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 PresentationTRANSCRIPT
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!