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### MathPFinance.doc

1. 1. The Tower of Babel Summative Activity and Assessment Plan Professor: Jamie Pyper Students : Jonathan Blankson Ihsan Rehman Mihaela Tingire Section 003
2. 2. Table of Contents Overview.............................................................................................................................................3 Background Information.....................................................................................................................3 Teacher Instructions ...........................................................................................................................4 Day #: 1 Topic: Canada Savings Bond...............................................................................................5 Day #: 2 Topic: The Budget Sheet.....................................................................................................6 Day #: 3 Topic: The Cost of Credit...................................................................................................7 Worksheet 1........................................................................................................................................8 Worksheet 2......................................................................................................................................10 Game Worksheet...............................................................................................................................11 Worksheet 3......................................................................................................................................12 Solutions: Worksheet 1.....................................................................................................................13 Solutions: Worksheet 2.....................................................................................................................15 Game Sheet Solutions.......................................................................................................................16 Solutions: Work Sheet 3...................................................................................................................18 2
4. 4. Teacher Instructions This summative unit is broken into three days as it follows : Day Activity K/U TIPS CO APP 1 Canada Savings Bonds 4 - 5 10 2 The Budget Sheet/Game 5 - 9 25 3 The Cost of Credits - - 5 20 • All the teaching and learning strategies are outlined in the daily lesson plans • Student worksheet handouts are featured for each of the three days • The assessment strategies (marking schemes and rubrics) as well as the solutions for each activity are provided under the Solutions section of this document. Note: The Game Sheet is part of Day #2. Students should be given the background information below. The amortization tables are part of the solutions; in order to receive full marks the students should implement and submit them using spreadsheet software (e.g. MS Excel) Background Information A small city, Babel, which was struggling economically decided to take the world by storm by building a very big and tall tower (which they aimed to make it more attractive than the famous Tower of Paris) to attract tourists and travelers alike to the city in order to boost their economy. A committee was set to make this wonderful dream come through. After first meeting the committee approached a Scotia Bank to let them know what they were doing so that as soon as they finished their estimate they could get a loan from them. But the Scotia Bank asked them to raise funds and invest in the Canada Savings Bond to get some capital before they could lend them the rest of the money needed for the project and they have to submit their budget to show that the project would be profitable. 4
5. 5. LESSON PLAN MBF3C Mathematics of Personal Finance Day #: 1 Topic: Canada Savings Bond REVIEW HANDOUTS / TECHNOLOGY Simple interest and compound interest • Worksheet 1: Canada Saving Bond Activity • Computers connected to the internet TEACHING EXPECTATIONS Students will : • Know and distinguish between various Canada Savings Bond types • Solve problems involving the simple interest formula (I=Prt) • Solve problems involving the calculation of the amount (A) and the principal (P) in the compound interest formula A = P(1+i)n CURRICULUM REFERENCES The Ontario Curriculum Grades 11 and 12 Science, 2000 pg. 29 LESSON OVERVIEW This activity should be done in a computer lab or classroom with computers connected to the Internet. Students can work independently or in a group of two or more depending on the number of computers available. A brief review of formulae involving the simple interest and compound-interest would be advantageous for the students. As well, students may be allowed to quietly converse in pairs on the problems as they require total understanding to correctly use the given formulas. The teacher should make sure that all students have logged on to Canada Savings Bond web site following the link given on the worksheet. The teacher should be available throughout this work period to clarify any problems the students might have. METHOD OF ASSESSMENT This period will be formally evaluated as part of the total assignment mark. The assessment includes a marking scheme : Knowledge - 4 marks, Application -10 marks, Communication - 5 marks and a rubric based on four levels for the evaluation of the thinking and communication skills. ENRICHMENT REMEDIATION • Question 3 can be modify using • Give students extra time if they require different interest rates or they can complete the work at home • Draw a graph to compare the and submit it the next day accumulated interest earned after • Guide students to organize the chart each year for the two types of regular or compound interest bonds 5
6. 6. LESSON PLAN MBF3C Mathematics of Personal Finance Day #: 2 Topic: The Budget Sheet REVIEW HANDOUTS / TECHNOLOGY The concepts of present value and regular • Worksheet 2: The Budget Sheet Activity payment in the formula for the present • Game Sheet value of an ordinary annuity. • Computers with spreadsheet software or TI-83 Plus calculators TEACHING EXPECTATIONS Students will : • Design a budget suitable for a small company • Explain and justify budgets, using appropriate mathematical forms • Compare the cost involved in buying or leasing the same vehicle or office CURRICULUM REFERENCES The Ontario Curriculum Grades 11 and 12 Science, 2000 pg. 31 LESSON OVERVIEW This activity can be done in a computer lab or classroom with computers (with spreadsheet software) or TI-83 Plus calculators can be used. Students can work independently or in groups of two or more, depending on the number of computers or TI-83 Plus calculators available. A brief review of formulae that are important for the calculation of the regular payment and the present value in the formula for the present value of an ordinary annuity would be helpful for the students. As well, students may be allowed to quietly converse in pairs on the problems as they require total understanding to correctly use the formulas given. The teacher should be available throughout this work period to clarify any problems the students might have. For the game part (i.e., if the students finish early) the teacher should divide students into four home groups. Two people in each home group are going to become experts on one question on the game sheet. The two experts for, say question #1, from each home group move to the same table to solve question #1. The same for question #2 and so on. After mastering their topic, the two experts for each question move to their home group to share their solution in turns with the rest of their group. Each home group submits one solution and all group members receive the same mark. METHOD OF ASSESSMENT The teacher will formally assess the students, using a marking scheme: Knowledge - 5 marks, Application - 25 marks, Communication - 9 marks and a rubric based on four levels for the evaluation of the thinking and communication skills. ENRICHMENT REMEDIATION • Have students to research to come out • Give students extra time if they required with the cost of building a tower bigger • Guide students to come out with good than that of Paris and reasonable expenses relative to the • More problems can be added to the company in question game sheet 6
7. 7. LESSON PLAN MBF3C Mathematics of Personal Finance Day #: 3 Topic: The Cost of Credit REVIEW HANDOUTS / TECHNOLOGY The present value and the regular payment • Worksheet 3: The Cost of Credit Activity in the formula for the present value of an • Computers with spreadsheet software or ordinary annuity TI-83 Plus calculators TEACHING EXPECTATIONS Students will: • Solve problems involving the calculation of the present value and the regular payment in the formula for the present value of an ordinary annuity • Build an amortization table for repayment schedule to calculate the total interest paid on loans • Know and make decisions on good loan deals CURRICULUM REFERENCES The Ontario Curriculum Grades 11 and 12 Science, 2000 pg. 29 LESSON OVERVIEW This activity can be done in a computer lab or classroom with computers (with spreadsheet software) or TI-83 Plus calculators can be used. Students can work independently or in groups of two or more depending on the number of computers or TI-83 Plus calculators available. A brief review of formulae that are important for the calculation of the present value and the regular payment in the formula for the present value of an ordinary annuity would be helpful for the students. As well, students may be allowed to quietly converse in pairs on the problems as they require total understanding to correctly use the given formulas. The teacher should be available throughout this work period to clarify any problems the students might have. METHOD OF ASSESSMENT This period will be formally evaluated as part of the total assignment mark, using the following marking scheme: Application - 20 marks and Communication - 5 marks. ENRICHMENT REMEDIATION • Have students solve problems • Give students extra time if they require involving different interest rates and • Guide students to make the repayment deals schedule 7