financial literacy scenario task 1 - the relieving teacher...
TRANSCRIPT
Finan
cial Literacy Scena
rio
Task 1
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $241.50
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
go
shop
ping
at
K-M
art.
Y
ou d
ecid
e th
at y
ou d
on’t
wan
t to
spe
nd m
ore
than
$2
00
.00
.
Th
is i
s w
hat
you
buy
: C
loth
es
$6
2.7
3
Mus
ic
$2
9.9
9
Boo
ks
$15
.00
T
oys
$
43
.72
F
ood
$
20
.00
It
als
o co
sts
you
$2
7.0
0 r
etur
n tr
ip f
or t
rave
lling
cos
ts.
You
hav
e to
rou
nd t
he
tota
l cos
t to
th
e ne
ares
t $
1.0
0.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$5.00 per hour (Gross) for 4 hours (wag
es) LESS 4 %
(4
cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 2
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $549.40
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
r M
um a
nd D
ad a
re f
lat
bro
ke a
nd t
hey
hav
e as
ked
you
for
a l
oan
to h
elp
pay
som
e ex
pens
es. B
ecau
se t
hey
hav
e lo
oked
aft
er y
ou a
t h
ome,
yo
u sa
y th
at t
hey
don
’t h
ave
to p
ay y
ou b
ack
(I s
aid
… t
hey
DO
N”T
hav
e to
pay
you
bac
k ☺
). T
his
is
wha
t th
ey n
eed
to
pay:
• Po
wer
$3
5.0
0
• C
ar R
epai
rs
$12
5.0
0
• Pe
trol
$5
2.0
0
• F
ood
$12
5.0
0
• S
choo
l Tri
p $
15.0
0
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$5.00 per hour (Gross) for 9 hours (wag
es) LESS 4 %
(4
cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 3
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $342.45
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
Ch
ips
Bre
ad
Bis
cuit
s M
eat
Pack
Lo
llies
D
rink
s F
roze
n F
ood
M
agaz
ine
s
$2
.40
$
2.1
5
$2
.90
$
11.4
5
$3
.50
$
7.9
5
$10
.15
$
3.9
5
1.
Wor
k ou
t w
hich
4 t
hing
s co
me
to a
tot
al o
f $
18.2
0
2.
As
wel
l as
the
$18
.20
, you
als
o b
uy t
hre
e m
ore
item
s of
the
che
apes
t it
em t
hat
you
bro
ught
in
(1)
3.
You
als
o as
k th
e te
ller
for
$4
9.0
0 c
han
ge.
4.
To
find
out
th
e na
me
of t
he
supe
rmar
ket
that
you
nee
d t
o w
rite
th
e ch
eque
out
to,
use
the
und
erlin
ed le
tter
s in
th
e pr
oduc
ts t
o na
me
the
su
perm
arke
t (o
ne le
tter
is
mis
sing
whi
ch y
ou w
ill a
lso
hav
e to
put
in y
ours
elf)
.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$5.00 per hour (Gross) for 7 hours (wag
es) LESS 4 %
(4
cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 4
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $342.45
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
wen
t in
to T
OY
Wor
ld a
nd b
ough
t 5
th
ingS
wh
ich
cos
t:$
79
.80
, $16
.95
, .9
5c,
$9
.95
and
$14
3.6
0.
You
Als
o d
ecid
ed t
o sh
out
the
mos
t ex
peN
sive
ite
m f
or y
our
frie
nD.
You
als
o b
uy T
wo
traI
n ti
CK
ets
to c
ome
bac
k h
omE
for
you
and
you
r fr
iend
. IT
cos
tS $
15.6
5 f
or o
ne p
erso
n.
To
find
out
wh
ere
you
mad
e th
e tr
ansa
ctio
n, l
ook
for
the
capi
tal
lett
ers
that
are
not
sup
pose
d t
o b
e w
her
e th
ey
actu
ally
are
. Th
ey w
ill s
pell
out
the
nam
e of
th
e sh
op. R
emem
ber
it
doe
sn’t
inc
lud
e ca
pita
l let
ters
th
at a
re s
uppo
se t
o b
e th
ere
like
nam
es o
f pl
aces
and
at
the
star
t of
a s
ente
nce.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$5.00 per hour (Gross) for 8 ½ hours (wag
es) LESS 4 %
(4 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 5
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $109.40
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
hav
e b
oth
Mum
and
Dad
wh
o ar
e liv
ing
wit
h y
ou in
you
r ow
n h
ome
(you
ow
n it
). T
hey
hav
e b
een
wit
h y
ou f
or a
bou
t a
year
now
and
you
hav
e h
ad e
noug
h o
f th
em.
