Class notes

"Grade 9 Consumer Math: Key Concepts in Budgeting, Interest, and Financial Literacy"

0 purchase

Course
Consumer math

Institution
9th Grade

This document provides an overview of essential Grade 9 consumer math topics, focusing on practical financial skills such as budgeting, calculating simple interest, understanding percentages, and applying sales tax and discounts. It also covers unit pricing for comparing products and the basics of ...

[Show more]

Preview 1 out of 2 pages

View example

Uploaded on August 17, 2024
Number of pages 2
Written in 2024/2025
Type Class notes
Professor(s) Harmna
Contains Math

budgeting

Institution Secondary school
Education 9th Grade
Course Consumer math
School year 5

CA$39.66

Add to cart

Save

100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached

1. Budgeting

● Income: This refers to money received, such as allowances, wages from a job, or
gifts. It's important to track all sources of income.
● Expenses: These include money spent on things like food, clothes, school supplies,
and entertainment. Fixed expenses (like rent) remain the same every month, while
variable expenses (like food) can change.
● Savings: Set aside a portion of your income for future needs or emergencies. A good
rule of thumb is to save at least 10% of your income.

2. Simple Interest

● Formula: I=P×R×TI = P \times R \times TI=P×R×T
● I = Interest earned or paid
● P = Principal (initial amount of money)
● R = Interest rate (usually as a decimal)
● T = Time (in years)
● Example: If you invest $1,000 at a 5% interest rate for 2 years, the interest would be:
I=1000×0.05×2=100 dollarsI = 1000 \times 0.05 \times 2 = 100 \,
\text{dollars}I=1000×0.05×2=100dollars

3. Percentages

● Used in calculating discounts, taxes, and tips.
● Example: To find 20% of $50, multiply 50×0.20=1050 \times 0.20 = 1050×0.20=10.

4. Sales Tax

● Sales tax is a percentage added to the price of goods or services.
● Formula: Total Price=Item Price+(Item Price×Sales Tax Rate)\text{Total Price} =
\text{Item Price} + (\text{Item Price} \times \text{Sales Tax Rate})Total Price=Item
Price+(Item Price×Sales Tax Rate)
● Example: If a book costs $20 and the sales tax is 8%, the total cost is
20+(20×0.08)=21.60 dollars20 + (20 \times 0.08) = 21.60 \,
\text{dollars}20+(20×0.08)=21.60dollars.

5. Discounts

● Discounts reduce the original price of an item.
● Formula: Discounted Price=Original Price−(Original Price×Discount
Rate)\text{Discounted Price} = \text{Original Price} - (\text{Original Price} \times
\text{Discount Rate})Discounted Price=Original Price−(Original Price×Discount Rate)
● Example: If a jacket costs $80 and is on sale for 25% off, the discounted price is:
80−(80×0.25)=60 dollars80 - (80 \times 0.25) = 60 \,
\text{dollars}80−(80×0.25)=60dollars

6. Unit Pricing

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller navrajmore. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$39.66. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

64232 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling