Mathematics for Business and Personal Finance Lesson Objective Compute the average monthly expenditure. Content Vocabulary recordkeeping expenditures recordkeeping.

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Presentation transcript:

Mathematics for Business and Personal Finance Lesson Objective Compute the average monthly expenditure. Content Vocabulary recordkeeping expenditures recordkeeping Keeping track of items you spend money on during a period of time, to help you manage your money. budget sheet living expenses budget expenditures Items you spend money on. budget sheet A record of monthly expenses. living expenses Routine expenses, including amounts for food, utility bills, and pocket expenses. budget A plan for using money in a way that meets your wants and needs.

Mathematics for Business and Personal Finance

Sue and Chris Miller keep records of their expenditures. They want to know how much they spend each month (on the average). Below are their records for three months. What is their average monthly expenditure?

Mathematics for Business and Personal Finance

Step: Compute the average monthly expenditure. A. Find the sum of monthly expenditures. $2, $2, $2, = $7, B. Divide the sum by the number of months. Sum of Monthly Expenditures ÷ Number of Months $7, ÷ 3 = $2,392.24

Mathematics for Business and Personal Finance Use the Millers’ records of monthly expenditures to find the average monthly amount spent for the electric bill?

Mathematics for Business and Personal Finance Step: Compute the average monthly expenditure. A. Find the sum of monthly expenditures. $ $ $ = $ B. Divide the sum by the number of months. Sum of Monthly Expenditures ÷ Number of Months $ ÷ 3 = $133.64

Mathematics for Business and Personal FinanceClasswork/Homework Blue Textbook on Chromebooks Blue Textbook on Chromebooks Pg. 147:1-16 Redemption Code: J57M-XRMV-2JOO