Terminology
This is known as the rate of change, rise/run, or m
What is slope?
Start here when graphing a coordinate point, such as (-3,0)
What is the origin?
Jolly Jiffer Peanut Butter cost $3.79 for a small jar last year. This year the jar costs $4.59. Determine the inflation rate, to the nearest tenth percent.
What is 82.6%
This type of expense remains the same each month
The b of y = mx + b
What is y-intercept?
Graph this point first when graphing a linear equation
What is the y-intercept?
Example: A set of stamps worth $225: asset or liability
What is an asset?
This expense tends to be variable, changing from month to month
What is a living expense?
This equation forms a straight line
What is a linear equation? OR
What is y= mx + b?
Identify the slope in y = -3x+1
What is -3?
Asset or liability: a car loan payment
What is (a) liability?
Of the expenses listed, this one is a fixed expense: $185 on your electric bill, $65 on your cell phone bill, and $123 on your car loan.
What is the car loan?
The sum of assets minus the sum of liabilities
What is net worth?
The linear equation, given the slope and y-intercept, m= -1/2 and b = -3.
What is y = -1/2x - 3?
Determine the total assets if Jean has a total net worth of $1435 and liabilities of $487.
What is $1922?
DAILY DOUBLE:
These amounts are spent on gasoline for the past four months: $67, $78, $53, $89. Determine what you should budget for gasoline this month.
What is $71.75?
A plan in which you determine how your money will be spent weekly or monthly
What is a budget?
The equation of the line (See slide).
What is y = 3x -1?
Tommy's calculations for his net worth: Net Worth = $321 - $350 = -$29. Determine what the negative net worth means.
What is Tommy's liabilities are greater than his assets.
What is $1,820?