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Money Management (NL)

Subject Area: Mathematics

Link(s) to the Newfoundland and Labrador Mathematics Curriculum:
  • 7N2 Demonstrate an understanding of the addition, subtraction, multiplication and division of decimals to solve problems.
    • 7N2.1 Solve a given problem involving the addition of two or more decimal numbers.
    • 7N2.2 Solve a given problem involving the subtraction of decimal numbers.
    • 7N3 Solve problems involving percents from 1% to 100%
    • 7N3.1 Express a given percent as a decimal or fraction.
    • 7N3.3 Determine the answer to a given percent problem where the answer requires rounding, and explain why an approximate answer is needed, e.g. total cost including taxes.
  • 7N5 Demonstrate an understanding of adding and subtracting positive fractions and mixed numbers, with like and unlike denominators, concretely, pictorially and symbolically (limited to positive sums and differences.)
    • 7N5.1 Model addition of positive fractions, using concrete representations, and record symbolically.
    • 7N5.2 Determine the sum of two given positive fractions with like denominators.
    • 7N5.3 Simplify a given positive fraction by identifying the common factor between the numerator and denominator.
    • 7N5.4 Determine a common denominator for a given set of positive fractions.
    • 7N5.5 Determine the sum of two given positive fractions with unlike denominators.
Brief Overview of the Lesson:

The students will play a game on the Internet called “Math at the Mall.” This real life simulation game will give the students practice solving a variety of problems. They will visit a bank, a café, a toy store, and a gym. Using numeric operations, they must find percentages, use fractions, calculate tax, compare prices and make the correct change.

Estimated Time Required for Implementation:

One class period

Materials Needed:

Computers

Suggested Implementation Strategy:
  • Ask your students to raise their hands if they like going a mall.
  • Tell your students to find a partner and open the following web link.
  • They are to choose a character and spend the class period visiting a virtual mall. http://www.mathplayground.com/mathatthemall1.html
Options for Consideration:
  • Students may do this activity alone.
  • The teacher may use a Smart Board and make this a class activity.
Possible Links to the Home Program:
  • Age 11–13 — What Kind of Spender Are You?
  • Age 14–16 — Tracking Expenses and Managing Money
Extended Learning Opportunities: