Critical Skills - Rounding, Money, Percents

Critical Skills - Rounding, Money, Percents

Needed for Life - Financial Mathematics
(Money)

Poll

Do you know how to round?

• Yes

• No

• I think so....

The Importance of Rounding

➢If you round incorrectly your answer will be counted as WRONG!

➢This means you can be off by as little as one penny and get the answer
wrong!!!

➢This is one of the most important lessons of the year because of the impact
it will have on your grade!

Multiple Choice

What is the money format for the number 15.0572

• $15.05

• $15.06

• $15.0572

• $150572

This Lesson is weird!

➢In this lesson we will begin each question as if we have solved a
problem and have an answer sitting on the calculator screen.

➢This lesson is how to convert the answer that is on your
calculator into a FINAL answer!

How to Round

1. Look at the 3rd digit after the decimal

2. If the number is

• 5 or larger then add 1 penny to the answer and chop off all digits

after the second.

• If the number is NOT 5 or larger then chop off all digits after the

second. We will practice this a little later!

How to Put Answers into Money Format

➢Since this is a financial class most of our answers will be in dollars.

➢This means that many of your answers needs to be in money format.

➢We will round to the PENNY unless told to do otherwise.

➢Money answers will have:

▪ a dollar sign

▪ commas (if needed)

▪ 2 decimal places (unless told otherwise)

Example 1: Money Answers

Example 2: Money Answers

Example 3: You Try It!

1. Your answer on the calculator

4.274999

Multiple Choice

What is 4.274999 in money format?

• $4.274999

• 4.274999

• $4.27

• $4.28

Example 3: You Try It!

Example 4: You Try It!

1. Your answer on the calculator:

4.275001

Open Ended

What is 4.275001 in money format? (Type your answer, make sure you have a $ sign)

Example 4: You Try It!

Open Ended

What is 4 in money format?

Example 5: Money Answers

Multiple Choice

What is 4726 in money format?

• $4726

• $4,726

• $4726.00

• $4,726.00

Example 6: Money Answers

Example 7: You try it!

1. Your answer on the calculator:

27

Open Ended

What is 27 in money format?

Example 8: You try it!

1. Your answer on the calculator:

57215

Open Ended

What is 57215 in money format?

Example 9: Percent Answers

Example 11: You Try It!

1. Your answer on the calculator:

.09

Multiple Choice

What is .09 in percent form?

• 90%

• 9.00%

• 0.09%

• .9%

Example 12: You Try it!

1. Your answer on the calculator:

.053251244

Open Ended

What is .053251244 in percent?

Critical Skills Assignment

​Now it's your turn!

Paper Assignment - Make sure your first and last name is on there. Turn into basket before you leave!

Due Today!


Exit Ticket - Why do you think it is important to understand these money skills? (2-3 complete sentences)