You
dec
ide
to p
ut t
hem
in
an o
ld f
olk’
s h
ome
for
a w
hile
to
give
you
a b
reak
☺. H
owev
er,
inst
ead
of
telli
ng y
our
pare
nts
that
, you
tel
l th
em t
hat
you
are
sh
outi
ng t
hem
bot
h a
hol
iday
for
a f
ew w
eeks
in
a ni
ce h
otel
. Th
ey a
gree
and
thi
nk it
’s g
reat
. Onc
e th
ey a
re b
ooke
d in
and
pai
d f
or,
they
HA
VE
to
go (
your
pa
rent
s ca
n’t
mak
e an
y ex
cuse
s th
en).
T
he
cost
for
1 w
eek
is $
94
.00
for
one
per
son
(you
onl
y h
ave
to p
ay w
eek
by
wee
k).
You
als
o gi
ve t
hem
an
extr
a $
15.0
0 e
ach.
T
he
old
fol
k’s
hom
e is
43
kilo
met
ers
away
and
th
e co
st f
or t
he
bus
is $
13.0
0 f
or b
oth
of
them
(yo
u d
on’t
tak
e th
em).
Li
st t
he t
otal
cos
t fo
r th
e fi
rst
wee
k’s
expe
nses
. M
ake
up y
our
own
nam
e of
th
e ‘o
ld f
olks
hom
e’ y
ou a
re s
end
ing
them
to.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$5.00 per hour (Gross) for 4 ½ hours (wag
es) LESS 4 %
(4 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 6
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $25.40
Dr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
don
’t h
ave
enou
gh m
oney
unt
il yo
ur n
ext
pay
so y
ou a
sk t
he
ban
k fo
r a
loan
. Th
ey s
ay y
es a
nd g
ive
you
a $
100
.00
loa
n fo
r a
fort
nigh
t.
It h
as a
lso
com
e th
e ti
me
for
the
mon
thly
nor
mal
ban
k fe
es t
o b
e pa
id f
or t
he
oper
atin
g of
you
r ac
coun
t.
Th
e b
ank
fees
are
as
follo
ws:
Lo
an
$
15.5
0
6 c
heq
ues
@
.50
c ea
ch
Ban
k D
uty
(Tax
)
$7
.50
O
verd
raft
int
eres
t
$8
.50
C
heq
ue B
ook
$3
.50
Lo
an b
ack
to t
he
ban
k
$10
0.0
0
You
ch
oose
th
e na
me
of y
our
ban
k.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$7.00 per hour (Gross) for 6 hours (wag
es) LESS 5 %
(5 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 7
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $425.40
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
tak
e ti
me
off
and
go
to S
ky C
ity
for
the
day
. It
will
cos
t yo
u $
11.0
0 t
o ge
t th
ere
from
hom
e on
e w
ay. Y
ou h
ave
to p
ay f
or a
ret
urn
trip
. Y
ou s
pend
$5
0.0
0 o
n b
its
and
pie
ces,
and
$3
7.0
0 f
or l
unch
and
din
ner.
Y
ou d
ecid
e to
tak
e th
e te
ach
er a
nd s
hou
t th
em f
or l
unch
and
din
ner
too ☺
. Wh
ile y
ou a
re t
her
e, y
ou f
ind
out
th
at s
ix
of y
our
frie
nds
hav
e d
one
the
sam
e th
ing
(and
yes
th
e te
ach
er f
ound
out
too
, b
ut t
hey
wer
e su
ppos
ed t
o b
e at
sch
ool
as w
ell
so y
ou a
ll ke
ep i
t a
secr
et-h
aha)
. You
dec
ide
to s
hou
t tw
o m
ore
peop
le l
unch
and
din
ner.
W
hat
was
th
e to
tal c
ost?
Lis
t th
e to
tal a
mou
nt s
pent
on
your
‘Bal
ance
Sh
eet
(Ex
pend
itur
e/D
r)’.
Employ
men
t - T
ax
$7.00 per hour (Gross) for 3 ½ hours (wag
es) LESS 5 %
(5 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 8
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $645.40
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
Bis
cuit
s $
2.6
3
Box
of
Dri
nks
$10
.43
S
ham
poo
$4
.99
Lo
llies
$
2.5
9
Ch
ips
$2
.68
Mea
t Pa
ck
$14
.95
S
eafo
od P
ack
$11
.34
C
hoc
olat
es
$9
.43
C
anne
d F
ood
$4
.94
B
atte
ries
$
9.4
1
Wor
k ou
t w
hic
h 5
ite
ms
com
e to
a t
otal
of
$3
0.9
6 (
a). Y
ou h
ave
just
bou
ght
thes
e 5
ite
ms.
