WEEK 25-PRINCIPLES-OF-FINANCIAL-LITERACY

Principles of Financial Literacy

Start

Objectives

%, Ratios and Proportions

Summary

Currency Conversion

Financial Literacy

Story

Story

Financial Literacy

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.

Why is Financial Literacy Important?

Percentages, Ratios and Proportions

Discount=Price × r%

Discount=$5

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

r%

is the discount percentage.

is the price.

Here:

Equation: The discount can be calculated as:

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

S=$80

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

r%

is the discount.

is the item cost.

Here:

Equation: The sale price S can be calculated as:

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

1:4

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

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

Currency Conversion

€85

1 USD = $4500 COP.

$100 = €85

$450,000

1 USD = 0.85 EUR.

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:

5000€

Click here to draw >

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.

Student's Trip

07:00

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The solution will appear in 30 seconds

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

Canadian Dollar

Euro

Colombian Peso

United States Dollar

EUR

CAD

USD

COP

Link the symbols with their meaning

Summary: Elementary Math in Finance

PERCENTAGES

CURRENCY EXCHANGES

OTHER

DISCOUNTS

SALE PRICE

QUOTIENT

PROPORTIONS

RATES

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

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Welcome 6th graders!

"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.

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

MATERIAL

It is highly advised to have: