Showing posts with label Personal Financial Literacy. Show all posts
Showing posts with label Personal Financial Literacy. Show all posts

Wednesday, March 18, 2015

Answers: How Much Does it Cost in Singapore?

Ms. Hoffman asked you to convert 4 Singapore Dollars to US dollars?  Did you find the answer??


1 Singapore dollar = 0.74 US dollars

4 Singapore dollars  = 4 x 0.74 dollars = $2.96





Friday, March 13, 2015

How Much Does it Cost in Singapore?

In Singapore, they use money called dollars. It is different from US dollars though!

Ms. Hoffman wanted to buy a special Singapore treat called Kaya Toast. The Kaya toast cost 4 Singapore dollars. Ms. Hoffman wants to know how much that is in US dollars!




Information you need: 1 Singapore dollar = $0.74

How much does Ms. Hoffman have to pay for the Kaya Toast in US dollars?

Wednesday, February 25, 2015

Answers: How Much Does it Cost in Myanmar?

Ms. Hoffman asked you to convert 2500 Myanmar kyat to US dollars. Did you get the answer?
Myanmar Kyat

1000 kyat = $1.00
2500/1000 = 2 and 500/1000 or 2.5.
It costs $2.50!

Friday, February 20, 2015

How Much Does it Cost in Myanmar?

In Myanmar, they use money called Kyat (it is pronounced like "chat"). Ms. Hoffman wanted to buy some noodles for dinner. The menu says that the noodles cost 2500 kyat. Ms. Hoffman wants to know how much that is in US dollars.

Information you need: $1.00 = 1000 kyat

How much does Ms. Hoffman have to pay for the noodles in $?

Ms. Hoffman has some kyat

Saturday, December 20, 2014

More about barter

Dear Teachers,

In my last post, I wrote about how ancient Greeks used olive oil as a form of currency. If you're interested in sharing more about barter as currency with your students, check out this great lesson!

It is designed for upper elementary students and it has a really fun activity to help students learn about the benefits of using money instead of barter. You can find the lesson on the St. Louis Federal Reserve website here.


Tuesday, December 9, 2014

Answers: Using Estimation to Make Math Easier!

Yesterday, Ms. Hoffman asked for your help. She thought maybe she could use estimation to make converting from Turkish Lira to US Dollars easier.

Did you think of a good way?

Here is one way:
Ms. Hoffman knows that 0.45 is close to 0.50. (Just like 45 is close to 50 when you round to the nearest 10)
$0.50 is half of $1.00.
If 1 Turkish Lira is about half of $1.00 then about 2 Turkish Lira equal $1.00. Make sense?

Now it is easy! All you have to do is divide how many Turkish Lira you have by 2 to get the number of US dollars.

Let's try a problem now!

Ms. Hoffman bought a special Turkish towel. It cost 10 TL. How many dollars was it?

10 divided by 2 = 5! The towel is about 5 dollars. Remember, it is not EXACTLY 5 dollars, because we are estimating, but it is close!

Tuesday, December 2, 2014

Answers: How Much Does it Cost in Turkey?


Ms. Hoffman wanted to figure out how much her new scarf costs in dollars. The scarf was 15 TL.

Did you figure out how to find the answer?

Here is one way: 15 x 0.45 = $6.75


Monday, December 1, 2014

How Much Does it Cost in Turkey!

Ms. Hoffman is visiting the country called Turkey. Here in Turkey they use money called the Turkish Lira!

Ms. Hoffman bought a beautiful scarf for herself in KaÅŸ, Turkey. The scarf costed 15 TL (Turkish Lira). Ms. Hoffman wants to know how much that is in US Dollars!

What you will need to know: 1 TL = $0.45

Can you figure it out??


Tuesday, November 4, 2014

Answers: How Much Does it Cost in Germany, Slovakia, Slovenia, Montenegro, Greece, and many more countries??

Ms. Hoffman wanted to know how many dollars were equal to 24 euros.

Here is one way to do it:
24 x 0.78 = $18.72

Can you explain how she found that answer??



Monday, November 3, 2014

How Much Does it Cost in Germany, Slovakia, Slovenia, Montenegro, Greece, and many more countries??

In Europe, many countries have the same money! This money is called the Euro. You might have heard of it! So far, Ms. Hoffman has visited 5 of the countries that use the Euro.

She bought dinner at a restaurant and it cost 24 euros. How much is that in dollars?


You will need to know this: $1.00 = 0.78 Euros
This is a bit harder than some of the other currencies Ms. Hoffman has had to convert!

Wednesday, September 17, 2014

Answers: How much does it cost in the Czech Republic?

Ms. Hoffman wanted to buy lunch for 60 Czech Crowns. How much did that cost in US dollars?

$1.00 = 20 Crowns

60 divided by 20 = 3. It costs $3.00!

Friday, September 12, 2014

How much does it cost in the Czech Republic?

Ms. Hoffman has moved to a new country. It is called the Czech Republic. The money here is called the Czech Crown.

She has to convert money again! It cost 60 crowns to buy lunch here. How much is that in American dollars?

