You & Your Money: Financial Algebra Course Syllabus · 2016-03-30 · You & Your Money: Financial...

You & Your Money: Financial Algebra Course Syllabus

It was a conscious decision to begin this course with the third chapter of the text based on the perceived interests and needs of the students. This course requires use of technology, including scientific and graphing calculators. It is suggested that the first several days of the class be spent reviewing calculator functions, including parentheses and exponential operations. It is also recommended that class time be dedicated to allowing students to work in small groups on assigned problems, due to the difficult and complex nature of some problems and the potential lack of available technology outside the school. While technology is frequently used for calculations, students need to be constantly reminded to write down operations before entering them in the calculator as a method to check their work and to communicate their processes. While not included in the syllabus, there are many opportunities for additional activities including but not limited to:

• Guest speakers – from banks, credit unions, mortgage companies, etc. • Computer simulations – purchasing autos or homes, tax preparation sites • Credit score web sites • Auto dealers and insurance agencies • Tax preparers • Human resources professionals and others in charge of hiring

This syllabus contains a brief outline of topics covered throughout the course. The actual math standards covered will be found in the curriculum document. Chapter 3: Banking Services (approximately 20 days) Banks offer a complete array of paper and electronic services that make access to money easy. In this chapter, students learn the function and computation of interest in short-term, long-term, single deposit and periodic deposit accounts. 3-1 Checking Accounts (2 days) Objectives • Understand how checking accounts work. • Complete a check register. Key Terms Automatic teller machine (ATM), canceled, check, check clearing, checking account, check register, credit, deposit, deposit slip, direct deposit, drawer, debit, electronic funds transfer (ETF), endorse, hold, insufficient funds, interest, joint account, overdraft protection, payee, personal identification number (PIN), maintenance fee, single account 3-2 Reconcile a Bank Statement (2 days)

Objectives • Reconcile a checking account with a bank statement by hand and by using a spreadsheet. Key Terms Account number, balancing, bank statement, ending balance, outstanding checks, outstanding deposits, reconciling, starting balance, statement period 3-3 Savings Accounts (2 day) Objectives • Learn the basic vocabulary of savings accounts. • Compute simple interest using the simple interest formula. Key Terms Certificate of deposit (CD), interest, interest rate, maturity, minimum balance, money market account, principal, savings account, simple interest, simple interest formula, statement savings 3-4 Explore Compound Interest (2 days) Objectives • Understand the concept of getting interest on your interest. • Compute compound interest using a table. Key Terms Annual compounding, compound interest, crediting, daily compounding, quarterly compounding, semiannual compounding 3-5 Compound Interest Formula (3 days) Objectives • Become familiar with the derivation of the compound interest formula. • Make computations using the compound interest formula. Key Terms Annual percentage rate (APR), annual percentage yield (APY), compound interest formula 3-6 Continuous Compounding (3 days) Objectives • Compute interest on an account that is continuously compounded. Key Terms Continuous compounding, continuous compound interest formula, exponential base (e), finite, infinite, limit 3-7 Future Value of Investments (3 days) Objectives • Calculate the future value of a periodic deposit investment. • Graph the future value function. • Interpret the graph of the future value function. Key Terms

Biweekly, future value of a periodic deposit investment, future value of a single deposit investment, periodic investment 3-8 Present Value of Investments (3 days) Objectives • Calculate the present value of a single deposit investment. • Calculate the present value of a periodic deposit investment. Key Terms Present value, present value of a periodic investment, present value of a single deposit investment

Chapter 4: Consumer Credit (approximately 20 days) The understanding and use of credit is extremely important to the consumer since actions taking in the present can have long standing ramifications in the future. Becoming familiar with credit terminology and regulations is critical in making wise credit decisions. Credit comes at a price and in this chapter students learn how to use and manipulate the credit formulas in order to make wise credit choices that fit their needs, current financial situation, and future goals. 4-1 Introduction to Consumer Credit (2 days) Objectives • Become familiar with the basic vocabulary of credit terms. • Become familiar with types of lending institutions. • Compute finance charges for installment purchases. Key Terms Asset, credit, creditor, credit rating, credit reporting agency, debtor, down payment, earning power, FICO score, finance charge, installment plan, interest 4-2 Loans (3 days) Objectives • Read monthly payments from tables. • Compute monthly payments using a formula. • Compute finance charges on loans. Key Terms Annual percentage rate, balloon payment, collateral, cosigner, lending institution, life insurance, prepayment penalty, prepayment privilege, principal, promissory note, wage assignment, wage garnishment 4-3 Loan Calculations and Regression (2 days) Objectives • Calculate the present value of a single deposit investment. • Calculate the present value of a periodic deposit investment. Key Terms Cubic function, cubic regression, monthly payment calculator, natural logarithm

4-4 Credit Cards (2 days) Objectives • Become familiar with the basic vocabulary of credit cards. • Compute an average daily balance. Key Terms Average daily balance, charge card, credit card, debit card, Electronic Funds Transfer Act, Fair Credit Billing Act, Fair Debt Collection Practices Act, impulse buying, mean, revolving charge account, Truth-In-Lending Act 4-5 Credit Card Statement (2 days) Objectives • Identify and use the various entries in a credit card statement. Key Terms Account number, APR, available credit, average daily balance, billing cycle, billing date, credit card statement, credit line, debit/credit, finance charge, late charges, minimum payment, monthly periodic rate, new balance, new purchases, number of days in billing cycle, payments/credits, payment due date, previous balance, transactions 4-6 Average Daily Balance (3 days) Objectives • Calculate the average daily balance using the credit calendar. • Calculate the finance charge using the credit calendar. Key Terms Average daily balance, billing date, credit calendar

