Exchange
A Stanley cup costs $45 USD. How much is this in Canadian, if 1 USD = 1.36 CAD?
*Round to nearest cent: 0.01*
45 x 1.36 = 61.2
$61.20 CAD
A bank has a $20 one-time registration fee for opening an account, and then charges $4 a month. Create an equation to represent the cost of this account.
y = total cost
x = # of months
y = 4x + 20
A lunch costs $24.80.
With 13% tax, what is the total bill?
*Round to the nearest cent: 0.01*
0.13 x 24.80 = 3.224
Tax: $3.22
Lunch + tax: 24.80 + 3.22 = 28.02
The bill comes to $28.02.
Arosha invests $4,000 in Ferrari.
Each year, she makes 2% interest.
How much is Arosha's investment worth, after 3 years?
1 year of interest: 0.02 x 4,000 = $80
3 years of $80 interest: 3 x 80 = $240
Interest + investment: $240 + 4,000 = $4,240.
Arosha's investment will be worth $4,240.
What currency is used in France?
Euros
A flight to Nashville costs $396.50 USD. How much is this in CAD if 1 USD = 1.36 USD?
396.50 x 1.36 = 539.24
$539.24 CAD
Aryan gets a part time job at Dollar Tree. They give him a $100 signing bonus, and pay him $18/hour.
His first paycheque includes the signing bonus and 30 hours of work. How much should Aryan expect to see on his paycheque (before taxes are taken off!)?
y = 18x + 100
y = 18(30) + 100
y = 540 + 100
y = 640
Aryan should expect a $640 paycheque.
Regular price for a new pair of boots is $180.
Right now, there is a 20% off sale.
How much will the boots cost right now?
20% of $180: 0.20 x 180 = 36
Discount: $36
Regular price, minus the discount: 180 - 36
Sale price: $144
Right now the boots would cost $144.
Shane invests $10,000 into Bauer.
He makes 1.5% interest each year.
How much will Shane's investment be worth after 6 years?
1 year interest: 0.015 x 10,000 = $150
6 years of $150 interest: 6 x 150 = $900
Interest + investment: 900 + 10,000 = $10,900
Shane's investment will be worth $10,900.
What is the name of a loan, used to buy a house?
Mortgage
Samantha brings 2 Canadian $100 bills to the bank, and asks to exchange for American money. How much cash should she expect, if 1 CAD = 0.73 USD?
200 x 0.73 = 146
She should expect $146 USD.
What does it mean to "deposit" money?
How does it affect the amount of money in a bank account?
It means to "add to", "put in," or "contribute", money into an account.
It increases the amount of money in a bank account.
Maddy got her nails done, which costs $80.
Maddy was really happy with the service, so she decides to give an 18% tip.
What would Maddy's total cost be, after adding an 18% tip?
*Round to the nearest cent: 0.01*
18% of $80: 0.18 x 80 =14.4
Tip: $14.40
Total: $80 + 14.40 = $94.40
The total cost would be $94.40.
Emma borrows $40,000 from the bank to buy a car. The bank will charge her 4% interest each year, on a 6 year financing plan.
What is the total amount Emma owes the bank?
4% of $40,000: 0.04 x 40,000 = $1,600
4 years of $1,600 interest: 4 x 1,600 = $6,400
Interest + price of car: $6,400 + 40,000 = 46,400
Emma's total loan is for $46,400.
Name a country/currency, that has a value that is LESS than the Canadian dollar.
1 CAD > 1 ____
Turkish Lira
Swedish Krona
Sri Lankan Rupee
Russian Ruble
New Zealand Dollar
Mexican Peso
Japanese Yen
Israeli Shekel
Iranian Rial
Indian Rupee
Hong Kong Dollar
Chinese Yuan
Australian Dollar
(+ more)
Kineret is shopping in London, and is considering buying a pair of earrings for £57.65 pounds. Before she decides, she wants to figure out how much this will cost her in CAD, when 1 pound = 1.73 CAD.
How much is £57.65 in CAD?
*Round to the nearest cent: 0.01*
57.65 x 1.73 = 99.7345
The earrings will cost Kineret $99.73 CAD.
What does it mean to "withdraw" money?
How does it change a bank account balance?
It means to "take out" or "remove" money from the account.
It decreases the money left in the account.
Roni opens a pancake catering business, to save up for a car. His total salary for the year is $36,000 - the government takes 8% of his earnings for taxes.
How much is Roni's take-home salary for the year?
8% of 36,000: 0.08 x 2,880
Taxes: $2,880
$36,000 - $2,880 = $33,120
Roni's take-home pay is $33,120.
Dylan wins $4,000,000 from a lottery.
He puts half of the money into a savings account, with a 2% annual interest rate.
How much money will the account have in 10 years?
Half of 4,000,000 = 2,000,000
2% of 2,000,000: 0.02 x 2,000,000 = 40,000
10 years of interest: 10 x 40,000 = 400,000
Interest + deposit: 400,000 + 2,000,000
Dylan's savings account will have $2,400,000 after 10 years.
A school bus driver gets paid approximately $42,000 in a year.
4% of their money goes to taxes.
What is the monthly take-home pay, for this bus driver?
4% of 42,000 = 0.04 x 42,000 = $1,680
Yearly take-home: 42,000 - 1,680 = $40,320
Salary ÷ 12 months: 40,320 ÷ 12 = $3,360
The bus driver gets $3,360 each month.
While in Spain, Isabella is considering buying a new bottle of her favourite perfume that costs €62 euros. At home, she knows it costs $80 CAD. If 1 CAD = 0.68 euros, where is the perfume less expensive?
How many euros is $80 CAD?
80 x 0.68 = 54.4
80 CAD = €54.40 euros, which is less expensive than the bottle €62 Isabella is looking at. It is less expensive in Canada.
Bank A offers a bank account, where you pay $120 to open the account, but there is NO MONTHLY FEE.
Bank B offers a bank account, with NO opening fee, but a $10 monthly fee.
At first, Bank B is less expensive. But after how many months, does Bank A become a better deal?
Bank B charges $10 each month. After 12 months, the account at Bank B will cost $120. After that, Bank A is less expensive - because Bank B will keep charging $10: $130, $140, $150... while Bank A's price never goes past $120.
After 12 months (1 year) Bank A is the less expensive option.
Issie is buying a new hockey jersey.
Sportchek has the jersey, regular price is $280 but there is a 15% off sale.
Lids also has the jersey, regular price is $240 but is not on sale.
Where will Issie find the jersey for a lower price?
15% of $280: 0.15 x 280 = 42
Discount: $42
Sportchek: $280 - $42 = $238
Issie will find a lower price at Sportchek ($238 < $240).
Jesse invested $2,500 into a gaming company.
After 1 year, his investment earned $75 in interest.
What percent interest is his investment earning?
75/2,500 x 100 = 3
Jesse is earning 3% interest.
Liam and Amelia each bought a car for the exact same price, at the exact same time. They both had to borrow money, and are paying the bank back monthly.
Liam's monthly payment is less than Amelia's.
What can you infer about Amelia/Liam's car loans?
Liam is paying off his loan more slowly, which means it will take him longer to pay off his loan.
Amelia chose a shorter term, which means she most likely is paying a lower interest rate.
Liam is borrowing money for longer, which means he most likely is paying a higher interest rate.
Liam will end up paying more for his car than Amelia.