You will need this information: 20 Czech Crown = $1.00

Friday, July 25, 2014

South African Rand: Answers

$1 = 10R
You can write an equation.
110R / 10 = x
110 divided by 10 is 11.
It cost 11 dollars to go to the Apartheid Museum!

Thursday, July 24, 2014

South African Rand

On Ms. Hoffman's trip, she has to think a lot about money. The money in South Africa is called Rand. It costs R110 to go to the Apartheid Museum. But, how much is that in US dollars??  Well, $1 is equal to R10.  Can you figure out how many dollars it was? 

See answers posted tomorrow!

Sunday, May 25, 2014

Answers: Decisions: Moving a Cat to Texas

Ms. Hoffman flew with her cat to Texas today.  We decided to fly because the benefits were greater than the costs.

Here was our decision.

Flying: 3-1 = 2
Driving: 1-3 = -2

We will miss our cat! =(
Our cat - Texi

Our cat in her carrier, at the airport. She made it!

Friday, May 23, 2014

Decisions: Moving a cat to Texas

Ms. Hoffman can't take her cat with her when she goes around the world. She had to find a place for the cat to stay. Her cat is going to stay with Mr. Jean's parents in Texas. Texas is far from Colorado. How will Ms. Hoffman get her cat to Texas?

Use a decision making grid to help Ms. Hoffman decide which is better: fly the cat on the airplane or drive the cat in the car!


Wednesday, March 19, 2014

Answers: Camping on Safari: How Much Will it Cost?

How much will it cost to stay at Chobe National Park in Botswana?
It costs 75 Botswana Pula. 

1 Pula = $0.11 

It will cost $8.47 to stay at Chobe!


How much will it cost to stay at Etosha National Park in Namibia?  
It costs 260 Namibian Dollars.


1 Namibian Dollar = $0.092 

It will cost $23.87 to stay at Etosha!


How much will it cost to stay at Sesriem Camp Site in Namibia?
It costs 140 Namibian Dollars.

1 Namibian Dollar = $0.092 

It will cost $12.86 to stay at Sesriem!

Tuesday, March 18, 2014

Camping on Safari: How Much Will it Cost?

Ms. Hoffman is taking a self-drive safari through Africa. She will have to stay at campsites along the way. 
Self Drive Safari Truck
Each campsite costs money. But, in Botswana and Namibia, they don't use US dollars!  Ms. Hoffman will have to convert their money to US dollars before she knows how much each campsite costs.


Botswana Pula
How much will it cost to stay at Chobe National Park in Botswana?
It costs 75 Botswana Pula. 

1 Pula = $0.11 

Can you figure out how much it will cost to stay at Chobe? 






How much will it cost to stay at Etosha National Park in Namibia?  
It costs 260 Namibian Dollars.

Namibian Dollars


1 Namibian Dollar = $0.092 


Can you figure out how much it will cost to stay at Etosha?


How much will it cost to stay at Sesriem Camp Site in Namibia?
It costs 140 Namibian Dollars.

Can you figure out how much it will cost to stay at Sesrium?

Check back tomorrow for answers!





Wednesday, March 5, 2014

Setting a Savings Goal to Travel: Answers!

Did you set your savings goal??

Here are the answers to yesterday's questions:

  1. Ms. Hoffman has 1 year to save. How many months is that? 1 year = 12 months. Now find out how much money by dividing $3000 divided by 12. That equals $250!
  2. Find out how many months till July 15th. March 15 to April 15, Apr 15 to May 15, May 15 to June 15, and June 15 to July 15th. That is 4 months. Then find out how much each  month by dividing. $3000 divided by 4 = $750!  
  3. Find out how many weeks there are between May 13 and July 15th. Hint: You might need to look at a calendar.
        
    There are 9 weeks! $3000 divided by 9 = $333.33.
  4. First find how many months till  July 15th. Jan, Feb, Mar, Apr, May, June, and half of July. That is 6.5 months. Then find out how much each month by dividing. $3000 divided by 6.5 is: $461.54!

Tuesday, March 4, 2014

Setting a Savings Goal to Travel

Traveling can cost money! Sometimes it can cost a lot of money. 





What should you do if you want to travel but don't have money now?



If you said "Set a Savings Goal" then you are right! When you set a saving goal, you need to know how much money you want and how much time you have to save for it. Then you need to make a plan.

Ms. Hoffman wants to rent a safari truck in Africa. The truck costs $3,000. She wants to rent the truck starting on July 15, 2014.
  1. If Ms. Hoffman started saving on July 15, 2013, how much would she have to save each month to meet her goal?
  2. If Ms. Hoffman started saving on March 1, 2014 how much would she have to save each month to reach her goal?
  3. If Ms. Hoffman started saving on May 15, 2014, how much would she have to save each week to meet her goal?
  4. If Ms. Hoffman started saving on Jan 1, 2014, how much would she have to save each month to meet her goal? 
What is your saving goal??  Make a plan to meet your goal!

*Check back tomorrow to see the correct answers! (Update: answers here.)