Chapter 5: Automobile Ownership (approximately 25 days) Whether it is a used or new car, ownership requires an understanding of the mathematics that models purchasing, insuring, depreciating, and driving that car. 5-1 Classified Ads (2 days) Objectives • Compute the cost of classified ads for used cars. • Compute the cost of sales tax on automobiles. Key Terms Cusp, domain, piecewise function, sales tax, split function 5-2 But or Sell a Car (2 days) Objectives • Compute the mean, media, mode, range, quartiles, and interquartile range. Key Terms Arithmetic average, ascending order, bimodal, data, descending order, interquartile range (IQR), lower quartile, mean, measures of central tendency, outlier, quartiles, range, resistant, skew, statistics, subscripts, median, outlier, upper quartile

5-3 Graph Frequency Distributions (3 days) Objectives • Create a frequency distribution from a set of data. • Use box-and-whisker plots and stem-and-leaf plots to display information. • Use linear regression to negotiate the purchase or sale of a car. Key Terms Box-and-whisker plot, boxplot, frequency, frequency distribution, modified boxplot, stem-and-leaf plot 5-4 Automobile Insurance (3 days) Objectives • Learn about different types of automobile insurance coverage. • Compute insurance costs. • Compute payments on insurance claims. Key Terms Actuary, automobile insurance, bodily injury liability (BI), car rental insurance, claim, collision insurance, comprehensive insurance, deductible, emergency road service insurance, liable, liability insurance, negligent, no-fault insurance , personal injury protection (PIP), premium, property damage liability (PD), surcharge, uninsured/underinsured motorist protection insurance (UMP) 5-5 Linear Automobile Depreciation (3 days) Objectives • Write, interpret, and graph a straight line depreciation equation. Key Terms

Appreciate, depreciate, slope, straight line depreciation, straight line depreciation equation 5-6 Historical and Exponential Depreciation (2 days) Objectives • Write, interpret, and graph an exponential depreciation equation. • Manipulate the exponential depreciation equation in order to determine time, original price, and depreciated value. Key Terms Dollar value, exponential decay, exponential depreciation, historical data, historical depreciation 5-7 Driving Data (3 days) Objectives • Write, interpret and use the distance formula. • Use the formula for the relationship between distance, fuel economy, and gas usage. Key Terms Currency exchange rate, distance formula, electronic odometer, English Standard

System, fuel economy measurement, kilometers per liter, mechanical odometer, Metric System, miles per gallon, odometer, speedometer, trip odometer 5-8 Driving Safety Data (2 days) Objectives • Calculate reaction time and distance in the English Standard System. • Calculate and use the braking distance in both English Standard and Metric Systems. • Calculate and use the total stopping distance in both the English Standard and Metric Systems. Key Terms Braking distance, reaction distance, reaction time, thinking time, total stopping distance 5-9 Accident Investigation Data (3 days) Objectives • Determine the minimum skid speed using the skid mark formula. • Determine the minimum skid speed using the yaw mark formula. Key Terms Accident reconstructionist, anti-lock braking system (ABS), braking efficiency, chord, drag factor, middle ordinate, shallow skid mark, skid distance, skid mark, skid speed formula, yaw mark

Chapter 6: Employment Basics (approximately 15 days) Employment is an integral part of our daily lives. Knowing how salaries are computed, benefits bestowed, and wage taxes calculated allow the employee the opportunity to make smart employment choices both before accepting a job and during the period of employment in that job. 6-1 Look for Employment (2 day) Objectives • Compute periodic salary based on annual contract salary. • Interpret abbreviations in classified ads. • Express classified ad prices as piecewise functions. Key Terms Benefits, discount, employment agency, fee paid, Form W-4: Employee’s Withholding Allowance Certificate, resume 6-2 Pay Periods and Hourly Rates (2 days) Objectives • Compute weekly, semimonthly, and biweekly earnings given annual salary. • Compute hourly pay and overtime pay given hourly rate. Key Terms Biweekly, direct deposit, double-time pay, gross pay, hourly rate, monthly pay, overtime hours, overtime hourly rate, semimonthly, time-and-a-half overtime,

weekly pay 6-3 Commissions, Royalties, and Piecework Pay (2 days) Objectives • Compute pay based on percent commission. • Compute piecework pay. • Understand advantages and disadvantages of pay based on production. Key Terms Commission, pieceworker, piecework rate, royalty 6-4 Employee Benefits (2 days) Objectives • Understand and calculate the value of certain employee benefits. Key Terms Base period, childcare leave, employee benefits, family health care, individual health care, insurance, paid vacation time, paid holiday time, pension, retirement plans, stock ownership plans, unemployment insurance, worker’s compensation 6-5 Social Security and Medicare (3 days) Objectives • Compute paycheck deductions for Social Security. • Compute paycheck deductions for Medicare.

