$1 = 100 cents 1 cent = 𝟏 𝟏𝟎𝟎 dollar 1 cent = 𝟏 𝟏𝟎𝟎 dollar = $0.01 2 cents = 𝟐 𝟏𝟎𝟎 dollar 2 cents = 𝟐 𝟏𝟎𝟎 dollar = $0.02 10 cents = 𝟏 𝟏𝟎 dollar 0.1 = 0.10 10 cents = 𝟏 𝟏𝟎 dollar = $0.10 Fractions and Decimals 16 Place Value 22 Money and Financial Maths 11

ones tenths hundredths decimal point $4.25 hundredths $ 4 . 2 5 tenths hundredths ones tenths hundredths decimal point Fractions and Decimals 16 Place Value 22 Money and Financial Maths 11

Reflection: How is our money system based on place value? Investigation: Select an amount of money involving cents. Record the cents as fractions, and as decimal fractions of a dollar. For example, For example, $0.52 = 𝟓 𝟏𝟎 dollar + 𝟐 𝟏𝟎𝟎 dollar and $0.52 = 0.52 dollar. Select an amount of money involving dollars and cents. Record the dollars as whole numbers, and the cents as fractions, and as decimal fractions of a dollar. For example, $3.52 = 3 ones dollars + 𝟓 𝟏𝟎 dollar + 𝟐 𝟏𝟎𝟎 dollar and $3.52 = 3.52 dollars. Reflection: How is our money system based on place value? Problem Solving Tara has 6.25 dollars. How much money is this in dollars and cents? How do you know? Problem Solving Tara has 6 25 100 dollars. How much money is this in dollars and cents? How do you know? Problem Solving The coin in my pocket has a lower value than 0.2 of a dollar. What coin might I have? Problem Solving I have 1 10 of a dollar. How much money do I have? Problem Solving The coin in my pocket has a lower value than 1 2 of a dollar. What coin might I have? Fractions and Decimals 16 Place Value 22 Money and Financial Maths 11

Fractions and Decimals 16 Place Value 22 Money and Financial Maths 11

Investigation: Investigate another country’s currency, identifying whether it is a decimal system like Australia’s Reflection: What are some similarities and differences between the two currencies? Fractions and Decimals 16 Place Value 22 Money and Financial Maths 11

Reflection: Is the currency of the United States of America decimal? Investigation: Investigate the currency of the United States of America, identifying that 25 cents is called a quarter. Reflection: Is the currency of the United States of America decimal? Fractions and Decimals 16 Place Value 22 Money and Financial Maths 11

Your friend records the amount of money in dollars and cents. Investigation: Sit with a friend. Take turns to record an amount of money as a number of dollars and a fraction and as a decimal fraction of a dollar. Your friend records the amount of money in dollars and cents. Reflection: What is the relationship between cents and hundredths? Fractions and Decimals 16 Place Value 22 Money and Financial Maths 11

Record each coin as a decimal fraction and as a fraction of a dollar. Investigation: Have one of each coin. Record each coin as a decimal fraction and as a fraction of a dollar. For example, 50 cents may be recorded as 0.5 dollars or 𝟓 𝟏𝟎 dollar or 𝟓𝟎 𝟏𝟎𝟎 dollar or 𝟏 𝟐 dollar. Reflection: How many different ways can we record 50 cents? Fractions and Decimals 16 Place Value 22 Money and Financial Maths 11

Investigation: Have one of each coin. Add two or more coins together and record their sum as a decimal and as a fraction of dollar, or as a number of dollars and a decimal or a fraction of a dollar. For example, 50 cents + 20 cents may be recorded as 0.7 dollars or 𝟕 𝟏𝟎 dollar or 𝟕𝟎 𝟏𝟎𝟎 dollar. Reflection: How can we use place value to explain the relationship between dollars and cents? Fractions and Decimals 16 Place Value 22 Money and Financial Maths 11

Research the history of decimal currency in Australia. Investigation: Research the history of decimal currency in Australia. Research the non-decimal currency that was used in Australia prior to decimal currency in 1966. Reflection: Why do you think Australia changed to decimal currency? Fractions and Decimals 16 Place Value 22 Money and Financial Maths 11

Research the history of money. Investigation: Research the history of money. Reflection: How did people invent money? Fractions and Decimals 16 Place Value 22 Money and Financial Maths 11

Create your own currency, deciding on a suitable base. Investigation: Create your own currency, deciding on a suitable base. Reflection: How did you create your money system? Fractions and Decimals 16 Place Value 22 Money and Financial Maths 11