Name17.5

?

Personal Financial

Literacy—5.10.D

Also 5.3.K

MATHEMATICAL PROCESSES

5.1.A, 5.1.E, 5.1.F

Keeping Records

Essential Question

How can you keep track of finances?

A good way to manage finances is to keep track of the money received, paid, and available.

Unlock

Unlock the

the Problem

Problem

Hannah made a chart to keep track of her money. She records her

allowance, savings, earnings, and other expenses. Income is added,

expenses are subtracted. Use the notes at the right to complete her chart.

Include the available funds after each addition or subtraction. How much

does Hannah have left at the end of the month?

Hannah’s Financial Record: Month of May

Date

Description

Received ($) Expenses ($)

Balance: end of April

Available

Funds ($)

0

5/4

babysitting

20

20

5/6

allowance

10

30

5/6

save

5/8

3 music downloads

5/13

allowance

5/15

snack bar

5/20

allowance

5

May 18:

baby-sit $15

May 19

movies $6.50

May 25

mow la wns

$15

fruit snack $3.997

Mayy 27

ool trip,

May 30 Sch

4.75

sou venir $1

2.97

10

1.25

10

Math Talk

© Houghton Mifflin Harcourt Publishing Company

Mathematical Processes

5/27

allowance

10

Explain why savings are

treated as an expense in

Hannah’s chart.

At the end of the month, Hannah has __ left.

Module 17

641

Share

Share and

and Show

Show

Jack keeps a record of his money in July. Use his record for 1–3.

Date

Description

Received ($) Expenses ($)

Balance: end of June

7/2

yard work

7/3

fruit juice

7/5

ticket to museum

Available Funds ($)

0

15.50

15.50

1.75

13.75

1. Jack pays $7.65 for a ticket to a museum on July 5. How much will he have

in available funds after he buys the ticket?

• Circle the available funds Jack has before buying the ticket.

Subtract the price of the ticket from the available funds.

__ − __ = __

• Record the price of the ticket and the new available funds in the chart.

2. Jack earns $24.00 washing cars on July 8.

Complete the next row in the chart to show

this information. How much does Jack have in

available funds now?

3. On July 12, Jack gets $15 allowance and spends

$4.95 for baseball cards. Complete the chart to

show this information. How much does Jack

have in available funds now?

Problem

Problem Solving

Solving

Math Talk

642

What’s the Error? Ana’s financial record shows

that she started May with $13.09. On May 4, she earned

$18 babysitting and saved $5. Her aunt gave her $10 on May 10.

She spent $2.75 for a yogurt bar on May 13. Her record now

shows available funds of $43.34. What is Ana’s error?

Mathematical Processes

Why is organizing information

in a chart a better way to keep

track of finances than notes on

scraps of paper?

© Houghton Mifflin Harcourt Publishing Company

4.

Name

Problem

Problem Solving

Solving

Ryan has a dog-walking business. Use the financial

information about his business for 5–7.

5.

rs –

payment from dog owne

$129 – March 3

buy do

g biscu

its $45.98

– Marc

h9

Multi-Step Ryan’s goal

is to always have $50 or more in available

funds. Complete the chart. Did Ryan

achieve his goal during the month of

March? Explain.

buy leashes $64.25 March 12

payment fr

f om

dog owners $96 – March 18

pay helper $140 – March

20

Date

Description

Balance: March 1

Received ($) Expenses ($)

Available

Funds ($)

50

m

payment fro

dog o wners

r h 26

106 – Marc

$10

buy d

o

$84.5 g food 0-M

arch

28

6. Explain how you can identify Ryan’s expenses by only looking at the

© Houghton Mifflin Harcourt Publishing Company

available funds column.

7. Multi-Step Ryan receives another payment from the dog owners on

March 31. He also spends $25 on dog treats that day. If Ryan ends the

month with $86.27 in available funds, how much money did he get

from the owners on March 31? _____

Module 17 • Lesson 5

643

Mathematical Processes

M

Model ¥ Reason ¥ Communicate

M

Daily

Daily Assessment

Assessment Task

Task

The chart shows Lisa’s finances during the first week in August. Use the

chart for 8–10. Fill in the bubble completely to show your answer.

Date

Description

Received ($) Expenses ($) Available Funds ($)

Balance: end of July

8/1

allowance

8/2

orange juice

8/3

planting flowers

8/4

comic books

0

12

12

2.29

?

