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Financial Mathematics

Financial Mathematics. Office Worker - Bob. Salary $100,000. Get into groups of 3-4. Choose a name for your group. Station A. Pick up a card from station A and calculate Bob’s salary after income tax. Put your answer on the sheet at the front of the class. Station B.

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Financial Mathematics

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  1. Financial Mathematics

  2. Office Worker - Bob Salary $100,000

  3. Get into groups of 3-4 • Choose a name for your group.

  4. Station A • Pick up a card from station A and calculate Bob’s salary after income tax. • Put your answer on the sheet at the front of the class.

  5. Station B • Pick up a card from station B and calculate Bob’s savings. • Put the interest saved on the sheet at the front of the class.

  6. Credit card information • Funny Moneyman Credit Card Game Show • http://www.youtube.com/watch?v=g6_YvIhPKMk

  7. Station C • Bob buys a car for $5,000 • Pick up a card from Station C to calculate how much he paid. • Put your answer on the sheet at the front of the class as a negative amount.

  8. Which ‘Bob’ group is currently worth the most?

  9. Station D • Bob buys a house. • Pick up a card from Station D to calculate the profit of the house. • Put your answer on the sheet at the front of the class.

  10. Station E • Bob decides to go on holiday…he buys a tent. $730 • Pick up a card from station E. • How much did he pay for the tent? • Put your answer on the sheet at the front of the class as a minus.

  11. Which group has saved the most and why? • You all had an annual salary of $100,000. • You all bought a car worth $5,000 and a tent worth $730. • You all bought a house worth $500,000.

  12. Finally • In groups, make another question for a new station. • Discuss the probability of picking the most profitable card at each station. • What are common errors made when spending/budgeting?

  13. Probability…. • Next week we will be starting probability…

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