Money and Debts

Warmup

Activity #1

At the beginning of the month Kiran had $24 in his school cafeteria account.

Representing a Transaction on a Number Line.

In the first week he spent $16 on lunch.

(1.) How much was in his account then?

(2.) Use a variable to represent the unknown quantity and write an equation to represent it.

(3.) What is the unknown quantity?

Then Kiran deposited some more money and his account balance was $28.

(4.) How much did he deposit?

(5.) Use a variable to represent the unknown quantity and write an equation to represent it.

(6.) What is the unknown quantity?

Then he spent $34 on lunch the next week.

(7.) How much was in his account then?

(8.) Use a variable to represent the unknown quantity and write an equation to represent it.

(9.) What is the unknown quantity?

Then he deposited enough money to pay off his debt to the cafeteria.

(10.) How much did he deposit?

(11.) Use a variable to represent the unknown quantity and write an equation to represent it.

(12.) Explain why it makes sense to use a negative number to represent Kiran’s account balance when he owes money.

Activity #2

Solving Money Problems using Linear Equations.

Activity #3

Money Game.

Interact with the applet below to test your skills in buying items from a store.

Challenge #1

(1.) If we put withdrawals and deposits in the same column, how can they be represented?

(2.) Andre withdraws $40 to buy a music player. What is his new balance?

(3.) If Andre deposits $100 in this account, will he still be in debt? How do you know?

Challenge #2

The table shows five transactions and the resulting account balance in a bank account, except some numbers are missing. Fill in the missing numbers.

Challenge #3

Quiz Time