Activity 3: Pay up (Maths)
1. PLAY the video segment
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In the video, Tye had trouble managing his credit card. In fact, the card was cancelled. Nik also had trouble with his credit card - and mobile phone bill, too. His car was repossessed because there was money owing on it. |
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2. This is one of Tye's previous credit card statements. READ it and answer the questions below.
3. ANSWER the following questions:
a. Did Tye owe any money on his credit card at the beginning of this statement?
b. What is the total purchase amount in the period shown?
c. What is the total Tye had to pay by the due date to avoid any credit charges?
4. Tye paid only the minimum amount due and spent $230 in the next month. He also had a government charge of $0.73.
ANSWER the following questions.
a. How much interest was Tye charged in the next statement issued on 5 June? (Tye's account charges interest from the statement's issue date for any amount not paid by the due date). Show your working.
b. What was the total amount of the next statement?
c. On Tye's card, cash advances do not have an interest-free period. If he takes out a $100.00 cash advance on 7 July, how much interest will he be charged on 4 August?
d. DISCUSS : What do you think are some of the strategies for using a credit card without getting into trouble with credit?
5. COMPARE your answers with others in your class.
This activity can be found in the NSW Money Stuff Teacher resource book – Mathematics page 29 .
Explore additional learning activities (which include extension and revision tasks) in the print resources section under Print resources - Victoria.
Linked Learning Outcomes - NSW
General Mathematics (Stage 6)
1. Makes predictions about the behaviour of situations based on simple models.
2. Uses mathematical argument and reasoning to evaluate conclusions drawn from other sources.
Learning Outcomes – Victoria
Victorian Essential Learning Standards (VELS) Discipline-based learning
Domain: Maths
Dimension: Number, Space, Measurement, Chance and data, Structure and Working Mathematically
Level 5
Students use efficient mental and/or written methods for arithmetic computation involving rational numbers, including division of integers by two-digit divisors.
Students formulate conjectures and follow simple mathematical deductions.
Level 6
Students carry out arithmetic computations involving natural numbers, integers and finite decimals using mental and/or written algorithms.
Students choose, use and develop mathematical models and procedures to investigate and solve problems set in a wide range of practical, theoretical and historical contexts.
Learning Outcomes - Western Australia
(Maths)
WM 3.4 Asks questions to clarify the essential mathematical features of a problem and uses problem solving strategies that include those based on identifying and organising key information.