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Financial Mathematics

Join Bob, a diligent office worker earning $100,000, on a collaborative financial exercise. In small groups, you'll navigate various stations to calculate Bob's income after tax, savings interest, and expenditures on a car, house, and tent. Each station provides a hands-on approach to understanding budgeting and financial management. Engage in discussions about profitability, common spending errors, and the probability of picking the most advantageous financial decisions. Prepare to enhance your financial literacy while having fun!

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Financial Mathematics

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  1. Financial Mathematics

  2. Office Worker - Bob Salary $100,000

  3. Get into groups of 3-4 • Choose a name for your group.

  4. Station A • Pick up a card from station A and calculate Bob’s salary after income tax. • Put your answer on the sheet at the front of the class.

  5. Station B • Pick up a card from station B and calculate Bob’s savings. • Put the interest saved on the sheet at the front of the class.

  6. Credit card information • Funny Moneyman Credit Card Game Show • http://www.youtube.com/watch?v=g6_YvIhPKMk

  7. Station C • Bob buys a car for $5,000 • Pick up a card from Station C to calculate how much he paid. • Put your answer on the sheet at the front of the class as a negative amount.

  8. Which ‘Bob’ group is currently worth the most?

  9. Station D • Bob buys a house. • Pick up a card from Station D to calculate the profit of the house. • Put your answer on the sheet at the front of the class.

  10. Station E • Bob decides to go on holiday…he buys a tent. $730 • Pick up a card from station E. • How much did he pay for the tent? • Put your answer on the sheet at the front of the class as a minus.

  11. Which group has saved the most and why? • You all had an annual salary of $100,000. • You all bought a car worth $5,000 and a tent worth $730. • You all bought a house worth $500,000.

  12. Finally • In groups, make another question for a new station. • Discuss the probability of picking the most profitable card at each station. • What are common errors made when spending/budgeting?

  13. Probability…. • Next week we will be starting probability…

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