In
ad
dit
ion
you
buy
ano
ther
fiv
e of
th
e m
ost
expe
nsiv
e it
ems
wh
ich
you
hav
e al
read
y b
ough
t ab
ove
(b)
You
als
o b
uy a
noth
er t
hre
e of
th
e le
ast
expe
nsiv
e it
em w
hic
h y
ou h
ave
alre
ady
bou
ght
(c)
You
als
o ta
ke o
ut $
73
.00
cas
h a
nd a
re a
sked
to
roun
d t
he t
otal
cos
t to
the
nea
rest
10
c (d
) Y
ou d
ecid
e th
e na
me
of t
he
supe
rmar
ket
you
go t
o.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$7.50 per hour (Gross) for 4 ½ hours (wag
es) LESS 6 %
(6 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 9
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $806.15
Cr
Pac
n S
ave
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
Ch
ips
$2
.40
B
read
$
2.1
5
Pack
of
Dri
nks
$7
.95
Lo
llies
$
3.5
0
Bis
cuit
s $
2.9
0
Mea
t $
11.4
5
Fro
zens
$
10.1
5
Mag
azin
es
$3
.95
v
Wh
ich
4 t
hin
gs c
ome
to a
tot
al o
f $
17.2
0 (
a)
You
als
o b
uy 3
mor
e of
th
e ch
eape
st i
tem
s th
at y
ou h
ave
alre
ady
bou
ght
abov
e (b
) Y
ou a
lso
ask
for
$4
9.0
0 c
ash
(c)
T
he
nam
e of
the
sup
erm
arke
t is
und
erlin
ed (
use
the
und
erli
ned
let
ters
to
spel
l th
e na
me
of t
he
supe
rmar
ket)
. T
he
lett
ers
are
mix
ed u
p (f
or t
he n
ame
of t
he
supe
rmar
ket)
, so
you
nee
d t
o pu
t th
em i
n or
der
. W
hat
was
th
e to
tal c
ost?
Lis
t th
e to
tal a
mou
nt s
pent
on
your
‘Bal
ance
Sh
eet
(Ex
pend
itur
e/D
r)’.
Employ
men
t - T
ax
$7.00 per hour (Gross) for 4.5 hours (wag
es) LESS 6 %
(6 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 10
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $896.15
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
Ch
ips
$5
.95
Lo
llies
$
3.6
0
Dri
nks
$7
.75
B
read
$
2.5
0
Mea
t $
10.3
5
Spr
ead
s $
7.9
0
Wh
at 4
th
ings
com
e to
a t
otal
of
$2
6.7
0 (
a)
X 5
of
the
mos
t ex
pens
ive
item
you
bou
ght
abov
e (b
) X
2 o
f th
e se
ven
dol
lar
som
eth
ing
item
tha
t yo
u b
ough
t ab
ove
(c)
Ex
tra
cost
s of
$3
7.5
0 (
d)
You
dec
ide
wh
ere
you
bou
ght
the
item
s fr
om.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$7.00 per hour (Gross) for 6.5 hours (wag
es) LESS 6 %
(6 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 11
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous:$
1054.30
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
hav
e ju
st h
ad y
our
pay
cred
ited
int
o yo
ur b
ank
acco
unt
of $
120
0.0
0 +
th
e b
elow
am
ount
in
the
‘Em
ploy
men
t –
Tax
’ sec
tion
. T
he
ban
k (w
ho
is t
he
teac
her
) is
now
goi
ng t
o ch
arge
you
for
a $
70
0.0
0 lo
an y
ou t
ook
out
earl
ier.
T
he
ban
ks r
ate
is 2
0%
of
the
amou
nt y
ou l
oane
d (
$2
0.0
0 f
or e
very
$10
0.0
0 y
ou b
orro
wed
). T
his
is
the
cost
for
bor
row
ing
m
oney
for
a w
eek
(th
e te
ach
er i
s ex
pens
ive)
.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$8.50 per hour (Gross) for 9 hours (wag
es) LESS 8 %
(8
cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 12
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous:$
1356.30
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
hav
e ju
st c
ome
bac
k fr
om T
he
War
ehou
se (
and
you
did
n’t
even
tak
e th
e te
ache
r! �
).
Th
is is
wh
at y
ou b
ough
t:
C
loth
ing
$2
4.9
9
Mus
ic
$14
.95
B
ooks
$
7.4
9
Sw
eets
$2
.49
D
rink
s $
3.2
5
Toy
s $
39
.59
Y
ou a
lso
tell
the
shop
ass
ista
nt i
f yo
u ca
n h
ave
$15
.00
cas
h.
You
hav
e to
rou
nd y
our
tota
l to
the
near
est
dol
lar.
W
hat
was
th
e to
tal c
ost?
Lis
t th
e to
tal a
mou
nt s
pent
on
your
‘Bal
ance
Sh
eet
(Ex
pend
itur
e/D
r)’.
