Mathematics - Money Management

Index

Superintendent Letter
Mission Statement
Foreword
Introduction
Vocabulary

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Mathematics (Updated October 2003)

Mathematics - Money Management

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Goals and Descriptions

Number and Operations

PS1: COMPUTATION AND ESTIMATION: EARNING
The learner will be able to develop fluency in all operations dealing with earning money.

ллл	M.MM.1.1 Personal Income: Total Time The learner will be able to calculate total time worked from a timecard.

ллл	M.MM.1.2 Personal Income: Determine The learner will be able to calculate regular time and overtime pay, total pay for piecework, gross pay according to hourly wages plus tips, salary, straight commission, and salary plus commission.

ллл	M.MM.1.3 Budgets: Week/Month/Annual The learner will be able to prepare a budget for a given income on a weekly, monthly, and annual basis.

ллл	M.MM.1.4 Income: Compare/Pay Periods The learner will be able to identify and compare various pay periods.

ллл	M.MM.1.5 Taxes: Complete/Federal The learner will be able to complete federal (1040EZ and 1040A) tax forms and state income tax forms for given data.

лл	M.MM.1.6 Personal Income: Net Pay The learner will be able to compute net pay, taking into account federal, state, and local taxes, social security, and various miscellaneous deductions.

лл	M.MM.1.7 Personal Finance: Record Keeping The learner will be able to explore and compare various methods of personal record keeping.

л	M.MM.1.8 Personal Finance: Planning/Decisions The learner will be able to demonstrate an awareness of how income and personal goals affect financial planning and decisions.

л	M.MM.1.9 Personal Finance: Resources The learner will be able to identify resources and processes in the event of financial difficulty.

PS2: COMPUTATION AND ESTIMATION: SAVING
The learner will be able to develop fluency in all operations dealing with saving money.

ллл	M.MM.2.1 Banking: Explain Process The learner will be able to describe process of opening a checking and/or savings account, making deposits and withdrawals.

ллл	M.MM.2.2 Banking: Reconcile Statement The learner will be able to reconcile a checking account given a sample bank statement and a check register.

ллл	M.MM.2.3 Interest: Compute/Simple The learner will be able to compute simple and compound interest.

лл	M.MM.2.4 Banking: Compare The learner will be able to compare various banking institutions (banks, credit unions, and savings and loans) and services provided by each.

л	M.MM.2.5 Benefits: Retirement The learner will be able to compute monthly retirement benefits from social security.

л	M.MM.2.6 Benefits: Pension The learner will be able to calculate annual pension from a retirement plan.

PS3: COMPUTATION AND ESTIMATION: INVESTING
The learner will be able to develop fluency in all operations dealing with investing money.

ллл	M.MM.3.1 Investments: Problem Solve The learner will be able to solve problems related to the purchase of, deposits made to, and withdrawals from savings accounts, money market accounts, certificates of deposit, savings bonds stocks, and/or IRAs.

ллл	M.MM.3.2 Investments: Property The learner will be able to recognize the advantages and disadvantages of property ownership.

ллл	M.MM.3.3 Investments: Compare/Contrast The learner will be able to compare and contrast savings accounts, money market accounts, certificates of deposit, savings bonds stocks, and IRAs.

лл	M.MM.3.4 Benefits: Retirement The learner will be able to identify sources of retirement income and map out a sample plan for retirement income.

лл	M.MM.3.5 Insurance: Investigate The learner will be able to investigate various forms of insurance, such as dental, disability, and accidental death.

л	M.MM.3.6 Insurance: Calculate/Premium The learner will be able to compare different kinds of life insurance and calculate premiums.

PS4: COMPUTATION AND ESTIMATION: SPENDING
The learner will be able to develop fluency in all operations dealing with spending money.

ллл	M.MM.4.1 Budgets: Utility Costs The learner will be able to compute utility costs.

ллл	M.MM.4.2 Spending: Strategies/Selling The learner will be able to identify various means used to sell products and services such as advertising and promotions.

ллл	M.MM.4.3 Spending: Taxes/Purchase Price The learner will be able to compute sales tax, total purchase price and change received in a cash purchase.

ллл	M.MM.4.4 Spending: Discounts The learner will be able to calculate discount, successive discounts, and sale price of an item.

