, Auto Trader

Minimum Expectations:

• Completion of assignment

Student Evaluation:

• Based on completion of Part 1 and 2 of assignment and evaluation procedure

Classroom Teacher Responsibility:

• Explain budget assignment

Teacher-Librarian Responsibility:

• Schedule library time and assist with Internet searches

Consumer Math Assignment

Part 1

1. Using Claris Works, create a one page word processing document that contains:
1. the categories of your current expenses,
2. the amount of money you spend in each category per month, and
3. the percent allocated to each category, and
1. A pie graph representing your personal expenses.
1. Using the amortization program you learned in Information Processing class, create a spread sheet illustrating the cost for a loan for your vehicle, and / or home. Enter principal, term of the loan and interest rate (in decimal form). You will show the monthly payments, overall interest and number of payments. Highlight the important data.

Part 2

1. Choose a Job
2. Once you are given your annual salary, choose a job that interests you and that will fit into your pay scale.

Annual salary: ______________________________

4. Based on this information decide on the percentage value you will spend in each of the following expense categories, as well as the maximum total amount you can spend in each category: (Note: You can allot more money to the savings category, only providing that your budgeting remains realistic.)

 Expenditure Percent for Category Maximum Housing and Utilities: Transportation: Food: Personal: Miscellaneous: Savings: __________________ __________________ __________________ __________________ __________________ __________________ __________________ __________________ __________________ __________________ __________________ __________________

You must budget these percentages within the guidelines set by the Credit Union (pg. 596) Of Windows to Math 10. Note that housing and utilities are combined; as well as personal, health and miscellaneous. So the combined total must not exceed those listed.

5. Calculating Expenses (SHOW ALL WORK)

Rent / Mortgage payments

• Calculate the monthly payment.

Electricity / Heating / Telephone

• Survey three people to find out their average monthly costs.
• Either average their costs or determine where your house's expenses would fit relative to theirs (i.e. size, condition)

Cable TV

• List the services included in your plan.

Insurance

• List the services included in your plan.

Car payments

• Include all documentation in your report.
• Calculate the monthly payment.

Gas

• Survey three people to find out their average monthly costs. Either average their costs or determine where your car's gas mileage and your amount of driving would fit relative to theirs.

Maintenance and Repairs / Tires

• Unless your car is under warranty, assume at least two oil changes and two tune-ups per year will be needed. You can list any other expenses you may need in a year.
• List the price of the repair and where the quote came from.
• Calculate the monthly cost.

• Show your calculations to determine your monthly cost for each expense.
• For insurance, list the name of your plan and the coverage.

Groceries

• Plan a meal for one week.
• Make a grocery list.
• Refer to the field trip for prices.
• Use this one week as an average to calculate the amount for one month.

The report will include:

• A cover page (with title, name, date, class)
• Part 1 (one page)
• Summary worksheet
• Pie graph of Part 2
• Calculations, documentation, price lists, menu plan

Evaluation:

 Correct calculations Neatness Organization Realistic budgeting Overall impact On task, behaviour during class time 50% 10% 10% 10% 10% 10% 100%

Income and Expenses

Job Title: ___________________________________________

Gross Income for One Month: __________________________

CPP: _________________________________________________

UI: __________________________________________________

Income Tax: __________________________________________

Net Income for One Month: ____________________________

 Home Expenses: Rent Mortgage payments Electricity Heating Maintenance & Repairs Telephone Cable TV Insurance Taxes Furniture Total ( ____%) __________ __________ __________ __________ __________ __________ __________ __________ __________ __________ \$_________ Personal Expenses: Life Insurance Clothing Medical/Dental costs Petty Cash Personal Services (e.g. hair styling) Gifts Total ( ____%) __________ __________ __________ __________ __________ __________ \$_________ Transportation: Car Payments Gas Maintenance & Repairs Tires Insurance Registration License Public Transportation Total (____%) __________ __________ __________ __________ __________ __________ __________ __________ \$_________ Leisure Time: Holidays Sports Movies, Theater, etc. Books, Magazines Total (____%) __________ __________ __________ __________ \$_________ Food: Groceries Restaurants Total (____%) __________ __________ \$_________ Savings: Emergency Savings (per installment) Substantial Savings (investments) Total (____%) __________ __________ \$_________ Total Monthly Expenses \$__________

