Level 2 1-Oct-16Created by Mr. Lafferty Maths Dept. Debit Cards Credit Cards Money Budgeting Profit & Loss Discount Hire Purchase Foreign Exchange (going on holiday) Foreign Exchange (coming back from holiday)

Level 2 1-Oct-16Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions 1.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.

1-Oct-16Created by Mr. Lafferty Maths Dept. Learning Intention Success Criteria 1. We are learning about Debit Cards. 1. Understand the key points of Debit Cards. Debit Cards

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

1-Oct-16Created by Mr. Lafferty Maths Dept. Magnet Strip Debit Cards Security Code Signature Strip

1-Oct-16Created by Mr. Lafferty Maths Dept. Buying with your money Debit Cards Normally no charge Not insured for transactions online

1-Oct-16Created by Mr. Lafferty Maths Dept. Now try TJ2b Ex 1 Ch7 (page 66) Money

1-Oct-16Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions The answer to the question is 90 What is the question ?

1-Oct-16Created by Mr. Lafferty Maths Dept. Learning Intention Success Criteria 1. We are learning about Credit & Debit Cards. 1. Understand the key differences between Debit and Credit Cards. Credit & Debit Cards

1-Oct-16Created by Mr. Lafferty Maths Dept. Buying with with your money Credit & They look the same But they work very differently ! Buying with the banks money Normally no charge % charge each month on burrowed money Not insured for transactions online Insured for transactions online In pairs discuss the good and bad points of each. Very easy to get into serious debit

1-Oct-16Created by Mr.Lafferty Maths Dept Credit Cards 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. x 850 = £17Total now owed = £

1-Oct-16Created by Mr.Lafferty Maths Dept Credit Cards Example : During one month, Fallon owes £2000 on her Credit Card at an APR of 30%. APR means Annual Percentage Rate Assuming she does not buy anything more with her credit card, how much will she owe the bank at the end of the month x 2000 = £50Total now owed = £2050

1-Oct-16Created by Mr. Lafferty Maths Dept. Now try TJ2b Ex 2 Ch7 (page 67) Money

Level 2 1-Oct-16Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions

N4 LS 1-Oct-16Compiled by Mr. Lafferty Maths Dept. Learning Intention Success Criteria 1.To understand the important of managing money. 1.We are learning to manage money. 2.Solve simple problems involving saving money. Budgeting Savings

N4 LS Budgeting Savings 1-Oct-16Compiled by Mr. Lafferty Maths Dept. Why save ? Phone Trainers Computer game Holidays New bike For something in the future

N4 LS Kayleigh saves £20 a week so she can buy a new bicycle costing £450. (a) Can she afford it after 22 weeks ? Saturday, October 01, 2016Saturday, October 01, 2016Saturday, October 01, 2016Saturday, October 01, 2016created by Mr x 20= £ 380Savings total = = £70 Budgeting Savings (b) For how many more week does she need to save. 70÷20 = 3.5 Another 4 weeks No !

N4 LS Mark saves £11.00 a week so he can buy a new pair of football boots costing £150. (a) Can he afford it after 13 weeks ? Saturday, October 01, 2016Saturday, October 01, 2016Saturday, October 01, 2016Saturday, October 01, 2016created by Mr x 13= £ 141Savings total = = £9 Budgeting Savings (b) For how many more week does he need to save. 9 ÷ 11 = Another week ! No !

1-Oct-16Created by Mr. Lafferty Maths Dept. Now try TJ2b Ex 3 Ch7 (page 68) Money

Level 2 1-Oct-16Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions The answer to the question is 60 Write down as many questions as you can

Level 2 1-Oct-16Created by Mr. Lafferty Maths Dept. Learning Intention Success Criteria 1.Understand the terms PROFIT and LOSS. 1.We are learning the terms profit and loss. 2.Apply knowledge to calculations. In context. Profit and Loss

Level 2 1-Oct-16Created by Mr. Lafferty Maths Dept. Profit and Loss Profit :When you sell something for MORE than you bought it. Loss :When you sell something for LESS than you bought it. PROFIT = Selling Price – Buying Price LOSS = Buying Price – Selling Price

Level 2 1-Oct-16Created by Mr. Lafferty Maths Dept. Profit and Loss Kenneth bought an iphone for £360 and sold it a year later for £290. How much of a loss did he make. Loss £ 7 0

Level 2 1-Oct-16Created by Mr. Lafferty Maths Dept. Profit and Loss Emma sold one of her paintings for £1250. It cost her £395 for material. How much of a profit did she make. £ Profit

1-Oct-16Created by Mr. Lafferty Maths Dept. Now try TJ2b Ex 4 Ch7 (page 69) Money

Level 2 1-Oct-16Compiled by Mr. Lafferty Maths Dept. Starter Questions

1-Oct-16Compiled by Mr. Lafferty Maths Dept. Discounts Learning Intention Success Criteria 1.Understand terms discount. 1.We are learning about discounts in context. 2.Calculate costs given discount information.