Employ
men
t - T
ax
$9.50 per hour (Gross) for 9.5 hours (wag
es) LESS 8 %
(8 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 13
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous:$
1500.75
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
and
fou
r ot
her
peo
ple
Are
fly
ing
dow
N T
o W
ellin
gton
for
a h
olid
ay.
For
peo
ple
und
er 2
9 y
earS
it
cost
s $
79
.00
, an
d fo
r pe
ople
ove
r 2
9 y
eArs
, It
cos
ts $
83
.00
. T
hre
e pe
ople
are
age
d u
nder
29
yea
Rs,
L a
nd t
wo
peop
le a
re a
ged
ove
r 2
9 y
ears
. Y
ou a
re s
hou
tIN
g th
e tr
ip f
or a
ll fi
vE p
asse
nger
s (i
nclu
din
g yo
urse
lf).
W
hen
you
boo
k th
e tr
ip y
ou a
re t
old
that
it
will
als
o co
st $
1.5
4 p
er p
erso
n fo
r a
boo
king
fee
. Y
ou n
eed
to
roun
d th
e to
tal a
mou
nt t
o th
e ne
ares
t $
10.0
0.
All
the
abov
e ca
pita
l let
ters
th
at s
hou
ldn’
t b
e th
ere,
spe
ll ou
t th
e na
me
of t
he
airl
ine
com
pany
th
at y
ou m
ake
the
tran
sact
ion
to.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$9.40 per hour (Gross) for 5.5 hours (wag
es) LESS 10
% (10 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 14
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous:$
1857.95
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
and
a f
rien
d d
ecid
e to
tak
e a
day
off
sch
ool
and
go
to A
uckl
and
for
the
day
. Y
ou d
ecid
e to
go
by
bus
. Th
e b
us w
ill c
ost
you
$11
.00
eac
h f
or o
ne w
ay (
you
bot
h h
ave
to c
ome
bac
k as
wel
l).
Wh
ile
in A
uckl
and
you
als
o d
ecid
e to
go
to V
illag
e 7
Cin
emas
(m
ovie
s) a
nd R
ainb
ows
End
. C
osts
:
Rai
nbow
s E
nd
$19
.45
eac
h
M
ovie
s
$7
.80
eac
h Y
ou a
lso
take
$2
1.0
0 f
or f
ood
and
oth
er t
hin
gs.
You
hav
e to
ld y
our
frie
nd t
hat
you
will
als
o sh
out
them
eve
ryth
ing
exce
pt f
or t
he
$2
1.0
0 e
xtr
a sp
end
ing
mon
ey.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$9.50 per hour (Gross) for 6.0 hours (wag
es) LESS 9 %
(9 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 15
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous:$
907.20
Dr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
hav
e ju
st f
ound
out
th
at y
ou h
ave
two
child
ren
of y
our
own,
a b
oy a
nd a
gir
l. Y
ou h
ave
bee
n to
ld t
hat
you
hav
e to
pay
th
eir
scho
ol f
ees
for
the
year
. S
choo
l fee
s ar
e $
25
.00
per
ter
m e
ach
(th
ere
are
4 t
erm
s).
In a
dd
itio
n to
the
sch
ool f
ees,
you
als
o h
ave
to p
urch
ase
stat
ione
ry/t
rip
mon
ey f
or t
hem
. T
hes
e in
clud
e th
e fo
llow
ing
(for
eac
h c
hild
):
Mat
hs
boo
k $
1.2
0, L
angu
age
boo
k $
1.10
, N
ote
boo
k $
0.7
0,
Top
ic b
ook
(2)
$1.
10 e
ach
, Pad
$2
.90
, Pe
ns (
3)
$0
.30
eac
h, R
ubb
er $
0.3
0,
Rul
er $
1.10
, Pen
cil (
3)
$0
.35
eac
h,
Sch
ool T
rips
$7
.00
per
ter
m (
ther
e ar
e 4
te
rms)
Y
our
tran
sact
ion
need
s to
incl
ude
bot
h t
heir
sch
ool f
ees
and
oth
er c
osts
(as
list
ed a
bov
e) f
or B
OT
H c
hild
ren.
Y
ou n
eed
to
roun
d y
our
tota
l to
the
near
est
50
cen
ts.
You
ch
oose
the
nam
e of
the
sch
ool.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$10.00 per hour (Gross) for 3.0 hours (wag
es) LESS 9
% (9 cents for every $
1.0
0 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 16
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous:$
3607.50
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
wen
t up
to
Kel
ly T
arlt
ons
in A
uckl
and
for
yet
anot
her
day
off
☺.
Th
e co
st f
or a
day
s pa
ss i
s $
25
.00
T
he
petr
ol c
osts
$2
3.0
0 f
or a
ret
urn
trip
fro
m y
our
hom
e.