Examples of Portfolio Assignments

You have been looking through the want ads for a new career. You've narrowed it down to the following four jobs. Due to your excellent interview skills you have been offered a position at all four companies. In trying to make your decision you've realized that money is the most important aspect in your life at the moment. If you were to base your decision solely on the job which was to pay the most money, which job would you choose? (Assume that you will be paid the lowest salary if more than one is indicated.)

Calculating Gross Weekly Wages

This is a hand-in assignment. Do the calculations on a separate piece of paper. Show your equations and calculations.

1. Salary
1. Sally's job pays her \$1,500.00 per month. What is her gross weekly wage?
2. Jim grosses \$27,000.00 a year. What is his gross weekly wage?
1. Hourly
(A regular work week is 40 hours. Overtime pay is time and one-half).
1. Sue drives a truck for \$8.75 an hour. If she worked 40 hours, what would be her gross earnings for one week?
2. Mark is a word processor operator. He makes \$11.50 and hour. Determine his earnings for a week if he worked 52 hours.
1. Piece Work
1. Gillian gets paid 17 cents a tree for tree planting up north. In one week she planted 2437 trees. What is her wage?
2. A seamstress is paid \$9.55 for every pair of pants made. How many pants would have to be made to receive \$525.00 a week?
1. Straight Commission
1. A real estate agent earns 2.4% on the sale of a house priced at \$89,950.00. What is her take home pay that day?
2. A salesperson sells \$5780.00 worth of merchandise in one day. From working on commission his gross pay for that day was \$179.18. What is his rate of commission?
1. Salary Plus Commission
1. Dave earns \$150.00 per week plus 38% commission. He sold \$4175.68 in the month of February. What is his gross monthly earning for February?
2. Mary earns \$28,000.00 a year. One week she grossed \$658.00. She had sold \$1673.19 worth of merchandise. What is her rate of commission?
1. Hourly Wage Plus Commission
1. Julie is a sales clerk at a bicycle shop. She is paid \$6.25 per hour plus she is given a commission of 8% of sales. In one week she worked 30 hours and her sales were \$2319.75. What is her gross weekly earnings for that week?
2. Sam is paid \$6.45 per hour plus 6% of sales. If he worked 37.5 hours in one week, what would his sales need to be for him to have a gross earning of \$400.00?

Calculate gross earnings for one week given the hours worked and the hourly rate. A regular work week is 40 hours.

Examples: (overtime pays double)

 1. Job: Truck Driver Hours Worked: 40 Hourly Rate: 9.75

 2. Job: Wordprocessing Operator Hours Worked: 35.5 Hourly Rate: 11.50

 3. Job: Landscape Labourer Hours Worked: 51 Hourly Rate: 10.00

(Examples: overtime pays time and one half)

 4. Job: Auto Mechanic Hours Worked: 60 Hourly Rate: 40.00

 5. Job: Plumber Hours Worked: 41 Hourly Rate: 37.50

 6. Job: Tutor Hours Worked: 17 Hourly Rate: 35.00

Source: Morgan, Roger and Walter Wood. Mathematics 10 - Supplementary Materials. Lafleche, SK: Wood River Board of Education, 1995.

Class Activity

Considerations when job hunting: wages, hours, type of work, location, distance from work, promotion, responsibility, job security, unemployment, experience.

Source: Morgan, Roger and Walter Wood. Mathematics 10 - Supplementary Materials. Lafleche, SK: Wood River Board of Education, 1995.

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