## mathematics essentials 10 Earning and purchasing

**Specific Curriculum Outcomes**

**A1**understand purchasing power

**B1**determine the renumeration for chosen occupations, including salary and benefits, and evaluate it in terms of purchasing power and living standards

**B2**solve problems involving various ways that an employee can be paid using calculators or appropriate software

**A2**explain the difference between gross pay and net pay, and describe possible payroll deductions

**B3**calculate gross pay and net pay for given situations

**F1**read and apply payroll deduction tables

**F2**identify the information and documents required for filing a personal income tax return, and explain why they are required (optional)

**F3**describe the effects on personal spending habits of the frequency of pay period

**B4**estimate and calculate the unit prices of comparable items to determine the best buy

**A3**explain indirect and direct forms of taxation

**B5**solve problems involving the estimation and calculation of provincial and federal sales taxes

**B6**estimate and calculate selling price, discounts, and taxes

**B7**provide the correct change for an amount offered and minimize the number of coins/bills

**B8**select amounts to offer for a given charge to minimize the number of coins/bills received in the change

**A4**identify and explain the advantages and disadvantages of various plans to make purchases

**B9**identify, calculate, and compare the interest costs involved in making purchases under various plans

**F4**make decisions regarding the purchase of costly items by identifying and ranking criteria for the comparison of possible choices

**F5**make decisions regarding the payment options for purchases

**F6**identify various incentives to make purchases

**B10**estimate and calculate the price in Canadian funds of items bought in or ordered from another country

## Activities

**The Money Duck Activity from Dan Meyer**- The Virginia Candle company sells a bar of soap shaped like a duck. Inside each duck is either a $1, $5, $10, $20 or $50 bill. How much should this bar of soap cost?

**Aaron's Rent to Buy Activity from Dan Anderson**- Investigate the costs of purchasing items from rent-to-own/lease-to-own stores such as EasyHome, Aaron's and Rent-a-Centre. What the benefits and costs of these purchases?