Part 2

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

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

When?

Where?     Classroom

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

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

• Contact banking institutions for information on budgeting and saving

• Savings video from 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

 

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

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.

• Using a newspaper, the table of contents, newspaper sections and especially the classified ads.

Number of Students: 23

• Students with low reading levels

Location: Classroom

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

• Completion of Scrapbook
• Worksheets attempted

• Scrapbook
• Portfolio work

• Introduce calculations and make worksheets

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

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.

Objective:

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

1. "Pay Day In Bruno Math Class"

• to be able to read a pay stub

2. Discussion of deductions
3. Lecture on calculation of net pay
4. Calculation of deductions from jobs of their choice

Number of Students: 23

• 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

• Scrapbook and portfolio work

• Prepare pay stub, lecture and explanation of deductions

• Provide newspapers for project

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.

• reading
• listening
• presenting

Number of Students: 22

• 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

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:

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

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

• 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

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

• 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

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

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

• 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

• 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

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.

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

Number of Students: 22

• Learning disabled students

• Resource Centre, Computer Room and Classroom

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

• Completion of assignment

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

• Explain budget assignment

• Schedule library time and assist with Internet searches

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.)

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

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?

2. 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. 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. 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. 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. 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)

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

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