You
als
o ta
ke s
pare
mon
ey o
f $
20
.00
T
her
e ar
e 3
of
you
all g
oing
tog
eth
er a
nd y
ou a
re s
hou
ting
all
3 p
eopl
e (t
he
3 i
nclu
des
you
rsel
f).
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$11.00 per hour (Gross) for 10 hours (wag
es) LESS 9 %
(9 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 17
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous:$
4007.50
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
Ch
ocol
ates
$
8.9
9
Woo
l
Mea
t Pa
ck
$14
.53
S
tati
onar
y $
6.7
4
Mis
cella
neou
s $
6.5
4
Sw
eets
$
2.9
2
Boo
ks
$9
.72
C
hip
s $
3.9
9
Wor
ths
Har
dw
are
$16
.99
You
nee
d t
o fi
nd t
he v
alue
of
the
5 t
hing
s ab
ove
that
com
e to
a t
otal
of
(a)
$4
6.4
3. O
ne o
f th
e it
ems
is c
hoc
olat
es.
Fro
m t
he
5 it
ems
you
hav
e al
read
y b
ough
t, y
ou a
lso
buy
ano
ther
4 m
ore
of t
he c
hea
pest
item
(b
), a
nd t
hre
e of
th
e it
ems
wh
ich
cos
t si
x d
olla
rs s
omet
hin
g (c
).
Ad
d t
he
firs
t 5
ite
ms
+ fo
ur c
hea
pest
item
s +
3 o
f th
e si
x d
olla
r so
met
hing
item
s a+
b+c
=$_
__
__
__
It
als
o co
sts
you
$2
6.0
0 t
o go
to
tow
n an
d b
ack
to g
et t
he g
roce
ries
. Gro
ceri
es +
pet
rol =
$_
__
__
__
__
R
ound
you
r an
swer
to
the
near
est
dolla
r.
Th
e na
me
of t
he s
uper
mar
ket
is li
sted
in
the
pric
es.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$11.00 per hour (Gross) for 5.75 (5 ¾ ) hours (wag
es)
LESS 12 %
(12 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 18
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous:$
9898.89
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
dec
ide
to s
hou
t th
e te
ach
er a
nd t
hei
r fa
mily
a d
inne
r ou
t at
a f
lash
res
taur
ant
(th
ey g
ave
you
an A
for
you
r h
omew
ork ☺
).
Wh
at y
ou d
idn’
t kn
ow w
as t
hat
you
r te
ach
er h
as 9
fam
ily m
emb
ers
so it
is
goin
g to
cos
t yo
u a
bit
. Th
ey h
ave
two
adul
ts a
nd 7
ch
ildre
n. 3
of
the
child
ren
are
und
er 8
yea
rs,
and
th
e ot
her
ch
ildre
n ar
e ov
er 9
yea
rs a
nd o
ver.
T
he
cost
s ar
e:
Ad
ults
$2
9.9
0
C
hild
ren
(8 y
ears
and
und
er)
$9
.95
Ch
ildre
n (9
yea
rs a
nd o
ver)
$
12.9
5
Don
’t f
orge
t to
rem
emb
er t
o in
clud
e yo
urse
lf a
nd a
fri
end
you
tak
e, i
n th
e ab
ove
cost
s (y
ou a
re b
oth
ad
ults
).
You
dec
ide
on t
he
nam
e of
th
e re
stau
rant
you
go
to.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$11.00 per hour (Gross) for 8.75 (5 ¾ ) hours (wag
es)
LESS 12 %
(12 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 19
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous:$
8998.98
Dr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
dec
ide
to s
hou
t th
e cl
ass
lunc
h in
tow
n (y
ou a
re o
n a
good
wag
e no
w ☺
).
Th
is i
s w
hat
each
per
son
cost
s:
5-6
yea
r ol
ds
$4
.35
7-8
yea
r ol
ds
$5
.55
9-1
0 y
ear
old
s $
6.1
5
11
-13
yea
r ol
ds
$7
.05
D
on’t
for
get
to i
nclu
de
your
self
(th
e te
ach
er h
as t
o pa
y fo
r th
emse
lf t
his
tim
e, a
lth
ough
you
do
dec
ide
to s
hou
t th
em a
gla
ss o
f w
ater
jus
t to
b
e ni
ce (
you
know
th
e w
ater
is
free
☺).
B
ased
on
how
man
y pe
ople
are
in
your
cla
ss, w
ork
out
how
man
y pe
ople
you
are
pay
ing
for.
