Gr. 5 Ontario Financial Literacy Final Jeopardy

Final Jeopardy

54000

The Scenario:

You have a total budget of $50.00. You need to buy two things: Pizza and a New Controller.

1. The Pizza Deal:  Store A sells 1 large pizza for $12.00. Store B sells 2 medium pizzas for $20.00.

   • You decide to buy 1 large pizza from Store A.

2. The Controller:  The controller costs $30.00 on the shelf.

3. The Math:

   • Calculate the Subtotal (Pizza + Controller).

   • Calculate the 13% HST on that subtotal.

   • Calculate the Final Total.

The Questions:

• Part A: What is the Final Total?

• Part B: Do you have enough money in your $50.00 budget?

• Part C: If you are short on cash, but your bank account has the money, should you use Debit or Credit? Explain.

🔑 The Answer Key

• Subtotal: $12.00 + $30.00 = $42.00

• Calculating Tax 

  • 13% = $5.46

• Final Total: $42.00 + $5.46 = $47.46

• Budget Check: Yes, you have enough! $50.00 - $47.46 = $2.54 left over.

• Payment Method: Debit. (Since you have the money in the bank, Debit pays it off instantly with no interest. Credit would risk interest charges if not paid back).