Math-in-CTE Lesson Plan Lesson Title: Ways to Make Money Lesson Number: BU03 Occupational Area: Business and Marketing CTE Concept(s): Income (Salary, Commission, Hourly, Piece Work) Math Concepts: Algebraic Expressions Lesson Objective: Supplies Needed: After completion of this lesson students should understand different methods of job/career financial compensations. Ways to Make Money Note Sheet Ways to Make Money Worksheet 3 Extension Worksheets (Evaluating Algebraic Expressions, Creating Algebraic Equations, Charting Ways to Make Money) Spreadsheet Program (optional) Link to Accompanying Materials: Business/Marketing BU03 Downloads THE "7 ELEMENTS" 1. Introduce the CTE lesson. In class, we have been discussing gross income and net income. Using students’ personal experience, have each describe different types of jobs they have worked. (Waiting tables, bagging groceries, etc) Record brainstorming information on board. Then encourage the students to list the different compensation methods that correspond to the different jobs. Fill in the gaps where appropriate. 2. Assess students’ math awareness as it relates to the CTE lesson. Have students work with partners to decide which of the following two salary scenarios will yield the most income in a 3 year time span: Salary I: Beginning salary of $22,000 with a yearly raise of 4%. Salary II: Beginning salary of $20,000 with a $2,000 raise per year. TEACHER NOTES (and answer key) Be sure to provide definitions for each of the types of pay: Straight salary, hourly wage, commission only, salary plus commission, hourly wage plus commission, piece work, consulting fee, self-employed. ANSWER: Year Salary I Salary II 0 22,000 20000 1 22000+.04(22,000) = $22,880 20000+2000(1) =$22,000 2 22000+4(22,880) = $23,795 20000+2000(2) =$24,000 (Answers rounded) 3 22000+.04(23,795) = $24,747 20000+2000(3) = $26,000 (Answers rounded) 1 Discuss Algebraic Expressions, have students give definition and example, if known. Initially, we would expect to see students using basic arithmetic for computation. We want to get past this. The goal is to guide them into a discussion that includes a generalized formula or algebraic expression. Algebraic Expression: a mathematical phrase that can include operations, numbers and variables. EX: 2x, 4t -1, a, 5r + 12, etc. 3. Work through the math example embedded in the CTE lesson. Hand out Ways to Make Money Note Sheet. Use this to guide the students through the following problems. On overhead: STRAIGHT SALARY STRAIGHT SALARY Number of Additional Years of Schooling or Training 0 Salary Earned Number of Additional Years of Schooling or Training 0 1 1 2 Straight Salary: A high school graduate can make $19000 per year. Any additional years of training or schooling can increase the salary by $4,000 per year. Complete the following table to show salaries of individuals who have the following years of training or schooling. 19,000 +4,000(2) = 27,000 2 5 5 10 10 x x Salary Earned 19,000+4,000(0) = 19,000 19,000 + 4,000(1) = 23,000 19,000 + 4,000(2) = 27,000 19,000 + 4,000(5) = 39,000 19,000+4,000(10) = 59,000 19,000 + 4,000x Step 1: Fill in chart. Watch for pattern, which will help write General Algebraic Expression. Step 2: Write General Algebraic Expression. 2 -“X” represents the number of additional years - Each time (0, 1, 2, 5, 10 hours) we multiplied the number of additional years by the salary increase of $4,000, and added the base salary, $19,000. GENERAL EXPRESSION: 19,000 + 4,000x Step 3: Use this algebraic expression to make predictions for the future. EX: How much money would a person expect to make if they have 15 years of additional training or schooling? x = 15 19,000 + 4,000(15) 19,000 + 60,000 $79,000 Step 4: Use this algebraic expression to write an equation to solve for the variable. EX: If Mark makes $67,000, how many additional years of schooling or training does he have? 67,000 = 19,000 + 4,000x -19000 -19,000 48,000 = 4,000x 4,000 4,000 12 = x 4. Work through related, contextual math-in-CTE examples. On Note Sheet: EX: Hourly Wages Answer: x = hourly pay, h = hours worked, t = overtime hours x(h) + 1.5x(t) 3 5. Work through traditional math examples. EX 1: Two times a unknown number is increased by 6 Evaluate when x = 5 Evaluate if 2x + 6 = 28 EX 2: The perimeter of a square equals 4 times the length of a side. What is the perimeter when s = 5 EX 1: 2x + 6 16 x = 11 EX 2: 4s 20 s = 18 If the perimeter is 64, what is the length of one side? EX 3: Row Number Number of Tulips 0 3 1 6 3 9 4 12 EX 3: 3x 36 x = 29 x How many Tulips are there in row 12? If there are 87 tulips in a row, which row are they in? 6. Students demonstrate their understanding. Answers: Students will complete Ways to Make Money Worksheet with all types of examples. 2. 400 + (0.03)x a. $616 b. 10200 1. .12x a. $510 b. 6835 3. 11(20) + (0.03)x a. $394 b. 8000 4. (0.24)x a. 288 b. 1846 4 Included are Worksheets which provide more practice and extension. 1. Evaluating Algebraic Expressions Worksheet 2. Creating Algebraic Equations Worksheet 3. Charting Ways to Make Money Worksheet (extension) 7. Formal assessment. Unit Test Question: Duane is paid on a piecework basis. He is paid $14.50 for each chair he assembles. Let x = the number of units produced. Answer: a. Write an algebraic expression for his pay. a. 14.50x b. If Duane made $464.00 this week, how many chairs did he assemble? b. 32 5