9.71

25.96

11.65

14.31

8. Analyze How much does Lisa earn planting flowers?

A

$25.96

C

$12.00

B

$16.25

D

$35.67

9. Which expression shows how to find the amount of money Lisa has in

available funds after she buys orange juice?

A

$12 + $2.29

C

$9.71 − $2.29

B

$25.96 − $2.29

D

$12 − $2.29

10. Multi-Step Lisa wins a $25-door prize at a party on August 5. She

spends $5.40 for new markers on August 6 and $18 for a soccer ball on

August 7. What are her available funds now?

A

$21.31

C

$15.91

B

$39.31

D

$33.91

TEXAS Test Prep

lawns and gets an allowance from his parents. His expenses for the

month were $20.65. If Jacob ends the month with $44.35 in funds, what

is his monthly allowance?

644

A

$30.00

C

$15.00

B

$44.35

D

$45.00

© Houghton Mifflin Harcourt Publishing Company

11. Jacob starts June with $20 in available funds. He earns $30 for mowing

Personal Financial Literacy—5.10.D

Also 5.3.K

MATHEMATICAL PROCESSES 5.1.A, 5.1.E, 5.1.F

H o mewo rk

and Practice

17.5

Name

Keeping Records

Kimiko makes crafts to sell at a festival in July. Complete the chart using the

notes at the right. Use the information for 1−2.

Date

Description

Received ($) Expenses ($)

Available

Funds ($)

Balance: July 1

July 2:

purchase craft

supplies $27.95

JJuly

l 5:

ppay bo

b oth fee

$15

45

July 14:

earn $125

from craft sales

July 15:

earn $52 from craft

sales

July 18:

pay friend for helpping

at booth $25

Julyy 22:

purchasse crafftt

supplies

1. Write an equation to show how to calculate the amount Kimiko

has in available funds after purchasing supplies on July 2. ____

2. Explain how Kimiko can calculate her total expenses for July. What were

Kimiko’s total expenses?

Problem

Problem Solving

Solving

Use the information from the chart above for 3−4.

© Houghton Mifflin Harcourt Publishing Company

3. Are Kimiko’s available funds greater on July 1 or on July 22? Explain.

4. Kimiko has $15 in additional expenses on July 28. How much more

will she need to earn if she wants to have $200 in available funds at the

end of July? ____

Module 17 • Lesson 5 645

TEXAS Test Prep

Lesson

Lesson Check

Check

Fill in the bubble completely to show your answer.

5. The chart shows Micah’s finances during the first week in May. He earns

$25 for babysitting on May 8. He buys another book on May 12 for $9.49.

Date

Description

Received ($) Expenses ($)

Available

Funds ($)

Balance: May 1

5/4

allowance

5/7

purchase book

0

15

15

12.95

2.05

How much does Micah have in available funds now?

A

$36.54

C

$15.51

B

$27.05

D

$17.56

Heather sells baked goods. The chart shows Heather’s finances for the

beginning of June. Use the chart for 6−9.

Description

Received ($) Expenses ($)

Available

Funds ($)

Balance: June 1

0

6/2

cupcake sales

18.50

18.50

6/3

pie sales

26.74

45.24

6/4

pay for advertising

6/5

pay for supplies

6. How much does Heather spend on

advertising?

A

$28.99

C

$16.25

B

$5.02

D

$23.75

8. Multi-Step What is the difference between

Heather’s expenses and her earnings?

646

?

28.99

23.97

5.02

7. Which expression shows how to find the

amount in available funds after Heather sells

some pies on June 3?

A

$26.74 − $18.50

C

$45.24 − $26.74

B

$18.50 + $26.74

D

$45.24 + $26.74

9. Multi-Step Heather sells cookies for

A

$5.02

B

$21.27

$14.85 on June 6. She spends $8.99 for packing

supplies on June 7 and $5.19 for ribbon

on June 8. What are Heather’s available

funds now?

C

$2.77

A

$5.69

C

$19.87

D

$7.72

B

$0.67

D

$5.86

© Houghton Mifflin Harcourt Publishing Company

Date

Name

17.4

?

Personal Finance

Literacy—5.10.C

MATHEMATICAL PROCESSES

5.1.E

Paying Bills

Essential Question

What are the advantages and disadvantages of

different ways to pay bills?

