Money Fraction Lesson

12.5 Relate Fractions, Decimals, and Money

I can use hundredths models, fractions, and decimals to represent money amounts.

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Launch problem: a dime is 1/10 of a dollar. A penny is 1/100 of a dollar. What fraction of a dollar is 6 dimes and 3 pennies? write your answer in decimal form.

Today, we are going to discuss money and how it relates to decimals and fractions.

Remember, if 1 penny is 1/100 of a dollar, then it it $0.01.

Problem 1: How much money does Frankie have?

The coins in the picture show the amount of change Frankie receives from the cashier. How much change does Frankie receive?

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Write the amount of change Frankie has as a fraction of a dollar.

/100 (include the /100 in your answer)

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Write the amount of change Frankie has as a decimal.

Frankie has 53/100 cents, or $0.53.

To solve this problem, find the value of each kind of coin. A quarter has a value of 25¢. A dime has a value of 10¢. A nickel has a value of 5¢. A penny has a value of 1¢.

25, 10, 10, 5, 1, 1, 1

Count to find the total value of the coins.

25, 35, 45, 50, 51, 52, 53

The coins represent 53¢.

Problem 2: How much coins do I need to buy a cauliflower?

Cauliflower is on sale for two dollars and sixty-three cents. We are going to figure out what kind of coins we need to buy this cauliflower.

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First, lets write two dollars and sixty-three cents as a mixed number. ___ ___/___

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Next, let's write two dollars and sixty-three cents as a decimal. You do NOT have to include the dollar sign.

Multiple Select

Now that we know we need $2.63 to buy a cauliflower, what coins and bills should I use so I use the SMALLEST amount of coins?

• two dollars

• 1 dime

• 2 quarters

• 6 dimes

• three pennies

We want to use two dollar bills, two quarters, one dime, and three pennies.

Remember, one dollar equals 100 cents, one quarter equals 25 cents, one dime equals 10 cents, and one penny equals 1 cent.