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General Information

Number: MA.912.FL.1

Title: Build mathematical foundations for financial literacy.

Type: Standard

Subject: Mathematics (B.E.S.T.)

Grade: 912

Strand: Financial Literacy

Related Benchmarks

This cluster includes the following benchmarks

Code

Description

Extend previous knowledge of operations of fractions, percentages and decimals to solve real-world problems involving money and business.

Clarifications:
Clarification 1: Problems include discounts, markups, simple interest, tax, tips, fees, percent increase, percent decrease and percent error.

Extend previous knowledge of ratios and proportional relationships to solve real-world problems involving money and business.

Solve real-world problems involving weighted averages using spreadsheets and other technology.

Related Access Points

This cluster includes the following access points.

Access Points

Access Point Number	Access Point Title
MA.912.FL.1.AP.1:	Solve real-world problems involving money using percentages and decimals.
MA.912.FL.1.AP.2:	Solve simple real-world problems involving money using ratios or proportions.

Related Resources

Vetted resources educators can use to teach the concepts and skills in this topic.

Lesson Plans

Name	Description
To Audit, or Not?:	Students will take on the role of an auditor to assist an auditing firm in determining which bank branches need a full audit performed. Students will fill in missing transactions, review bank statements, and use their knowledge of the Bank Secrecy Act to determine the order in which the auditing firm should complete full audits in this model eliciting activity. Model Eliciting Activities, MEAs, are open-ended, interdisciplinary problem-solving activities that are meant to reveal students’ thinking about the concepts embedded in realistic situations. Click here to learn more about MEAs and how they can transform your classroom.
Prom Preparations:	Students will make decisions concerning features of their prom. Students will perform operations with percent and decimals to solve real-world problems involving money. Model Eliciting Activities, MEAs, are open-ended, interdisciplinary problem-solving activities that are meant to reveal students’ thinking about the concepts embedded in realistic situations. Click here to learn more about MEAs and how they can transform your classroom.
Efficient Storage:	The topic of this MEA is work and power. Students will be assigned the task of hiring employees to complete a given task. In order to make a decision as to which candidates to hire, the students initially must calculate the required work. The power each potential employee is capable of, the days they are available to work, the percentage of work-shifts they have missed over the past 12 months, and the hourly pay rate each worker commands will be provided to assist in the decision process. Full- and/or part-time positions are available. Through data analysis, the students will need to evaluate which factors are most significant in the hiring process. For instance, some groups may prioritize speed of work, while others prioritize cost or availability/dependability. Model Eliciting Activities, MEAs, are open-ended, interdisciplinary problem-solving activities that are meant to reveal students’ thinking about the concepts embedded in realistic situations. Click here to learn more about MEAs and how they can transform your classroom.
Balanced Budgets:	Students will create and format spreadsheets to build a balanced budget for personal and business situations using income and expenses, in this lesson.
The Cost of Credit: Financing an Automobile:	Students will play a Scratch program and make choices to simulate buying and financing an automobile to explore the cost of credit, in this lesson plan.