WEEK 25-PRINCIPLES-OF-FINANCIAL-LITERACY

Principles of Financial Literacy

Objectives

Start

Story

Financial Literacy

%, Ratios and Proportions

Currency Conversion

Summary

Story

Financial Literacy

Why is Financial Literacy Important?

It empowers individuals to make informed financial decisions, avoid debt, and plan for the future.

Example 1: Knowing how to budget your salary can prevent overspending and help save for emergencies.

Percentages, Ratios and Proportions

Percentages are used to calculate discounts, interest rates, and taxes.

Equation: The discount can be calculated as:

Discount=Price × r%

Here:

Example 2: A $50 video game with a 10% has a discount of:

is the price.

is the discount percentage.

r%

Discount=$5

Percentages are used to calculate discounts, interest rates, and taxes.

Equation: The sale price S can be calculated as:

Example 3: A $100 tablet with a 20% discount costs:

Here:

is the item cost.

is the discount.

r%

S=$80

Ratios compare two quantities, while proportions show equality between two ratios.

Example 5: Proportion For the example 4, if you earn ed $1600 instead of $800, and mantain proportion, savings would be:

Example 4: Ratio If you save $200 for every $800 you earn, the savings ratio is:

$400

1:4

Currency Conversion

Currency conversion involves changing money from one currency to another using exchange rates.

Example 7: USD to COP If the exchange rate is Converting $100 to COP would give the equivalence: $450,000 COP.

Example 6: USD to EUR If the exchange rate is Converting $100 to euros would give the equivalence:

1 USD = 0.85 EUR.

1 USD = $4500 COP.

$100 = €85

$450,000

€85

Click here to draw >

Student's Trip

If she has $21'000,000 COP find the amount into EUR. Exchange rate: $4 600

A student planning a trip to Europe needs to convert their savings from COP into euros.

5000€

07:00

Click here to draw >

• COP --> Colombian Peso
• USD --> United States Dollar
• CAD --> Canadian Dollar
• EUR --> Euro

Link the symbols with their meaning

The solution will appear in 30 seconds

COP

United States Dollar

USD

Colombian Peso

CAD

Euro

EUR

Canadian Dollar

Summary: Elementary Math in Finance

RATES

PROPORTIONS

PERCENTAGES

QUOTIENT

CURRENCY EXCHANGES

OTHER

DISCOUNTS

SALE PRICE

Great job!

See you next time

Welcome 6th graders!

A journey soon begin through Social Science experiences!

9TH-PRINCIPLES-OF-FINANCIAL-LITERACY-EN © 2024 by CASURID is licensed under CC BY-NC-ND 4.0

"MA.912.FL.1 Build mathematical foundations for financial literacy." MA.912.FL.1.1 Extend previous knowledge of operations of fractions, percentages and decimals to solve real-world problems involving money and business. MA.912.FL.1.2 Extend previous knowledge of ratios and proportional relationships to solve real-world problems involving money and business. MA.912.FL.2.4 Given current exchange rates, convert between currencies. Solve real-world problems involving exchange rates. ELD.K12.ELL.MA.1 English language learners communicate information, ideas and concepts necessary for academic success in the content area of Mathematics.

MATERIAL

It is highly advised to have:

• Grid paper.
• Pencils of different colors.
• Eraser.
• A rule.
• A calculator.
• Geogebra installed on your phone/tablet/computer (or use online version).