Money

1. Money Debit Cards Credit Cards Budgeting Profit & Loss Discount www.mathsrevision.com Hire Purchase Foreign Exchange (going on holiday) Foreign Exchange (coming back from holiday) Created by Mr. Lafferty Maths Dept.

2. Starter Questions • Two numbers add to give 12 and divide to give 3. Find the two numbers. • 2. Two numbers subtract to give 5 and • multiply to 24. Find the two numbers. • 3. Make your own question up. www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

3. Debit Cards Learning Intention Success Criteria 1. Understand the key points of Debit Cards. • 1. We are learning about Debit Cards. www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

4. Debit Card Chip and Pin Information Cardholder Name Contactless Payment 16 digit card number Start Date www.mathsrevision.com End Date Account Number Sort Code Created by Mr. Lafferty Maths Dept.

5. Debit Cards Magnet Strip Signature Strip Security Code www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

6. Debit Cards Buying with your money Normally no charge Not insured for transactions online www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

7. Money Now try TJ2b Ex 1 Ch7 (page 66) www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

8. Starter Questions The answer to the question is 90 www.mathsrevision.com What is the question ? Created by Mr. Lafferty Maths Dept.

9. Credit & Debit Cards Learning Intention Success Criteria 1. Understand the key differences between Debit and Credit Cards. • 1. We are learning about Credit & Debit Cards. www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

10. In pairs discuss the good and bad points of each. But they work very differently ! They look the same Credit & Buying with with your money Buying with the banks money www.mathsrevision.com % charge each month on burrowed money Normally no charge Not insured for transactions online Insured for transactions online Very easy to get into serious debit Created by Mr. Lafferty Maths Dept.

11. APR means Annual Percentage Rate Credit Cards Monthly = 24 ÷ 12 = 2% Example : Sean buys a new bicycle costing £850 on his Credit Card at an APR of 24%. Assuming he does not buy anything more with his credit card, how much will he owe the bank at the end of the month. 2 www.mathsrevision.com 100 x 850 = £17 Total now owed = £850 + 17 =£867 Created by Mr.Lafferty Maths Dept

12. Credit Cards Monthly = 30 ÷ 12 = 2.5% Example : During one month, Fallon owes £2000 on her Credit Card at an APR of 30%. Assuming she does not buy anything more with her credit card, how much will she owe the bank at the end of the month. www.mathsrevision.com x 2000 = £50 Total now owed = £2000 + 50 =£2050 2.5 100 Created by Mr.Lafferty Maths Dept

13. Money Now try TJ2b Ex 2 Ch7 (page 67) www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

14. Starter Questions www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

15. Budgeting Savings Learning Intention Success Criteria • To understand the important of managing money. • We are learning to manage money. • Solve simple problems involving saving money. www.mathsrevision.com Compiled by Mr. Lafferty Maths Dept.

16. Budgeting Savings Computer game For something in the future New bike Why save ? www.mathsrevision.com Phone Holidays Trainers Compiled by Mr. Lafferty Maths Dept.

17. Budgeting Savings Kayleigh saves £20 a week so she can buy a new bicycle costing £450. (a) Can she afford it after 22 weeks ? No ! Savings total = 22 x 20 = £ 440 www.mathsrevision.com (b) For how many more week does she need to save. 1 more week 450 - 440 = £10 created by Mr. Lafferty @ www.mathsrevision.com

18. Budgeting Savings Mark saves £11.00 a week so he can buy a new pair of football boots costing £150. (a) Can he afford it after 10 weeks ? No ! Savings total = 11 x 10 = £ 110 www.mathsrevision.com (b) For how many more week does he need to save. 40 ÷ 11 = 3.636 Another 4 weeks ! 150 - 110 = £40 created by Mr. Lafferty @ www.mathsrevision.com

19. Money Now try TJ2b Ex 3 Ch7 (page 68) www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

20. Starter Questions The answer to the question is 60 www.mathsrevision.com Write down as many questions as you can Created by Mr. Lafferty Maths Dept.

21. Profit and Loss Learning Intention Success Criteria • Understand the terms PROFIT and LOSS. • We are learning the • terms profit and loss. • Apply knowledge to calculations. In context. www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

22. Profit and Loss Profit : When you sell something for MORE than you bought it. PROFIT = Selling Price – Buying Price Loss : When you sell something for LESS than you bought it. www.mathsrevision.com LOSS = Buying Price – Selling Price Created by Mr. Lafferty Maths Dept.

23. Kenneth bought an iphone for £360 and sold it a year later for £290. How much of a loss did he make. Profit and Loss Loss www.mathsrevision.com £ 7 0 Created by Mr. Lafferty Maths Dept.

24. Emma sold one of her paintings for £1250. It cost her £395 for material. How much of a profit did she make. Profit and Loss Profit www.mathsrevision.com £ 8 5 5 Created by Mr. Lafferty Maths Dept.

