CONGRATULATIONS! You have WON!!! You have won $1,000,0000 How would you like to spend it? You may spend it on ANYTHING you want. But as always, there are a few conditions.
The fine print You must spend one million dollars to the exact cent. You cannot buy more than one of any item. E.G. You cannot buy two houses or two cars. You must cut every item you purchased out from a catalogue, newspaper or internet with costs or receipts. All ‘cut outs’ must have the price clearly marked. All of you working out must be done in your workbook and show your understanding of trading. Prices need to be added up on an Excel spreadsheet, that ends with the eventual balance of zero dollars. You could purchase items at random or follow a common theme. Eg. Setting up a house or going on a holiday.
Step One: Create a budget. Item NumberItem DescriptionItem Cost Total Cost This is a list of the items that you would like to buy and an estimation of their cost. Don’t forget to work out the total cost of all of the items.
Step Two: Go Shopping! This is the fun part! Begin with the ‘big ticket’ items. Make sure you cut out the item and that price is clearly marked. You may use newspapers, magazines and catalogues. You may also use the internet at home. Test your estimation skills Complete your shopping before you do any of your working out. See how close you can get to your $1,000,000 budget.
Step Three: Calculating You will need to keep track of your spending by subtracting the cost of each item as you go. You must show your ability to subtract with borrowing. Hint… You will be able to double check your work by completing the ‘inverse operation’. This means adding up the cost each item $1,000,000 - $2,995Swimming pool $997,005Subtotal
Step Four: Keeping a Record You will need to keep a record of your spending in your Maths book. When you have finished… You mayn input all of your spending into Microsoft Excel You will need to use the ‘Auto Sum’ function to add up the cost of all of your items. Your teacher will be able to help you with this Item NumberItem DescriptionItem Cost Total Cost
Assessment At the end of this project you will be able to: Make an informed estimation of the total cost of a set of items. Add and subtract using money and decimals (using trading). Discuss the meaning of difference and how to work out how much you have left to spend. Use MS Excel to represent and calculate data.