Lesson

In previous lessons we have practiced addition and subtraction with large numbers . Let's practice with the following problem.

Find the value of 6396 - 129.

Worked Solution

Idea summary

We can use a vertical algorithm to add and subtract numbers.

How can we work out how much change we need to receive, when we buy something? Let's see some strategies to help.

When out shopping Luigi buys some groceries for \$17.70 and pays with a \$20 note.

Which of the following could be the change he gets?

A

B

Worked Solution

Idea summary

To find change we can either:

Subtract the price from the amount paid.

Count up from the price to the amount paid.

How does a bank statement work? Let's find out in this video.

A withdrawal is:

A

money taken out of a bank.

B

the amout of money in a bank account at any time.

C

money put into a bank account.

Worked Solution

Idea summary

A deposit is when we put money into our bank account.

A withdrawal is when we take money out of our bank account.

In this video we work out if we have budgeted enough for the end of year party.

Here is Sarah’s weekly budget.

a

Complete the table below:

Income | Expenses | ||
---|---|---|---|

\text{Wages} | \$80.00 | \text{Phone} | \$7.50 |

\text{Umpiring} | \$35.00 | \text{Bus ticket} | \$15.00 |

\text{Entertainment} | \$24.60 | ||

\text{Food} | \$43.35 | ||

\text{Total} | \$ ⬚ | \text{Total} | \$90.45 |

Worked Solution

b

Sarah saves any money that she has not spent. How much does Sarah save each week?

Worked Solution

Idea summary

When we need to work to a budget, we need to make sure our expenses (money we spend) are not more than our income (money we receive).

Create simple financial plans