25. Money Now try TJ2b Ex 4 Ch7 (page 69) www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

26. Starter Questions www.mathsrevision.com Compiled by Mr. Lafferty Maths Dept.

27. Discounts Learning Intention Success Criteria • Understand terms discount. 1. We are learning about discounts in context. • Calculate costs given discount information. www.mathsrevision.com Compiled by Mr. Lafferty Maths Dept.

28. Discount £ 3 1 . 5 0 In a sale the cost of a jumper is reduced by 10%. What is the sale price of the jumper. 10 www.mathsrevision.com X 35 = £3.50 100 Original Price £35 Created by Mr. Lafferty Maths Dept

29. Discount Example A house was valued at £90000. To sell quickly a discount of 8% was apply to the price. What was the new selling price of the house ? 8 www.mathsrevision.com X 90000 = £7200 100 £ 8 2 8 0 0 Created by Mr. Lafferty Maths Dept

30. Discount Now try TJ2b Ex 5 Ch7 (page 71) www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

31. Starter Questions www.mathsrevision.com 36o Created by Mr. Lafferty Maths Dept.

32. Hire Purchase Learning Intention Success Criteria • To know the meaning of the term HIRE PURCHASE. • We are learning the • the meaning of the term Hire Purchase. • Apply the process of working out the Hire Purchase for everyday products. www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

33. Hire Purchase Hire Purchase : When you pay for goods by putting down a deposit and then paying the rest up in small fixed payments over a period of time. www.mathsrevision.com Normally you pay more for the goods using this method. Created by Mr. Lafferty Maths Dept.

34. Hire Purchase Buying Products Hoover Cash Price £120 or by H.P. £30 deposit + 12 Payment £8.50 www.mathsrevision.com How much more do you pay by using Hire Purchase Total H.P. price = £30 + 12 x £8.50 = £132 Difference in price = £132 - £120 = £12 Created by Mr. Lafferty Maths Dept.

35. Hire Purchase Buying Products Washing Machine Cash Price £365.50 or by H.P. £75 deposit + 12 Payment £28.80 www.mathsrevision.com How much more do you pay by using Hire Purchase Total H.P. price = + 12 x £28.80 = £420.60 £75 Difference in price = £420.60 - £365.50 = £55.10 Created by Mr. Lafferty Maths Dept.

36. Hire Purchase Now try TJ2b Ex 6 Ch7 (page 72) www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

37. Starter Questions www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

38. Foreign Currency Converting to another currency Learning Intention Success Criteria • We are learning how to convert £’s to foreign currency. • 1. Understand the term exchange rate and the proportion method. www.mathsrevision.com • 2. Convert £’s to another currency. Created by Mr.Lafferty Maths Dept

39. Foreign Currency Converting to another currency Up until 1st January 2002, all the countries in Europe had their own type of money (currency). The euro was introduced and the other currencies were no longer accepted. Britain still uses the pound (£) and when you go to Europe on holiday you have to change your pounds to euros. www.mathsrevision.com A euro is divided into 100 parts and each part is called a cent Created by Mr.Lafferty Maths Dept

40. Exchange rate £1= Euro € 1.44 Dollar $ 1.51 Yen 190 Are we expecting more or less Foreign Currency Converting to another currency Example : How many euros will I get for £100. Proportion method £ € 1 1.44 100 www.mathsrevision.com (more) Created by Mr.Lafferty Maths Dept

41. Exchange rate £1 = Euro € 1.44 Dollar $ 1.51 Yen 190 Are we expecting more or less Foreign Currency Level 2 Converting to another currency Example : How many Dollars will I get for £50. Proportion method £ $ 1 1.51 50 www.mathsrevision.com (more) Created by Mr.Lafferty Maths Dept

42. Foreign Currency Now try TJ2b Ex 7 Ch7 (page 75) www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

43. Starter Questions www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

44. Foreign Currency Converting to another currency Learning Intention Success Criteria • We are learning how to convert foreign currency to £’s. • 1. Understand the term exchange rate and the proportion method. www.mathsrevision.com • Convert foreign currency • to £’s. Created by Mr.Lafferty Maths Dept

45. Exchange rate £1= Euro € 1.44 Dollar $ 1.51 Yen 190 Are we expecting more or less Foreign Currency Converting back to £’s Example : How many £’s will I get for 20 € . Proportion method €£ 1.44  1 20 www.mathsrevision.com (more) Created by Mr.Lafferty Maths Dept

46. Exchange rate £1 = Euro € 1.44 Dollar $ 1.50 Yen 190 Are we expecting more or less Foreign Currency Converting back to £’s Example : A business man returns from America with $450. He converts them back to £’s. How much will he get back ? Proportion method $£ 1.50  1 450 www.mathsrevision.com (more) Created by Mr.Lafferty Maths Dept

47. Have you updated your Learning Log ? Hire Purchase Now try TJ2b Ex 8 Ch7 (page 77) www.mathsrevision.com Created by Mr. Lafferty Maths Dept.