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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?

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Being Money Wise

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  1. Being Money Wise

  2. Question • Why do you have to be wise with your money?

  3. Skills that will be covered • Ratios • Rates • Unit Rates • Proportions

  4. What is a ratio? • A comparison of two things that have the same unit.

  5. Example • Which team won the NBA 2008 championship? • What was the score of the final game? • Celtics: 131 • Lakers: 92

  6. Lakers 92 • Celtics 131 • This is a ratio • Ratios can be written as follows • 92 to 131 • 92:131 points points

  7. 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

  8. Examples of rates $400 4 days • You made $400 in 4 days • This can be written as a fraction • 2 different units (dollars & days)

  9. Unit Rates • Easy question: How much did you make each day? • This is an example of a UNIT RATE $400 $100 4 days 1 day 1st Day 2nd Day 3rd Day 4th Day

  10. 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 $400 $100 $900 $60 ? 4 days 1 day 15 days 1 day You Your Friend

  11. 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 ? $5.85 $58.50 1 hour 10 hours

  12. Minimum Wage of 24 States $8.00 1 hour What states have the highest minimum wage? Why do different states have different minimum wages?

  13. 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?)

  14. 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

  15. Setting your problem up $52.21 buys you 63 loads $39.99 buys you 40 loads $52.21 $0.83 ? $39.99 $1.00 ? 63 loads 1 load 40 loads 1 load Answer in Calculator: Answer in Calculator: 0.82873015873015873015873015873016 0.99975 WANT A HINT?

  16. 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?

  17. $2.75 $0.23 $5.50 $0.18 12 eggs 1 egg 30 eggs 1 egg

  18. Conclusion/Moral If you save a little change here and there The change will change into dollars Which will change into…

  19. Conclusion/Moral THE END

  20. $52 for laundry detergent? • Do you know where most laundry detergents comes from? • Petroleum! • What else is made from petroleum?

  21. 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 $400 $100 $900 $60 ? 4 days 1 day 15 days 1 day You Your Friend OKAY I GOT IT!

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