Key Terms Federal Insurance Contributions Act, FICA tax, maximum taxable income, Medicare tax, Social Security, Social Chapter 7: Income Taxes (approximately 25 days) The Federal income tax laws and forms need not be a maze of complexities. In this chapter, students see how mathematics can be used to model and understand our progressive tax system. Through the creation of functions and the analysis of graphic representations of those functions, students gain insight into their income reporting and tax paying obligations. 7-1 Tax Tables, Worksheets, and Schedules (3 days) Objectives • Express tax schedules algebraically. • Compute Federal income taxes using a tax table and tax schedule. Key Terms Head of household, Income tax, Internal Revenue Service, married filing jointly, married filing separately, property tax, qualifying widower, sales tax, tax, taxable income 7-2 Modeling Tax Schedules (3 days) Objectives • Construct income tax graphs using piecewise functions derived from tax

schedules. Key Terms Flat tax, progressive tax system, proportional tax, regressive tax schedule, tax bracket 7-3 Income Statements (2 days) Objectives • Interpret and use the information on a pay stub, W-2 form and 1099 form.. Key Terms Cafeteria plan, flexible spending account, Form 1099, Form W-2, gross pay, net pay, paycheck, pay stub, take-home pay, tax-deferred contribution, withholding tax 7-4 Forms 1040EZ and 1040A (4 days) Objectives • Complete Form 1040EZ. • Complete Form 1040A. Key Terms Dependent, exemption, Form 1040A, Form 1040EZ, Form 1040, itemize, standard deduction 7-5 Form 1040 and Schedules A and B (6 days) Objectives • File Form 1040 with itemized deductions. • Understand the difference between a tax credit and a tax deduction. Key Terms Form 1040, Schedule A-Itemized Deductions, Schedule B-Interest and Dividend Income, tax avoidance, tax credit, tax evasion, voluntary compliance.

Chapter 8: Independent Living (approximately 15 days) A “place of my own to call home” comes in many forms and with varying degrees of financial responsibilities. In this chapter, students work their way through the mathematics that models moving, renting, and purchasing a place to live. 8-1 Find a Place to Live (3 days) Objectives • Calculate the affordability of a monthly rent. • Determine the relationship between square footage and monthly rent. • Determine lease signing costs. • Calculate moving expenses.. Key Terms Apartment, application deposit, evict, expire, furnished, landlord, security deposit, single-family home, square footage, and tenant. 8-2 Read a Floor Plan (3 days)

Objectives • Compute the perimeter and the area of a polygon. • Compute areas of irregular regions. • Compute volumes of rectangular solids.. Key Terms Apothem, area, British Thermal Units (BTUs), congruent, floor plan, Monte Carlo Method, perimeter, volume. 8-3 Mortgage Application Process (3 days) Objectives • Compute the monthly cost of paying for a house. • Understand the research thatis necessary before you purchase a home.. Key Terms Assessed value, adjustable-rate mortgage, back-end ratio, balloon mortgage, debtto- income ratio, down payment, escrow, fixed-rate mortgage, foreclose, front-end ratio, homeowner’s insurance, interest-only market value, mortgage, mortgage, property tax, real estate tax. 8-4 Purchase a Home (4 days) Objectives • Estimate closing costs. • Create an amortization table for a fixed-rate mortgage. • Create an amortization table for a fixed-rate mortgage with extra payments. • Investigate the amortization table for an adjustable rate mortgage. Key Terms Adjustment period, arrears, attorney fee, closing, closing costs, discount points, earnest money deposit, hybrid ARM, initial rate, non-recurring costs, origination points, prepaid interest, title, title search, transfer tax.

8-5 Rentals, Condominiums, and Cooperatives (3 days) Objectives • Compute costs of purchasing a cooperative or condominium. • Understand the advantages and disadvantages of different forms of homes. Key Terms Board of directors, condominium, cooperative, co-op apartment, equity, landominium, maintenance fee

Chapter 9: Planning for Retirement (approximately 15 days) For most high school students, the notion of retirement is so far in the distant future that many rarely consider the fact that actions they take now can affect how they will live once they stop working. The focus of this chapter is on the fiscal plans that workers can make years ahead of their retirement date. This involves a detailed study of retirement savings plans, both personal and federal, employee pension programs, and life insurance.

9-1 Retirement Income from Savings (2 days) Objectives • Calculate future values of retirement investments that are both single deposit and periodic. • Compare the tax savings by making contributions to pre-tax retirement savings accounts. • Calculate an employer’s matching contribution to a retirement account. Key Terms 401K, 403B, after-tax investments, individual retirement account (IRA), Keogh plan, retirement, Roth IRA, semi-retired, tax-deferred, tax-exempt, traditional IRA 9-2 Social Security Benefits (3 days) Objectives • Understand the benefits paid by Social Security. • Understand how benefits are computed. • Compute Federal income tax on benefits that are paid under Social Security. Key Terms Full-retirement age, Old-Age, Survivors, and Disability Insurance (OASDI), Social Security benefit, Social Security credit, Social Security statement 9-3 Pensions (2 days) Objectives • Calculate pension benefits using various formulas. • Calculate pension benefits during and after vesting periods.. Key Terms Consumer Price Index (CPI), cost of living adjustment (COLA), deferred compensation, defined benefit plan, Employee Retirement Income Security Act, lump-sum payment, pension, Pension Benefit Guaranty Corporation, Pension Protection Act, qualified joint and survivor annuity, vested 9-4 Life Insurance (2 days) Objectives • .Compute the cost of different types of life insurance. • Understand the advantages and disadvantages of different types of life insurance.