If
ther
e ar
e no
peo
ple
in y
our
clas
s in
any
of
the
abov
e ag
es,
then
sim
ply
don
’t i
nclu
de
thos
e pr
ices
. Mak
e up
a n
ame
of t
he
plac
e yo
u ta
ke t
hem
for
lun
ch. T
ry a
nd m
ake
up a
fun
ny n
ame
of t
he
plac
e yo
u ta
ke t
hem
for
lun
ch.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$14.00 per hour (Gross) for 8.5 (8 ½ ) hours (wag
es)
LESS 10 %
(10 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 20
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous:$
8989.98
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
dec
ide
to s
ecre
tly
sell
off
the
Prin
cipa
l and
th
e sc
hoo
l. Y
ou g
et a
goo
d p
rice
for
th
e sc
hoo
l, b
ut t
he
Prin
cipa
l wen
t fo
r a
chea
p pr
ice ☺
. You
tol
d t
he
buy
er t
hat
onc
e so
ld,
the
Prin
cipa
l cou
ld n
ot b
e re
turn
ed a
nd y
ou w
ould
not
ref
und
th
eir
mon
ey f
or t
he
bos
s. T
his
w
as b
ecau
se t
hey
mad
e yo
u d
o to
o m
uch
wor
k ☺
. Th
is i
s w
hat
you
sol
d t
hem
for
: S
choo
l $
37
,60
0.0
0
Pr
inci
pal
$2
00
.00
Pa
rt o
f th
e d
eal w
as t
hat
you
wou
ld b
e gi
ven
10%
of
the
tota
l pri
ce o
f w
hat
you
sol
d t
he
Prin
cipa
l and
Sch
ool
for.
Th
is w
ould
be
paid
in
add
itio
n to
th
e ab
ove
cost
s.
You
had
to
pay
out
the
full
cost
s fi
rst
for
the
dea
l to
go
thro
ugh
. Th
en t
hey
wou
ld g
ive
the
full
amou
nt b
ack
to y
ou n
ext
mon
th.
Wh
at d
id i
t co
st i
n to
tal
for
you
init
ially
to
allo
w S
pong
ebob
Squ
arep
ants
to
buy
th
e sc
hoo
l, yo
ur P
rinc
ipal
and
giv
e yo
ur p
erce
ntag
e al
toge
ther
? Li
st t
he
tota
l am
ount
on
your
‘Bal
ance
Sh
eet
(Ex
pend
itur
e/D
r)’.
Employ
men
t - T
ax
$15.00 per hour (Gross) for 12.5 hours (wag
es) LESS
16 %
(16 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 21
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $653.25
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
r te
ach
er a
llow
s yo
u to
org
anis
e a
mys
tery
bus
tri
p (y
ou c
an o
nly
do
one
thin
g). Y
our
teac
her
is
so k
ind
to
shou
t yo
u to
th
e ac
tivi
ty (
wha
t a
nice
tea
cher
), b
ut y
ou h
ave
to p
ay f
or t
he
bus
and
th
e d
rive
r. T
her
e ar
e th
ree
cost
s as
soci
ated
wit
h y
our
paym
ent.
(1)
th
e d
rive
r, (
2)
the
mile
age,
(3
) in
sura
nces
. You
are
bei
ng c
har
ged
all
“Fla
t R
ates
” ra
ther
tha
n b
y th
e h
our.
H
ere
are
the
cost
s; D
rive
r $
27
0.0
0, M
ileag
e $
215
.50
, In
sura
nce
$16
7.5
0. Y
ou a
lso
hav
e to
pay
GS
T (
12.5
%)
on t
he
tota
l of
th
e th
ree
cost
s.
You
hav
e to
rou
nd t
he
tota
l cos
t to
th
e ne
ares
t .1
0c.
W
hat
was
th
e to
tal c
ost?
Lis
t th
e to
tal a
mou
nt s
pent
on
your
‘Bal
ance
Sh
eet
(Ex
pend
itur
e/D
r)’.
Employ
men
t - T
ax
$40.00 per hour (Gross) for 6 hours (wag
es) LESS 1
2 %
( 12 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
Bas
ed o
n th
e ab
ove
3 c
osts
and
bas
ed o
n h
ow m
any
child
ren
are
actu
ally
in
your
rea
l cl
ass,
wh
at w
ould
be
the
tota
l co
st f
or e
ach
ch
ild (
the
amou
nt e
ach
fam
ily
wou
ld b
e ch
arge
d)?
Tak
e th
e nu
mb
er o
f ch
ildre
n an
d
div
ide
by
the
tota
l co
st. R
emem
ber
to
incl
ude
your
self
.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 22
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $129.85
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
Th
inki
ng b
ack
to t
he
scen
ario
in
Tas
k 2
1, y
ou a
nd t
he
clas
s h
ave
now
ret
urne
d f
rom
th
e tr
ip a
nd y
ou a
ll h
ad a
gre
at
tim
e (e
ven
the
teac
her
was
wel
l b
ehav
ed).
