Being Money Wise

Question Why do you have to be wise with your money?

Skills that will be covered Ratios Rates Unit Rates Proportions

What is a ratio? A comparison of two things that have the same unit.

Example Which team won the NBA 2008 championship? What was the score of the final game? Celtics: 131 Lakers: 92

Lakers 92 Celtics 131 This is a ratio Ratios can be written as follows 92 to :131 points

What is a rate? If ratios compare two things that have the same units, Then a rate does what? Compares two things that have different units

Examples of rates You made $400 in 4 days This can be written as a fraction 2 different units (dollars & days) $4004 days

Unit Rates Easy question: How much did you make each day? This is an example of a UNIT RATE $400 4 days 1 st Day2 nd Day3 rd Day4 th Day $100 1 day

Who made more? If you made $400 working 4 days And your friend made $900 working 15 days Whose job pays better? Find out how much you and your friend gets paid every day. So the strategy Is to find the UNIT RATE $400 4 days $100 1 day You $ days ? 1 day Your Friend $60

Minimum Wage $5.85 per hour Write this as a UNIT RATE By the way, if 2 fractions are equal, do you know what that is called? A proportion $ hour10 hours ? $58.50

Alabama$5.85 Alaska$7.15 Arizona$6.90 Arkansas$6.25 California$8.00 Colorado$7.02 Connecticut$7.65 Delaware$7.15 Georgia$5.85 Hawaii$7.25 Idaho$5.85 Illinois $7.75 Indiana $5.85 Iowa $7.25 Kansas $5.85 Kentucky $5.85 Louisiana $5.85 Maine $7.00 Maryland $6.15 Massachusetts $8.00 Michigan $7.15 Minnesota $6.15 Mississippi $5.85 Minimum Wage of 24 States What states have the highest minimum wage? Why do different states have different minimum wages? California$8.00 Massachusetts $ hour

Buying Laundry Detergent Your mom sent you to the grocery store She told you to buy washing powder There were only 2 boxes left! One box costs $52.21 for 63 loads (WHAT?)(WHAT?)

Buying Laundry Detergent One box costs $52.21 for 63 loads The other box costs for $39.99 for 40 loads Which box is the better deal? Hint: Find unit rates

Setting your problem up $52.21 buys you 63 loads$39.99 buys you 40 loads $ loads $ loads WANT A HINT? ? 1 load ? $0.83$1.00 Answer in Calculator: Answer in Calculator:

Buying Eggs When you got home, your mom wants you to go back and get some eggs A dozen eggs costs $ ½ dozen eggs costs $5.50 Which one is the better deal?

$ eggs $ eggs1 egg $0.23$0.18

Conclusion/Moral If you save a little change here and there Which will change into… The change will change into dollars

Conclusion/Moral THE END

$52 for laundry detergent? Do you know where most laundry detergents comes from? Petroleum! What else is made from petroleum?

Remember This Example? If you made $400 working 4 days And your friend made $900 working 15 days Whose job pays better? Find out how much you and your friend gets paid every day. So the strategy Is to find the UNIT RATE $400 4 days $100 1 day You $ days ? 1 day Your Friend $60 OKAY I GOT IT!