Key Terms Beneficiary, cash value, decreasing term insurance, face value, group term life insurance, increasing term insurance, level term insurance, mortality table, permanent life insurance, premium, term life insurance, universal life insurance, variable life insurance, whole life insurance

Chapter 10: Prepare a Budget (approximately 15 days) This final chapter of the text calls upon the knowledge acquired in the preceding chapters in order to create, chart, and use a responsible personal budget.

10-1 Utility Expenses (2 days) Objectives • Compute the cost of electric, gas, oil and water for a home. • Compute the cost of using specific appliances for specific lengths of time. • Compute the time is takes an energy-saving appliance to pay for itself Key Terms Ccf, cubic foot, kilowatt-hour (kWh), meter, present reading, previous reading, utility, volume, watt, watt-hour 10-2 Electronic Utilities (2 days) Objectives • .Compute the cost of cell phone calls, text messaging, Internet service, and cable television. Key Terms Electronic utilities 10-3 Charting a Budget (3 days) Objectives • Create and use a budget check-off matrix. • Visualize and interpret a budget using a pie chart, a bar graph, a line graph, and a budget line graph.. Key Terms Bar graph, budget check-off matrix, budget line graph, budget matrix, column, electronic matrix, line graph, matrix, order of a matrix, pie chart, row, sector 10-4 Cash Flow and Budgeting (3 days) Objectives • Develop and interpret a cash flow chart. • Develop and interpret a frequency budget plan. • Develop and interpret a year-long expense budget plan.. Key Terms Assets, cash flow, cash-flow matrix, debt reduction plan, debt-to-income ratio, year-long expense budget plan, envelope accounting system, frequency budget plan, net worth,

Lorain City School District Scope, Sequence and Pacing Guides

CCSS Math You & Your Money: Financial Algebra

Math You & Your Money: Financial Algebra – Early 1st Quarter

Text Section

CCSS Domain Cluster Standard Statement Days Clear Learning Target Vocabulary Core

Resource

Additional Resource Assessment

3-‐1

A-‐SSE Algebra

Interpret the structure of expressions

Interpret expressions that represent a quantity in terms of its context

2

I can explain the functions of a checking account.

I can complete a check register.

Debit, credit, interest, check register,

Text, Section 3-‐1, pages 116-‐

122

Teacher’s Resource CD, Power Point

CD

Check Your Understanding, Extend Your Understanding, done in class;

Select Applications Problems and

assign

A-‐SSE Algebra

Write expressions in equivalent forms to solve

problems

Choose and produce an equivalent form of an

expression to reveal and explain properties of the quantity represented by the expression.

F-‐BF Functions

Build a function that models a

relationship between two quantities

Determine an explicit expression, a recursive process, or steps for calculation from a

context.

3-‐2 A-‐CED Algebra

Create equations that describe numbers or relationships

Rearrange formulas to highlight a quantity of interest, using the same reasoning as in solving

equations.

2

I can reconcile a checking account with a bank statement.

Reconcile, spreadsheet


130

Teacher’s Resource CD, Power Point CD

Check Your Understanding, Extend Your Understanding, done in class; Select Applications Problems and assign



Rearrange formulas to highlight a quantity of interest, using the same reasoning as in solving

equations.

2 I can compute simple interest using a formula

Interest, principal, compound interest, simple interest, annual


136





3-‐4

A-‐SSE Algebra


Interpret parts of an expression, such as terms, factors, and coefficients.

2

I can explain and compute compound interest


142


Check Your Understanding, Extend Your Understanding, done in class; Select Applications Problems and assign A-‐

SSE Algebra


Interpret complicated expressions by viewing one or more of their parts as a single entity. (For example, interpret P(1 + r)n as the product of P and a factor not depending on P.

3-‐5

A-‐SSE Algebra

Write expressions in equivalent forms to solve problems

Use the properties of exponents to transform expressions for exponential functions. For example the expression 1.15t can be rewritten as (1.151/12)12t ≈ 1.01212t to reveal the approximate equivalent monthly interest rate if the annual rate is 15%.

3

I can explain the derivation of the compound

interest formula and use it to compute compound 3interest.

Annual percentage rate, annual percentage yield


149



F-‐IF Functions

Analyze functions using different representations

Use the properties of exponents to interpret

expressions for exponential functions.

3-‐6 N-‐RN Number

& Quantity

Extend the properties of exponents to rational numbers

Explain how the definition of the meaning of rational exponents follows from extending the properties of integer

exponents to those values, allowing for a notation for radicals in terms of rational exponents.

3

I can compute interest on an account that is continuously compounded/

Limit, finite, infinite, exponential base, continuous compound interest formula


155





N-‐RN Number

& Quantity

Extend the properties of exponents to rational numbers

Rewrite expressions involving radicals and rational exponents using

the properties of exponents.

3-‐6

A-‐SSE Algebra


Interpret complicated expressions by viewing one or more of their parts as a single entity.

Same as above.

A-‐SSE Algebra


Choose and produce an equivalent form of an expression to reveal and explain properties of the quantity represented

by the expression.