Created by Mr. Lafferty Maths Dept Discount In a sale the cost of a jumper is reduced by 10%. What is the sale price of the jumper. Original Price £ X 35 =£3.50 £

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

1-Oct-16Created by Mr. Lafferty Maths Dept. Now try TJ2b Ex 5 Ch7 (page 71) Discount

1-Oct-16Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions 36 o

Level 2 1-Oct-16Created by Mr. Lafferty Maths Dept. Learning Intention Success Criteria 1.To know the meaning of the term HIRE PURCHASE. 1.We are learning the the meaning of the term Hire Purchase. 2.Apply the process of working out the Hire Purchase for everyday products. Hire Purchase

Level 2 1-Oct-16Created by Mr. Lafferty Maths Dept. 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. Normally you pay more for the goods using this method.

Level 2 1-Oct-16Created by Mr. Lafferty Maths Dept. Buying Products Hoover Cash Price £120 or by H.P. £30 deposit + 12 Payment £8.50 £ x £8.50 = £132Total H.P. price = Hire Purchase Difference in price =£132 - £120 = £12 How much more do you pay by using Hire Purchase

1-Oct-16Created by Mr. Lafferty Maths Dept x £28.80 = £420.60Total H.P. price = Difference in price =£ £ = £55.10 How much more do you pay by using Hire Purchase Buying Products Washing Machine Cash Price £ or by H.P. £75 deposit + 12 Payment £28.80 £75 Hire Purchase

1-Oct-16Created by Mr. Lafferty Maths Dept. Now try TJ2b Ex 6 Ch7 (page 72) Hire Purchase

1-Oct-16Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions

1-Oct-16Created by Mr.Lafferty Maths Dept Foreign Currency Learning Intention Success Criteria 2.Convert £’s to another currency. 1.We are learning how to convert £’s to foreign currency. 1.Understand the term exchange rate and the proportion method. Converting to another currency

1-Oct-16Created by Mr.Lafferty Maths Dept Foreign Currency Up until 1 st 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. A euro is divided into 100 parts and each part is called a cent Converting to another currency

1-Oct-16Created by Mr.Lafferty Maths Dept Foreign Currency Euro € Dollar $ Yen190 Exchange rate £1= Example :How many euros will I get for £100. Converting to another currency Proportion method £ € 1  Are we expecting more or less (more)

1-Oct-16Created by Mr.Lafferty Maths Dept Level 2 Foreign Currency Euro € Dollar $ Yen190 Exchange rate £1 = Example : How many Dollars will I get for £50. Converting to another currency Proportion method £ $ 1  Are we expecting more or less (more)

1-Oct-16Created by Mr. Lafferty Maths Dept. Now try TJ2b Ex 7 Ch7 (page 75) Foreign Currency

1-Oct-16Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions

1-Oct-16Created by Mr.Lafferty Maths Dept Foreign Currency Learning Intention Success Criteria 2.Convert foreign currency to £’s. to £’s. 1.We are learning how to convert foreign currency to £’s. 1.Understand the term exchange rate and the proportion method. Converting to another currency

1-Oct-16Created by Mr.Lafferty Maths Dept Foreign Currency Euro € Dollar $ Yen190 Exchange rate £1= Example :How many £’s will I get for 20 €. Converting back to £’s Proportion method € £ 1.44  1 20 Are we expecting more or less (more)

1-Oct-16Created by Mr.Lafferty Maths Dept Foreign Currency Euro € Dollar $ Yen190 Exchange rate £1 = Example : A business man returns from America with $450. He converts them back to £’s. How much will he get back ? Converting back to £’s Proportion method $ £ 1.50  Are we expecting more or less (more)

1-Oct-16Created by Mr. Lafferty Maths Dept. Now try TJ2b Ex 8 Ch7 (page 77) Hire Purchase Have you updated your Learning Log ?