You go into a store and see something you want to buy. Should you pay with

cash, the money in your wallet, or another way?

A check is a written order asking a bank to pay a certain amount from your

account. Sometimes it takes several days for a bank to pay the amount on a

check. In your checkbook, there is a place to record how much you have and

how much you spend.

A credit card is an identification card issued by a bank that allows a user to

buy items and services immediately and pay the cost at a later time. The bank

might charge the user interest in exchange for the use of the money.

A debit card is an identification card issued by a bank that allows a user to

immediately use money from an account. You have a personal identification

number (PIN) to keep it safe.

Unlock

Unlock the

the Problem

Problem

Mrs. Pastella wants to buy an easel for $100 at

a store. She has no cash with her. Complete the

table below to help her determine the method of

payment she should use.

Write the letter of the statements to show the

advantages and disadvantages of each method.

A statement can go in more than one place.

Advantages

© Houghton Mifflin Harcourt Publishing Company

Check

Disadvantages

A. PIN can make it secure

I. Can buy now and pay later

B. May owe more money

than I can pay back

J. Need to remember PIN

C. Could be bulky to carry

K. Need to have enough in

my account

D. Less likely to overspend

L. Could lose the card

E. Takes time to write it out

M. Can run out of checks

F. Convenient and easy to

carry around

G. Provides a space to

record expenses

H. Easy to forget to record

how much I spend

N. May have to pay interest

O. Could be stolen

Credit Card

Debit Card

Module 17

635

Example 1

Sometimes it is not possible to use cash or a check. In such cases, you can

use a credit card or one of several methods of electronic payment. These

methods are especially useful when you shop online.

Some companies offer money transfer services to send money

immediately from your account to the seller. There is usually a

fee for the service.

Some sellers let you pay the cost in several parts. You set up automatic

payments that transfer a set amount of money from your account at

specific times. You usually pay a fee for spreading out the payments.

Automatic payments are also useful for bills that occur regularly.

Write the letter of the statements to show the advantages and

disadvantages of each method of payment. A statement can go

in more than one place.

Advantages

A. Useful for monthly bills

B. Can buy now and pay

later

C. May have to pay a fee or

interest

D. Convenient and easy to

carry around

E. May forget that a

payment will be made

F. Fast way to send money

G. May owe more money

than I can pay back

H. Need to have enough in

my account

I. Could be stolen

Disadvantages

Credit Card

Money

Transfer

Automatic

Payments

Share

Share and

and Show

Show

PRICE OF A COMPUTER

payments:

C-Mart Computer Store:

Cash:$625

4 × __ + 4 × __ = __ + __

ComputerWorld.com

= __.

2. The total cost of buying a computer online using a credit card:

__ + __ = __

Math Talk

Mathematical Processes

Which method would you use to

buy the computer and why?

636

Automatic Payments:

4 easy payments of

$150 + $10 fee per payment

Credit Card: $575 + Interest*

*Interest: $50

© Houghton Mifflin Harcourt Publishing Company

1. The total cost of buying a computer online using automatic

Name

Problem

Problem Solving

Solving

3. Apply Name one method of payment that allows you to use money

in your account and one method that alows you to pay the amount

at a later time.

4.

Analyze What are the advantages and

disadvantages of the methods you chose in Exercise 3?

Problem

Problem Solving

Solving

5.

Multi-Step Ty researches

how much he would pay if he used various

methods of payment to buy a chemistry set.

If he pays $0.10 in interest for every dollar

on his credit card, which method should

he use to buy the chemistry set? Explain.

Price of a Chemistry Set

ABC Toys

Cash: $175

Check or Debit Card:

$175 + $5 processing fee

Books.com (free shipping!)

Automatic Payments:

4 payments of $30 + $40 fee

© Houghton Mifflin Harcourt Publishing Company

Credit Card: $150 + interest

6. Liam’s bank pays the amount on a check five days after it

is written. If Liam wants to make a payment immediately,

which method of payment could he use? Explain.

Module 17 • Lesson 4

637

Mathematical Processes

M

Model ¥ Reason ¥ Communicate

M

Daily

Daily Assessment

Assessment Task

Task

Fill in the bubble completely to show your answer.

7. Jen wants to buy a camera. Which method will let her buy now and

pay later?