3-‐7 F-‐IF Functions


Use the properties of exponents to interpret expressions for exponential functions.

3

I can calculate the future value of a periodic deposit

investment. I can graph the future value function.

I can interpret the future value

function.

Periodic deposit amount


160





3-‐8

F-‐IF Functions

Interpret functions that arise in applications in terms of the context

For a function that models a relationship between two quantities, interpret key features of graphs and tables in terms of the quantities, and sketch graphs showing key features given a verbal description of the relationship. Key features include: intercepts; intervals where the function is increasing, decreasing, positive, or negative; relative maximums and minimums; symmetries; end behavior; and periodicity

3

I can calculate the present value

of a single deposit

investment. I can calculate

the present value of a periodic deposit

investment.

Present value, single deposit

investment, periodic deposit

investment

Text, Section 3-‐8, pages 161-‐165


Check Your Understanding, Extend Your Understanding, done in class; Select Applications Problems and assign A-‐

SSE Algebra


Choose and produce an equivalent form of an expression to reveal and explain properties of the quantity represented by the expression.

A-‐CED Algebra


Rearrange formulas to highlight a quantity of interest, using the same reasoning as in solving equations.



F-‐IF Functions


Use the properties of exponents to interpret expressions for exponential functions.

Throughout this unit, as calculator computations become more complicated, time has been built in for reviewing functions, Especially important are the parentheses, exponential, fraction, and e functions. Extra time should also be allocated for students to work, in collaborative groups of 3 or 4, to complete assigned problems with

teacher guidance. The chapter assessment problems should be given to the students in advance, although the actual, graded work should be done in class. Students may work on the assessment problems outside class, in advance, but should not be allowed to utilize their work in class during the assessment.

This is an excellent opportunity to bring in a guest speaker from a bank or financial institution.

End Early 1st Quarter (25 Days)

9-‐171 selected problems



Math You & Your Money: Financial Algebra – Late 1st Quarter Text

Section CCSS Domain Cluster Standard Statement Days Clear Learning

Target Vocabulary Core Resource


4-‐1

A-‐SSE Algebra

Interpret the

structure of expressions

Interpret expressions that

represent a quantity in terms of its

context

2

I can compute finance charges for installment purchases.

Installment plan, finance charge, down payment, asset,

creditor, debtor,

algebraically



CD

Check Your Understanding, Extend Your Understanding,

done in class; Select Applications

Problems and assign

A-‐SSE Algebra

Write expressions

in equivalent forms to solve

problems

Choose and produce an equivalent form of an expression to reveal and explain properties of the

quantity represented

by the expression.

A-‐CED Algebra

Create equations that

describe numbers or relationships

Represent constraints by equations or

inequalities, and by systems of

equations and/or inequalities, and

interpret solutions as viable or nonviable options in a

modeling context.

F-‐BF Functions

Build a function that models a

relationship between two quantities

Determine an explicit expression, a recursive process,

or steps for calculation from a

context.



4-‐2

A-‐SSE Algebra

Interpret the


Use the structure of an expression to identify ways to rewrite it.

3

I can read monthly

payments from tables.

I can compute monthly

payments using a formula.

I can compute finance charges

on loans.

Promissory note, APR, monthly payment formula


Please take notice of keystrokes shown for the monthly payment formula on page 184 and wwalk through them with students.


CD



Problems and assign

A-‐SSE Algebra

Write expressions


problems

Use the properties of exponents to transform


F-‐IF Functions

Analyze functions using

different representat

ions

Use the properties of exponents to

interpret expressions for exponential functions

A-‐SSE Algebra

Interpret the


Interpret complicated expressions by

viewing one or more of their parts as a single entity.

F-‐LE

Linear and

Exponential Model

Construct and

compare linear and exponential models and

solve problems

Interpret the parameters in a

linear or exponential function

in terms of a context.

4-‐3 S-‐ID Statistics and

Probability

Summarize, represent,

and interpret data on two categorical

and quantitative variables

Fit a function to the data; use functions fitted to data to solve problems in the context of the

data.

3

I can calculate the present value of a single deposit investment.

I can calculate the present value of a periodic deposit investment.

Monthly payment calculator, natural logarithm,

cubic function, cubic

regression, equation



CD



Problems and assign



4-‐4

N-‐Q Number and

Quantity

Reason quantit-‐atively and use units to

solve problems

Use units as a way to understand problems and to

guide the solution of multi-‐step

problems; choose and interpret units consistently in formulas; choose and interpret the scale and the origin in graphs and data

displays. 3

I can compute an average daily balance.

Credit card, debit card, average daily balance, mean



CD



Problems and assign N-‐Q

Number and

Quantity


solve problems

Define appropriate quantities for the

purpose of descriptive modeling.

A-‐SSE Algebra

Interpret the




context

4-‐5

N-‐Q Number and

Quantity




displays.

2

I can identify and use the various entries in a credit card statement.

available credit, average daily balance, credit line,

finance charge, late

charges, minimum payment, monthly

periodic rate, new balance, previous balance,

transactions



CD



Problems and assign

A-‐SSE Algebra

Interpret the




context



4-‐6

N-‐Q Number and

Quantity


solve problems




displays.

3

I can calculate the average daily

balance using the credit calendar. I can calculate the finance charge using the credit

calendar.

