PWR Transitional Math



Instructional Task Implementation GuideEmergency FundTransitional Math Course: Quantitative Literacy and StatisticsTransitional Math Unit: Unit 1 Personal FinanceUnit Learning Segment: U1D Saving and InvestingRecommended Length of Task: 2 – 3 days (90 - 135 minutes)Task ObjectivesTask TitleEmergency FundTask SummaryStudents discuss various ways of saving for the future, and compute future values using the compound interest formula.Materials NeededCalculator and/or computer with Excel for each student, task documents Competencies/Key Performance IndicatorsQL –A1.A: Use variables to accurately represent quantities or attributes in a variety of authentic tasks.QL-A3.D: Develop and solve equations and inequalities in one variable. (Set-up and solving – single variable equation from an authentic task, showing and defending workStandards of Mathematical PracticeMake sense of problems and persevere in solving themReason abstractly and quantitativelyConstruct viable arguments and critique the reasoning of othersModel with mathematicsUse appropriate tools strategicallyAttend to precisionLook for and make use of structureLook for and express regularity in repeated reasoningChecking for UnderstandingDescription of ProductDetermine how much money should be in an emergency fund, and then calculate compound interest given a principal and interest rate for given savings accounts.Formative Check Points Student can calculate amount to have in emergency fund.Student can calculate growth of principal given % and time, including compound interest.Review the given budget (Tyler) and make recommendationsTask RubricCompetency and IndicatorsLevel 1 – No EvidenceLevel 2 – Partially MeetsLevel 3 - ApproachesLevel 4 - MeetsLevel 5 - ExceedsQL-A1. Students can demonstrate understanding of the characteristics of variables and expressions and apply this knowledge in authentic modeling and problem solving situations. Student does not meet prerequisite skills.Student demonstrates prerequisite skills.Student demonstrates understanding of simple indicators.Student demonstrates understanding of complex indicators in an authentic task.Student demonstrates understanding of indicators that goes beyond expectations.QL-A1.A. Use variables to accurately represent quantities or attributes in a variety of authentic tasks.A. Not yet able to apply vocabulary to identify parts of an expression or define the variables needed in an authentic taskA. Define the variables needed in an authentic taskANDA. Given an authentic task student can identify the variableA. Match correct expression to given taskA. Create an expression from an authentic task. Including naming the variableA. Analyze authentic tasks to interpret variables and quantitiesQL-A3. Students can create, solve, and reason with equations and inequalities in the context of authentic modeling and problem solving situations. Student does not meet prerequisite skills.Student demonstrates prerequisite skills.Student demonstrates understanding of simple indicators.Student demonstrates understanding of complex indicators in an authentic task.Student demonstrates understanding of indicators that goes beyond expectations.QL-A3.D. Develop and solve equations and inequalities in one variable.D. Not yet able to create and solve their own authentic task for equations and inequalitiesD. Solve an equation with integer solutions and solve a singular (as opposed to compound) inequalityD. Solve an equation or compound inequality with real solutions including no solution or infinitely many solutionsD. Develop and solve an appropriate equation or inequality given an authentic taskD. Create and solve their own authentic task for inequalitiesTask ImplementationTask Launch: How many of your students plan to be wealthy? What are the recurring expenses they expect to have while living their ideal lifestyle? Have they ever estimated how much their lifestyle will cost them each month? How many already live on a budget? How many have never experienced living within a budget?Task Steps/ProceduresResource LinkSolution Paths & Potential MisconceptionsParticipationAs a class, students discuss the meaning of emergency fund.Discuss what constitutes a financial emergencyHow much should a given person have in an emergency fund?How do you start an emergency fund?Where should you keep your money?How will the money grow? Have students compute interest given various interest rates and time periods using compound interest formula.Ideas for savings tips?What does a budget look like?Review the sample budget for Tyler -- give him advice on changes he can make.Money Math for Teens – The Emergency FundStudents will need to know: How to change % to a decimalHow to translate periods of time such as quarterly, monthly and yearlyHow to solve an equation with exponents.Small GroupPartnerAccess & Differentiation to Promote LearningConsiderations for Multiple Means of ExpressionConsiderations for Multiple Means of EngagementConsiderations for Multiple Means of RepresentationStudents can create handwritten tables, or use an Excel spreadsheet for calculating compound interest. Students use their own income and calculate interest given current interest rates; or instructor can assign various values to “save” each month, with students finding how long to reach $1000.Students present findings to the class, using Excel spreadsheet analysis or on posterboard for hand-calculated charts of compound interest savings.Opportunities for ExtensionStudents evaluate differences in earnings if various amounts of money are added to the account each month or year. Ex. Grandma gives a gift of $100 for birthday. How should Tyler use that money?Opportunities for RemediationStudents practice simple interest problems first: HYPERLINK "" \h HYPERLINK "" \h for Additional Skill PracticeCalculate simple interest problems given a variety of rates and times. ................
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