Math 11, PC Unit 1 Learning Guide PDF

~ Math 11, PC WCLN.catf UNIT 1 LEARNING GUIDE - FINANCES INSTRUCTIONS: Using a pencil, complete the following questions as you work through the related lessons. Show ALL of your...

~ Math 11, PC WCLN.catf UNIT 1 LEARNING GUIDE - FINANCES INSTRUCTIONS: Using a pencil, complete the following questions as you work through the related lessons. Show ALL of your work, as is explained in the lessons. Do your best an d always ask questions if there is anything that you don't understand. 1.1 HISTORY OF FINANCE 1. Classify each example as barter or money by marking the correct box with an X Barter. Money ✓ a. Exchanging $30 for a concert ticket..✓ - , An exchange using coins. Trading doing chores.for dinner. Simi gives Jared her juice box in exchange for him cleaning her desk. ✓ '~ ✓- Going to a show and agreeing to clean up afterwards for your ticket. ✓ The trading of one service for another service. ✓ Trading eight dollars for lunch. ·✓ Mr. R traded Mr. B a chairs and a table for a leather belt and shoes. ✓ ~ The five steps of Material Consumption are listed below, but they are not in order. Consumption Distribution Extraction Disposal Production a. Order the steps that "stuff' moves through.. L99n uov , , i. E""-,c ~r~ c.-\-i Of'\ iv. C,of\S\> m?\\ on ii.~;,--~·c·HQi>.:.' \ iii. Pt5~~+ion V2:3/26/24 Page 1 of25 Math 11, PC b. Give an example of what each step might look like for a laptop. 3. Give two examples of how you think consumerism may negatively affect society. / ''n€., n«o. ~o 'ouy J~\}& s~~d~ o.""cr-m~\ ~mcun~ e~ m'6~ 4. Identify each habit as a habit of consumerism (C) or a habit of minimalism (M). · a. Buying something because your friend has it. C. v' b. Valuing experiences over things. r\.,,, c. The need to have the newest trend. c ✓ d. Recognizing that material goods do not lead to long-term happiness. M V. ' e. Buying items that are a good deal, even if they are not really needed. 1~zo c / f. Purchasing something you need after careful consideration.. ~( ,u t:\ t/ ( V2: 3/26/24 Page 2 of 25  I._:· Math 11, PC WCLN.c~ i 1.2 SIMPLE INTEREST 1. Indicate the meaning of each letter in the Simple Interes t Formula I = Prt In your own words, describe what princip al & interes t means (in financia l situations.) 1h(, pr,~ti~\-c.. 0¥-.d \n..'°-(s\- \'(\~'"'OC:,o..\ s,\\Jo-.ro~ 1~ tho-le- {'""' t\C..\p\-t. ,s -\,\-\~ (!)r~(Y' \ f>~ ol Qr,\C\.. )t\. \" oQ \ 1 - ~ ~- \ ~D bC>'t'n> OJ i'r , c,.. O Q..t\ ~ u \'~~~ \- 's¥o~ o..d d-t ci, ~ or9<.~~u 3. Calculate the amoun t of Simple Interest charged (I) and the total amoun Ii t to be paid at the end of the loan period (A) for each example below. Show your work in the space provided. vf a. Principal: $750 Interest Charged,: 11.l ':\J Annual Interes t rate: 6.5% Total to be paid:'..$.9~,5. \ ,..._ A ~"f~ ~.br ; t~~er iod:4y ea,s -r,,- ,50 ,b.!)(. 4. ~@ ~ ·. ~._, ~~.:'-~, -¥ :. · _~ ~. :[ }1 q.5, · T=~Rl........ '' I Principal: $4500 Interes t Charged: ____ 3"qt.l'\S«' ) Leasing L\~,\-eJ ~,\om6 °" ·h ·· r , ·- ,i ,- :,;\~. ;:. ~ 510 } " ~00.: tJS '3~- 00 -Pi~< fw (" cB.: 30 -::.s,· I3'!t).oo t 6 0 '00 "' It, \4- 30.00. Ir '. - ·.;.I \4.30 ob -q - · : 'X "'300 t ~O ·:,t.. $. 556 -t=s·)l:"6 l ~~ "" s ~ · · - ·,, ) ,Jlfo. Using the Average Daily Balance you calculated in the previous question, determine how much interest Julia is charged for April if her credit card has a 22% interest rate. I~P~1 -..1.,::: tC>'< A~'C'-"\\ ·Y\u T ~~3).';}Q%~3b5~3o ~D \o..\ 'x) (),.\°'n c.~ "l -= ~ -' ,s~ J"t ~ °'5 '$.)~ :~ ) V2: 3/26/24 Page 8 of 25  Math 11, PC ~ ~ Of the loans mentioned in the course, which type Is the most expensive and should only be used in an emergency? \ Th-e_, ,-no S~ -~-~.q:,.e.- 'a )~\I JXi? yearly. fJ; ~ C.. \ $1200 invested for 9 years at 4% A =\?.00 (l+~ )~ compounded semi-annually. \ ':)Q C) ( \.C> 'l. ,. l 'dS\,'6~ Daily compounding of a $250 A = ':>SG (l+e>.\'6 3b'i ,,.~ ·i ) loan for 9 weeks at 18%.... ' Page 12 of 25 V2: 3/26/24  ~- Math 11, PC WCLN./J. 3. Determine the total value of an Investment of $10 000 if Interest is paid at 3.2% per year compounded semi-annually for two years. layout all work. Pv \ ~ (1- ,.g,~~G.-p)J.. ' :,:' A :::~e>,coC:> (t6\~lt Pl-::.~\()' lo S5, S d J 4. Determine how much Jon owes for an overdue credit card bill of $5000 charging at 18% after one year if interes~~~~ ounded daily. layout all work. ~.fr-qc:rol'l+D, \~)Jbf> ·A~~S;\eaJ;i{t / 5. Calculate how much a $5000 deposit would be worth at the end of 5 years if the rate of interest on the deposit was 4.3% compounded weekly. layout all work. A-=- s,~(1.\-C.43 )E,J !,t:'Jbo ~!1.o· \q~{1b S? ✓ V2: 3/26/24 Page 13 of 25 Math 11, PC 6. calculate the total amount your GIC investment would be worth if you invested $3000 at a rate of 2.6% compounded quarterly for 4 years. Layout all work. p.-:.3, cx:,e (:1. -\-D. 0?6?) 4 (( t-. \b ~ l\ ✓ A-=-3' 3'd-7.bS 7. Calculate how much interest is earned on a deposit of $10000 after 10 years if interest was paid at 5.5% per year compounded monthly. Layout all work. (>J-:. \bpOO ( 1 ~ ().oS Sj 1J \C> j, \~() ~ A-:: \7' 3 \b. 7.b -- , \ 'o D00 ~-=-~,3'16.lb ✓ 8. Determine how much Tracey would have to deposit to have $10000 after 10 years of annual ( compounding at 7% per year. Layout all work. ( \0 \0/:CA}-;. ? , ,~.(!)\. lo,~-=- i! (\.~,, ~ : · \_l 0.961\S'?J};'"':' ( \,C\ ,s,3) t;'o~3.l\9:: P V2: 3/26/24 Page 14 of 25.,.c ~ Math 11, PC WCLN.cai -j , n -..'\J, ~ C)O\J v- f> 6 c...~\-- ~~ \'(\ ~ ~,\ yr;e,().\ ~-