Average daily balance, credit calendar



CD



Problems and assign

A-‐SSE Algebra

Interpret the




context

Time is again built into the calendar for students to collaborate on the assigned problems. The chapter assessment problems should be given to the students in advance, although the actual, graded work should be done in class. Students may work on

the assessment problems outside class, in advance, but should not be allowed to utilize their work in class during the assessment.

This is an excellent opportunity to bring in a guest speaker from a bank or credit union.

End Late 1st Quarter (20 days) Assessment 211-‐

215 select problems



Math You & Your Money: Financial Algebra – Early 2nd Quarter

Text Section CCSS Domai

n Cluster Standard Statement Days Clear Learning Target Vocabulary Core

Resource Additional Resource Assessment

5-‐1

A-‐CED Algebra


describe numbers or relationships

Create equations in two or more variables

to represent relationships between

quantities; graph equations on coordinate

axes with labels and scales.

2

I can compute the cost of classified ads

for used cars. I can compute the cost of sales tax on automobiles.

Cusp, domain, piecewise

function, sales tax, split function



Check Your Understanding, Extend Your Understanding, done in class; Select Applications Problems

and assign

F-‐IF Functions

Understand the concept

of a function and use function notation

Understand that a function from one set (called the domain) to another set (called the range) assigns to

each element of the domain exactly one element of the range. If f is a

function and x is an element of its

domain, then f(x) denotes the output of f

corresponding to the input x. The graph of f is the graph of the equation y = f(x).

F-‐IF Functions

Understand the concept

of a function and use function notation

Use function notation, evaluate functions for inputs in their domains, and interpret statements that use function

notation in terms of a context.



F-‐IF Functions


different represent-‐ations

Graph square root, cube root, and

piecewise-‐defined functions, including step functions and absolute value functions.

5-‐2

S-‐ID Statistics and

Probability


and interpret data on a single count or measure-‐

ment variable

Use statistics appropriate to the shape of the data distribution to compare center

(median, mean) and spread

(interquartile range, standard deviation) of two or more

different data sets.

2

I can compute the mean, media, mode, range, quartiles, and interquartile range.

Arithmetic average,

ascending order, bimodal, data, descending order,

interquartile range (IQR), lower quartile, mean, measures

of central tendency, outlier,

quartiles, range, resistant, skew,

statistics, subscripts,

median, outlier, upper quartile.




and assign


Probability



ment variable

Interpret differences in shape, center, and spread in the context of the data sets, accounting for

possible effects of extreme data points

(outliers).


Probability



ment variable

Use the mean and standard deviation of a data set to fit it to a normal distribution and to estimate population percentages.

Recognize that there are data sets for which such a

procedure is not appropriate. Use calculators,

spreadsheets, and tables to estimate areas under the normal curve.



5-‐3


Probability



ment variable

Represent data with plots on the real number line (dot plots, histograms, and box plots).

3

I can create a frequency

distribution from a set of data.

I can use box-‐and-‐whisker plots and stem-‐and-‐leaf plots

to display information. I can use linear regression to negotiate the

purchase or sale of a car.

Box-‐and-‐whisker plot, boxplot, frequency, frequency distribution, modified

boxplot, stem-‐and-‐leaf plot




and assign


Probability



ment variable

Use statistics appropriate to the shape of the data distribution to compare center

(median, mean) and spread

(interquartile range, standard deviation) of two or more

different data sets.


Probability



ment variable

Interpret differences in shape, center, and spread in the context of the data sets, accounting for

possible effects of extreme data points

(outliers).


Probability



ment variable

Use the mean and standard deviation of a data set to fit it to a normal distribution and to estimate population percentages.

Recognize that there are data sets for which such a

procedure is not appropriate. Use calculators,

spreadsheets, and tables to estimate areas under the normal curve.



5-‐4

F-‐IF Functions



Graph linear and quadratic functions and show intercepts, maxima, and minima.

3

I can explain different types of automobile

insurance coverage. I can compute insurance costs. I can compute payments on

insurance claims.

Actuary, automobile insurance, bodily injury

liability (BI), car rental insurance, claim, collision insurance,

comprehensive insurance, deductible,

emergency road service

insurance, liable, liability insurance,

negligent, no-‐fault insurance , personal injury protection (PIP),

premium, property

damage liability (PD),

surcharge, uninsured/unde

rinsured motorist protection

insurance (UMP)




and assign S-‐ID Statistics and

Probability

Interpret Linear Models

Interpret the slope (rate of change) and

the intercept (constant term) of a linear model in the context of the data.

5-‐5

A-‐CED Algebra

Create equations

that describe numbers or relationships

Create equations in two or more variables to represent

relationships between quantities; graph equations on

coordinate axes with labels and

scales. 3

I can write, interpret, and graph

a straight line depreciation equation.

Appreciate, depreciate, slope, straight

line depreciation, straight line depreciation equation




and assign

A-‐CED Algebra

Create equations



inequalities, and by systems of equations and/or inequalities,

and interpret



solutions as viable or nonviable options in a modeling context.

F-‐IF Functions


Calculate and interpret the average rate of change of a function (presented symbolically or as a

table) over a specified

interval. Estimate the rate of change from a

graph.

F-‐IF Functions



Graph linear and quadratic functions and show intercepts, maxima, and minima.

