Being Money Wise
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Being Money Wise
description
Being Money Wise. Question. Why do you have to be wise with your money?. Skills that will be covered. Ratios Rates Unit Rates Proportions. What is a ratio?. A comparison of two things that have the same unit. Example. Which team won the NBA 2008 championship? - PowerPoint PPT Presentation
Transcript of Being Money Wise
Being Money Wise
Question• Why do you have to be wise with your
money?
Skills that will be covered• Ratios• Rates• Unit Rates• Proportions
What is a ratio?• A comparison of two things that have the
same unit.
Example• Which team won the NBA
2008 championship?• What was the score of the
final game?• Celtics: 131• Lakers: 92
• Lakers 92• Celtics 131• This is a ratio
• Ratios can be written as follows• 92 to 131• 92:131
pointspoints
131pts92pts
What is a rate?• If ratios compare two things that have the
same units, • Then a rate does what?
• Compares two things that have different units
Examples of rates• You made $400 in 4 days
• This can be written as a fraction
• 2 different units (dollars & days)
$400 4 days
Unit Rates
• Easy question: How much did you make each day?
• This is an example of a UNIT RATE
$4004 days
1st Day 2nd Day 3rd Day 4th Day
$1001 day
Who made more?• If you made $400 working 4 days• And your friend made $900 working 15 days• Whose job pays better?• Find out how much you and your friend gets
paid every day.
• So the strategy • Is to find the UNIT RATE
$4004 days
$1001 day
You
$90015 days
?1 day
Your Friend
$60
Minimum Wage• $5.85 per hour
• Write this as a UNIT RATE
• By the way, if 2 fractions are equal, do you know what that is called?
• A proportion
$5.851 hour 10 hours
?$58.50
Alabama $5.85Alaska $7.15Arizona $6.90Arkansas $6.25California $8.00Colorado $7.02Connecticut $7.65Delaware $7.15Georgia $5.85Hawaii $7.25Idaho $5.85
Illinois $7.75Indiana $5.85Iowa $7.25Kansas $5.85Kentucky $5.85Louisiana $5.85Maine $7.00Maryland $6.15Massachusetts $8.00Michigan $7.15Minnesota $6.15Mississippi $5.85
Minimum Wage of 24 States
What states have the highest minimum wage?
Why do different states have different minimum wages?
California $8.00
Massachusetts $8.00
$8.001 hour
Buying Laundry Detergent• Your mom sent you to the grocery store• She told you to buy washing powder• There were only 2 boxes left!• One box costs $52.21 for 63 loads (WHAT?)
Buying Laundry Detergent• One box costs $52.21 for 63 loads• The other box costs for $39.99 for 40 loads• Which box is the better deal?• Hint: Find unit rates
Setting your problem up
$52.21 buys you 63 loads $39.99 buys you 40 loads
$52.2163 loads
$39.9940 loads
WANT A HINT?
? 1 load
? 1 load
$0.83 $1.00
Answer in Calculator:
0.82873015873015873015873015873016
Answer in Calculator:
0.99975
Buying Eggs• When you got home, your mom wants you to
go back and get some eggs• A dozen eggs costs $2.75• 2 ½ dozen eggs costs $5.50• Which one is the better deal?
$2.7512 eggs
$5.5030 eggs1 egg 1 egg
$0.23 $0.18
Conclusion/MoralIf you save a little change here and there
Which will change into…
The change will change into dollars
Conclusion/Moral
THE END
$52 for laundry detergent?• Do you know where most laundry detergents
comes from?• Petroleum!• What else is made from petroleum?
Remember This Example?• If you made $400 working 4 days• And your friend made $900 working 15 days• Whose job pays better?• Find out how much you and your friend gets
paid every day.
• So the strategy • Is to find the UNIT RATE
$4004 days
$1001 day
You
$90015 days
?1 day
Your Friend
$60
OKAY I GOT IT!