Eve
n th
ough
you
r te
ach
er s
aid
th
ey w
ould
sho
ut t
he
trip
act
ivit
y, y
ou a
ll d
ecid
e it
wou
ld b
e fa
irer
if
you
all
paid
75
% o
f th
e am
ount
for
th
e fo
od a
nd t
he
acti
vity
(ar
en’t
you
won
der
ful
child
ren!
). T
he
teac
her
was
inv
oice
d f
or t
he
follo
win
g am
ount
s; $
37
9.5
0 A
ctiv
ity,
$12
1.3
5 L
unch
, $
67
.25
Aft
erno
on
Tea
on
the
way
hom
e. Y
ou n
eed
to
wor
k ou
t th
e to
tal
amou
nt t
hen
wor
k ou
t 7
5%
of
this
am
ount
to
find
th
e to
tal
the
clas
s w
ill p
ay.
You
hav
e to
rou
nd t
he
tota
l cos
t (o
f th
e 7
5%
) to
th
e ne
ares
t $
1.0
0.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$23.00 per hour (Gross) for 8 hours (wag
es) LESS 9 %
( 9 cents for every $
1.0
0 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
Bas
ed o
n th
e 7
5%
th
e cl
ass
will
pay
, h
ow m
uch
wou
ld
this
be
per
child
in
your
rea
l cl
ass
(div
ide
the
tota
l am
ount
th
e cl
ass
will
pay
(7
5%
) b
y th
e nu
mb
er o
f ch
ildre
n in
you
r cl
ass)
.
Rem
emb
er t
o in
clud
e yo
urse
lf.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 23
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $1539.35
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
hav
e a
wis
h t
hat
com
es t
rue
for
one
sch
ool d
ay o
nly.
Th
is s
ees
you
swap
pla
ces
wit
h y
our
pare
nt/s
. Th
is m
eans
th
at i
nste
ad o
f yo
ur
pare
nt/s
tak
ing
you
to s
choo
l, yo
u ta
ke t
hem
to
your
sch
ool
(you
get
to
be
bos
sy t
oo).
You
r te
ach
er i
s ce
rtai
nly
goin
g to
get
a s
urpr
ise
as t
hey
d
on’t
kno
w a
bou
t th
e sw
ap u
ntil
you
get
to s
choo
l. Y
ou d
ecid
e th
at a
s yo
u on
ly g
et t
o sw
ap f
or o
ne d
ay,
you
are
goin
g to
ch
arge
the
m t
o go
to
sch
ool
bef
ore
the
role
s ch
ange
bac
k (y
ou a
lso
get
cont
rol
of t
hei
r m
oney
for
th
e d
ay b
ut y
ou h
ave
to i
tem
ise
(sh
ow)
how
it
is s
pent
on
an
invo
ice
(a f
orm
sh
owin
g w
hat
it
was
spe
nt o
n). T
his
is
wh
at y
ou c
harg
e yo
ur p
aren
ts f
or;
Tra
nspo
rt t
o an
d f
rom
sch
ool
(yes
you
eve
n ge
t to
d
rive
th
em-
dan
gero
us s
tuff
) $
100
.00
x t
wo
trip
s, L
unch
$15
.00
(b
ut y
ou o
nly
give
th
em a
pac
ket
of 2
min
ute
nood
les
as y
ou s
pend
th
e re
st),
S
tati
oner
y $
67
.00
(yo
u ar
e go
ing
to m
ake
the
teac
her
mak
e th
em w
ork
har
d),
Tip
for
th
e te
ach
er (
luck
y te
ach
er)
$5
00
.00
, S
hop
ping
spr
ee
for
you
(for
all
the
stre
ss o
f ta
king
you
r pa
rent
s to
sch
ool)
$6
00
.00
, 6 m
onth
s su
pply
of
lolli
es (
for
you
of c
ours
e) $
32
1.5
0.
You
hav
e to
rou
nd t
he
tota
l cos
t to
th
e ne
ares
t $
10.0
0.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$27.00 per hour (Gross) for 7 hours (wag
es) LESS 1
5 %
( 15 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
If t
he
role
s w
ere
ch
ange
d b
ack
and
you
r pa
rent
s pa
id a
ll th
e ab
ove
am
ount
s, b
ut o
nly
paid
25
% o
f
the
abov
e ro
und
ed t
otal
am
ount
, w
hat
wou
ld t
he
tota
l co
st b
e t
o yo
ur p
are
nts?