F-‐IF Functions



Compare properties of two functions each represented in a different way (algebraically, graphically, numerically in

tables, or by verbal descriptions).

F-‐LE Functions

Construct and compare linear and exponential models and

solve problems

Recognize situations in which one

quantity changes at a constant rate per

unit interval relative to another.

F-‐LE Functions

Construct and compare linear and exponential models and

solve problems


linear or exponential function in terms of a

context.



5-‐6

A-‐CED Algebra

Create equations


.

Create equations in two or more variables to represent

relationships between quantities; graph equations on

coordinate axes with labels and

scales.

2

I can write, interpret, and graph an exponential depreciation equation.

I can manipulate the exponential depreciation

equation in order to determine time, original price, and depreciated value.

Dollar value, exponential decay,

exponential depreciation, historical data, historical

depreciation




and assign

A-‐CED Algebra

Create equations


.



and interpret solutions as viable or nonviable options in a modeling context.

F-‐IF Functions



Graph exponential and logarithmic functions, showing intercepts and end behavior, and trigonometric functions,

showing period, midline, and amplitude.

F-‐IF Functions



Use the properties of exponents to

interpret expressions for exponential functions.

F-‐IF Functions



Compare properties of two functions each represented in a different way (algebraically, graphically, numerically in

tables, or by verbal descriptions).



F-‐LE Functions

Construct and


solve problems


linear or exponential function in terms of a

context.

F-‐LE Functions

Construct and


solve problems

Recognize situations in which a quantity grows or decays by a constant percent rate per unit interval

relative to another.


Probability




Represent data on two quantitative

variables on a scatter plot, and describe

how the variables are related.


Probability




Fit a function to the data; use functions fitted to data to solve problems in the

context of the data.


Create equations


Rearrange formulas to highlight a

quantity of interest, using the same reasoning as in solving equations.

3

I can write, interpret and use the distance formula.

I can use the formula for the relationship

between distance, fuel economy, and

gas

Currency exchange rate, distance formula, electronic odometer,

English Standard System, fuel economy

measurement, kilometers per liter, mechanical

odometer, Metric System,




and assign



miles per gallon, odometer,

speedometer, trip odometer

5-‐8

A-‐SSE Algebra

Interpret the


Interpret complicated expressions by

viewing one or more of their parts as a single entity.

2

I can calculate reaction time and distance in the English Standard

System. I can calculate and use the braking distance in both English Standard and Metric

Systems. I can calculate and use the total

stopping distance in both the English Standard and Metric Systems.

Braking distance, reaction distance,

reaction time, thinking time, total stopping distance




and assign A-‐SSE Algebra

Write expressions


problems

Choose and produce an equivalent form of an expression to reveal and explain properties of the

quantity represented by the expression.

5-‐9

A-‐REI Algebra

Understand solving equations as a process

of reasoning and explain

the reasoning

Solve simple rational and radical equations in one variable, and give examples showing how

extraneous solutions may arise.

2

I can determine the minimum skid

speed using the skid mark formula.

I can determine the minimum skid speed using the yaw mark formula.

Accident reconstructionist, anti-‐lock

braking system (ABS), braking efficiency, chord, drag factor, middle ordinate,

shallow skid mark, skid

distance, skid mark,

skid speed formula, yaw

mark




and assign

G-‐C Geometry

Find arc lengths and areas of sectors of circles

Derive using similarity the fact

that the length of the arc intercepted by an angle is proportional to the radius, and define the radian

measure of the angle as the constant of proportionality; derive the formula for the area of a

sector.



F-‐IF Functions


For a function that models a

relationship between two quantities, interpret key

features of graphs and tables in terms of the quantities, and

sketch graphs showing key features

given a verbal description of the relationship. Key

features include: intercepts; intervals where the

function is increasing,

decreasing, positive, or negative; relative maximums and minimums;

symmetries; end behavior; and periodicity

Time is again built into the calendar for students to collaborate on the assigned problems. The chapter assessment problems should be given to the students in advance, although the actual, graded work should be done in class. Students may work on the assessment problems outside class, in

advance, but should not be allowed to utilize their work in class during the assessment.

This is an excellent opportunity to bring in a guest speaker from an auto dealership or lending institution.

End Early 2nd Quarter (25 days) Selected problems pages 282-‐287



Math You & Your Money: Financial Algebra – Early 3rd Quarter Text






describe numbers

or relation-‐ships



and interpret solutions as viable or non-viable options in a modeling context.

4

I can express tax schedules

algebraically. I can compute Federal income taxes using a tax table and tax schedule.

Head of household, Income tax, Internal Revenue Service,

married filing jointly,

married filing separately, property tax, qualifying

widower, sales tax, tax, taxable income




and assign

7-‐2

F-‐IF Functions

Understand the

concept of a function and use function notation

Understand that a function from one set (called the domain) to another set (called the range) assigns to each

element of the domain exactly one element of the

range. If f is a function and x is an element of its domain, then f(x)

denotes the output of f

corresponding to the input x. The graph of f is the graph of the equation y = f(x).

3

I can construct income tax graphs using piecewise functions derived

from tax schedules.

Flat tax, progressive tax

system, proportional tax, regressive tax schedule,

tax Bracket




and assign

F-‐IF Functions

Understand the

concept of a

function and use

Use function notation, evaluate functions for inputs in their domains, and interpret

statements that use



function notation

function notation in terms of

a context.