ллл	M.MM.4.5 Spending: Unit Price The learner will be able to compare unit-price to make shopping comparisons to determine the better buy.

ллл	M.MM.4.6 Spending: Catalogue Shopping The learner will be able to fill out a catalog order form and compute the total cost.

ллл	M.MM.4.7 Spending: Transportation/Lodging The learner will be able to compare costs of various forms of transportation and lodging.

ллл	M.MM.4.8 Spending: Leisure Activities The learner will be able to select leisure activities and investigate the related expenses.

ллл	M.MM.4.9 Budget: Vacation The learner will be able to plan a vacation using a given amount of money.

ллл	M.MM.4.10 Spending: Efficiency Ratings The learner will be able to compare and contrast the efficiency ratings for large and small appliances.

ллл	M.MM.4.11 Personal Taxes: Problem Solve The learner will be able to solve problems related with taxes by computing state, federal, and local income taxes, property taxes, social security tax, and estate and inheritance taxes.

лл	M.MM.4.12 Insurance: Calculate/Health The learner will be able to compute health insurance premiums and expenses incurred when a claim is filed.

лл	M.MM.4.13 Personal Finance: Rent The learner will be able to investigate costs associated with renting, such as, deposits required, and renter's insurance premium.

лл	M.MM.4.14 Spending: Telephone The learner will be able to determine services provided by local telephone companies and the related costs.

лл	M.MM.4.15 Spending: Telephone The learner will be able to compare services available from long distance telephone service providers.

лл	M.MM.4.16 Spending: Cable/Internet The learner will be able to compare services and related costs of cable and internet companies.

лл	M.MM.4.17 Taxes: Describe The learner will be able to discuss various types of taxes and how the funds are used.

лл	M.MM.4.18 Spending: Deceptive Advertising The learner will be able to explore instances of deceptive advertising, deceptive packaging, hard-sell tactics, and masked credit practices.

лл	M.MM.4.19 Spending: Warranties The learner will be able to examine advantages and disadvantages of extended warranties.

лл	M.MM.4.20 Spending: Car Costs/Insurance The learner will be able to calculate costs associated with buying and owning a car.

л	M.MM.4.21 Spending: Owning/Leasing The learner will be able to explain the advantages and disadvantages of owning or leasing a vehicle.

л	M.MM.4.22 Real World Mathematics: Leasing The learner will be able to interpret rights and responsibilities involved with leasing, warranties, guarantees, and sales contracts.

л	M.MM.4.23 Real World Mathematics: Consumer The learner will be able to identify agencies that deal with consumer problems.

PS5: COMPUTATION AND ESTIMATION: BORROWING
The learner will be able to develop fluency in all operations dealing with borrowing money.

ллл	M.MM.5.1 Purchases: Down Payment The learner will be able to compute the amount down payment required to buy a house/ condominium, and the price that can be afforded for given income (rule of 2 1/2).

ллл	M.MM.5.2 Credit Cards: Advantages/Disadvantages The learner will be able to explain the advantages and disadvantages of using a credit card.

ллл	M.MM.5.3 Credit: Rating The learner will be able to explain how a credit rating is established and how it effects the ability to obtain a loan.

ллл	M.MM.5.4 Personal Finance: Mortgage/Rent The learner will be able to determine the percentage of income available for monthly rent or mortgage payment.

ллл	M.MM.5.5 Loans: Monthly Mortgage The learner will be able to calculate a monthly mortgage payment and monthly escrow amount.

ллл	M.MM.5.6 Loans: Compute/Total Interest The learner will be able to calculate the total interest paid on a loan.

лл	M.MM.5.7 Budget: Closing Costs The learner will be able to estimate the closing costs when buying a house.

лл	M.MM.5.8 Credit: Finance Charge The learner will be able to compute the finance charge for a credit card and/or charge account by the unpaid balance method and average daily balance method.

лл	M.MM.5.9 Loans: Finance Charge/Payment The learner will be able to calculate the finance charge and monthly payment on an installment plan.

лл	M.MM.5.10 Loans: Interest/Service Charges The learner will be able to compute interest and service charges for different types of loans.

л	M.MM.5.11 Credit: Compare The learner will be able to compare various credit plans ( including layaway) to identify the best choice for a specific need.

л	M.MM.5.12 Loans: Compare/Institutions The learner will be able to compare different lending institutions with regard to services, costs, and types of loans.

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