A

check

B

cash

C

credit card

D

money transfer

8. Antoine owes $684. He can make six monthly automatic payments with

a $2.50 fee for each payment, or he can pay using a credit card. If he uses

his credit card, he will pay $30 in interest. How much money does he

save by using automatic payments?

A

$15

C

$116.50

B

$114

D

$16

9. Multi-Step Lester buys a sofa for $560. He pays $200 first and pays the

rest over 6 months using automatic payments. How much will he pay

each month?

A

$360

B

$60

C

$93.33

D

$126.67

TEXAS Test Prep

638

A

You can buy now and pay later.

B

The money is transferred immediately.

C

You can pay using money in your account.

D

You may have to pay interest on the amount.

© Houghton Mifflin Harcourt Publishing Company

10. Which of the following is an advantage of using a check to pay bills?

H o mewo rk

and Practice

17.4

Personal Financial Literacy—5.10.C

MATHEMATICAL PROCESSES 5.1.E

Name

Paying Bills

Angelina made a chart to compare the cost of buying a game

console using different payment methods. Use the chart for 1–4.

1. The total cost of buying a game console at Ed’s Discount

PRICE OF A GAME CONSOLE

Ed’s Discount Store: $229

Store is __.

2. The total cost of buying a game console online using

automatic payments: _ × ( _ + _ ) = _

3. The total cost of buying a game console using a

GameStore.com (free shipping)

Automatic Payments:

3 payments of

$75 + $5 per payment

Credit Card:

$219 + $10.95 interest

credit card: _ + _ = _

4. Why might Angelina choose to purchase the game console

using a more expensive payment method?

Problem

Problem Solving

Solving

5. Jada researches various methods of payment to buy a video

© Houghton Mifflin Harcourt Publishing Company

game. If Jada pays $0.03 in interest for every dollar on her

credit card, which method will be the least expensive? Which

method is the most expensive?

PRICE OF A VIDEO GAME

Paula’s Game Store

Cash: $49

Check or Debit Card:

$49 + $5 processing fee

Games.com (free shipping)

Automatic Payments:

2 payments of

$26 + $2 per payment

6. Oliver pays $0.05 interest for every $1 he spends using his credit

card. Explain how he can use mental math to find the total cost

of a $300 tablet computer.

Credit Card: $48

Module 17 • Lesson 4

639

TEXAS Test Prep

Lesson

Lesson Check

Check

Fill in the bubble completely to show your answer.

using a debit card as your payment method?

A

You can buy now and pay later.

B

A personal identification number helps

keep your account safe.

C

It is convenient to carry around.

D

You are less likely to overspend.

9. Multi-Step Charlotte wants to buy some

books online that have a total cost of $162. She

plans to make six equal monthly payments.

Each month, she will be charged a $1.75

processing fee. How much will Charlotte pay

each month?

A

$27.00

B

$25.25

C

$28.75

D

$27.75

11. Multi-Step Enrique buys a jacket for $35

640

8. Harrison pays $0.02 in interest for every $1

that he spends on his credit card. How much

interest will Harrison pay on the purchase of a

$78 camera bag?

A

$1.40

B

$1.56

C

$15.60

D

$79.56

10. Multi-Step Ethan wants to buy a new

watch that costs $112. He pays $0.04 in interest

for every $1 that he spends on his credit

card. How much will Ethan save by paying

with cash?

A

$2.80

B

$1.04

C

$0.45

D

$4.48

12. Multi-Step Paige finds a printer for $148 at an

and pants for $29. Sales tax is $0.07 for every

dollar of the purchase price. He pays a $2.75

processing fee for paying with a check. How

much will Enrique pay for his purchases?

online store. The cost of shipping the printer is

$20. If Paige plans to make four equal monthly

payments for the total cost, how much will she

pay each month?

A

$71.23

A

$37

B

$68.48

B

$42

C

$71.42

C

$32

D

$66.75

D

$40

© Houghton Mifflin Harcourt Publishing Company

7. Which of the following is NOT an advantage of

The price is based on these factors:

Academic level

Number of pages

Urgency

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- Free title page and bibliography
- Unlimited revisions
- Plagiarism-free guarantee
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On-demand options

- Writer’s samples
- Part-by-part delivery
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Paper format

- 275 words per page
- 12 pt Arial/Times New Roman
- Double line spacing
- Any citation style (APA, MLA, Chicago/Turabian, Harvard)

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