F-‐IF Functions



Graph square root, cube root, and

piecewise-‐defined functions, including step functions and absolute value functions.

F-‐IF Functions



Write a function defined by an expression in different but

equivalent forms to reveal and explain different properties of the function.

F-‐BF Functions

Build a function that

models a relation-‐ship

between two

quantities

Determine an explicit expression, a recursive process,

or steps for calculation from a

context.

7-‐3

A-‐SSE Algebra

Interpret the

structure of

express-‐ions


represent a quantity in terms of its context.

3

I can interpret and use the

information on a pay stub, W-‐2 form and 1099

form.

Cafeteria plan, flexible spending

account, Form 1099, Form W-‐2, gross pay,

net pay, paycheck, pay stub, take-‐home pay, tax-‐deferred

contribution, withholding

tax




and assign F-‐BF Functions



between two

Write a function that describes a relationship between two quantities



quantities

7-‐4

A-‐SSE Algebra

Interpret the

structure of

expressions



4

I can complete Form 1040EZ. I can complete Form 1040A.

Dependent, exemption, Form 1040A, Form 1040EZ, Form 1040, itemize, standard deduction




and assign A-‐CED Algebra


describe numbers






modeling context.

7-‐5

A-‐SSE Algebra

Interpret the

structure of

expressions



7

I can file Form 1040 with itemized deductions.

I can understand the difference between a tax credit and a tax deduction.

Form 1040, Schedule A-‐Itemized Deductions, Schedule B-‐Interest and Dividend Income, tax avoidance, tax credit, tax evasion, voluntary compliance




and assign A-‐CED Algebra


describe numbers






modeling context.



Time is again built into the calendar for students to collaborate on the assigned problems. The chapter assessment problems should be given to the students in advance, although the actual, graded work should be done in class. Students may work on

the assessment problems outside class, in advance, but should not be allowed to utilize their work in class during the assessment.

This is an excellent time for a guest speaker from the tax preparation field.

End Early 3rd Quarter (25 days) Selected problems pages 376-‐381



Math You & Your Money: Financial Algebra – Early 4th Quarter Text




9-‐1 F-‐IF Functions



Use the properties of exponents to interpret


2

I can calculate future values of retirement

investments that are both single deposit and periodic.

I can compare the tax savings by

making contributions to

pre-‐tax retirement savings accounts.

I can calculate an employer’s matching

contribution to a retirement account.

401K, 403B, after-‐tax

investments, individual retirement

account (IRA), Keogh plan,

retirement, Roth IRA,

semi-‐retired, tax-‐deferred, tax-‐exempt, traditional

IRA



CD



Problems and assign

9-‐2

A-‐SSE Algebra

Interpret the

structure of expres-‐sions



context

3

I can explain the benefits paid by Social Security. I can explain how benefits are computed.

I can compute Federal income tax on benefits that are paid under Social Security.

Full-‐retirement age,

Old-‐Age, Survivors, and Disability Insurance (OASDI),

Social Security benefit, Social Security credit, Social Security statement



CD



Problems and assign A-‐CED Algebra


describe numbers








modeling context.

9-‐3 F-‐BF Functions



between two

quantities

Write a function that describes a relationship between two quantities.

2

I can calculate pension benefits using various formulas.

I can calculate pension benefits during and after vesting periods.

Consumer Price Index (CPI), cost of

living adjustment (COLA), deferred

compensation, defined benefit plan, Employee Retirement Income

Security Act, lump-‐sum payment, pension, Pension Benefit Guaranty

Corporation, Pension

Protection Act, qualified joint and survivor annuity, vested



CD



Problems and assign

9-‐4 S-‐MD Statistics

& Probability

Calculate expected values and use them to solve

problems

Define a random variable for a

quantity of interest by assigning a

numerical value to each event in a sample space; graph the

corresponding probability

distribution using the same graphical displays as for data

2

I can compute the cost of different types of life insurance.

I can explain the advantages and disadvantages of different types of life insurance.

Beneficiary, cash value, decreasing term

insurance, face value, group term life insurance, increasing term

insurance, level term insurance,



CD



Problems and assign



distributions mortality table, permanent life insurance,

premium, term life insurance, universal life insurance, variable life insurance, whole life insurance

S-‐MD Statistics

& Probability


problems

Calculate the expected value of a random variable; interpret it as the mean of the probability distribution.

S-‐MD Statistics

& Probability


problems

Develop a probability

distribution for a random variable

defined for a sample space in which probabilities are

assigned empirically; find the expected value.

S-‐MD Statistics

& Probability


problems

Weigh the possible outcomes of a decision by assigning

probabilities to payoff values and finding expected

values.

Time is again built into the calendar for students to collaborate on the assigned problems. The chapter assessment problems should be given to the students in advance, although the actual, graded work should be done in class. Students may work on the assessment problems outside class, in advance, but should not be

allowed to utilize their work in class during the assessment. This is an excellent opportunity to bring in a guest speaker who is an insurance agent or financial planner.

End Early 4th Quarter (15 days) Selected problems pages 472-‐479

You & Your Money: Financial Algebra Course Syllabus · 2016-03-30 · You & Your Money: Financial...

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