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 24
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $825.30
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
One
of
the
juni
or c
lass
es a
t yo
ur s
choo
l dec
ide
to p
ut o
n a
conc
ert
and
invi
te y
our
clas
s. Y
ou t
hin
k th
at’s
gre
at a
s it
mea
ns
you
get
out
of c
lass
wor
k fo
r an
hou
r (i
t’s
an h
our
long
). Y
ou a
ll go
alo
ng a
nd h
ave
a gr
eat
tim
e d
oing
all
the
Hi-
5 d
ance
s w
ith
th
em. T
he
nex
t d
ay y
ou g
et t
o yo
ur c
lass
and
you
r te
ach
er h
and
s ou
t th
e in
voic
es f
or t
he
conc
ert
(th
e ju
nior
ch
ildre
n ac
tual
ly c
harg
ed y
ou t
o go
alo
ng-t
hey
are
sm
art
juni
or c
hild
ren-
they
got
you
). T
hey
dec
ide
to c
har
ge y
ou f
or e
ach
5 m
inut
e b
lock
s +
GS
T (
thei
r ju
nior
tea
cher
is a
n ex
ban
k m
anag
er).
Th
e co
st w
as $
6.5
0 p
er 5
min
ute
blo
cks
(th
e ju
nior
ch
ildre
n w
ill
be
grea
t ac
coun
tant
s). Y
ou n
eed
to
wor
k ou
t th
e to
tal c
ost
you
will
hav
e to
pay
in t
otal
+ G
ST
. Y
ou h
ave
to r
ound
th
e to
tal c
ost
to t
he
near
est
$10
.00
. W
hat
was
th
e to
tal c
ost?
Lis
t th
e to
tal a
mou
nt s
pent
on
your
‘Bal
ance
Sh
eet
(Ex
pend
itur
e/D
r)’.
Employ
men
t - T
ax
$23.50 per hour (Gross) for 8 hours (wag
es) LESS 8 %
(8 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
Wh
at w
ould
th
e to
tal
cost
bas
ed o
n th
e ab
ove
cost
s if
you
had
to
pay
for
the
wh
ole
clas
s b
ased
on
your
real
cla
ss a
nd t
he
num
be
r of
ch
ildre
n in
it?
R
emem
be
r to
inc
lud
e y
ours
elf.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 25
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $275.90
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
It h
as c
ome
tim
e to
pay
tra
nsac
tion
fee
s to
you
r ba
nk f
or s
ervi
ces
rend
ered
(se
rvic
es t
hey
pro
vid
e an
d t
hat
you
use
d).
Her
e ar
e th
e fe
es a
nd c
osts
for
th
e la
st m
onth
; 15
ch
eque
s at
0.5
0c
each
, 6
7 w
ith
draw
als
eftp
os t
rans
acti
ons
at 0
.25
c ea
ch,
15 A
TM
bra
nch
wit
hdr
awal
s at
0.2
5c
each
, 12
AT
M
non
bra
nch
wit
hdr
awal
s at
0.6
5c
each
(ye
s b
anks
ch
arge
you
mor
e to
use
oth
er b
ank
AT
M’s
), 5
tel
ler
tran
sact
ions
at
$1.
50
eac
h
(som
e b
anks
do
char
ge y
ou t
o go
int
o th
e b
ranc
h a
nd d
o tr
ansa
ctio
ns),
3 e
xtr
a d
epos
its
abov
e fr
ee d
epos
its
at $
1.2
5 e
ach
(ye
s so
me
ban
ks d
o ch
arge
you
to
man
uall
y d
epos
it y
our
mon
ey i
nto
your
acc
ount
), A
ccou
nt f
ee o
f $
7.5
0,
Ove
rdra
ft f
acili
ty o
f $
9.5
0,
Inte
rest
on
loan
of
$4
00
.00
at
21.
50
%,
Inte
rnet
ban
king
8 t
rans
acti
ons
at 0
.25
c ea
ch,
Tex
t B
anki
ng a
t $
18.5
0.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$31.00 per hour (Gross) for 10 hours (wag
es) LESS 11
% (11 cents for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
If a
ll th
e ab
ove
tra
nsac
tion
s w
ere
th
e sa
me
each
m
onth
for
a y
ear
(ex
clud
ing
the
loan
and
th
e
inte
rest
), w
hat
wou
ld b
e th
e a
nnua
l to
tal
cost
s fo
r th
e ye
ar y
ou w
ould
hav
e to
pay
th
e b
ank?
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 26
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Income from
Job
s Cr (Credit)
Income from
Wag
es
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $0.00
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
and
som
e fr
iend
s d
ecid
e on
doi
ng a
com
mun
ity
clea
n-up
by
doi
ng u
p pe
ople
s le
tter
box
es (
pain
t an
d c
lean
) an
d
tid
ying
up
dri
vew
ay k
urb
sid
es (
wee
d-e
atin
g an
d s
pray
ing)
on
peop
les
prop
erti
es i
n yo
ur a
rea.
You
ch
arge
$18
.50
for
a
lett
erb
ox p
aint
and
cle
an,
and
$10
.00
for
a k
urb
-sid
e cl
ean.
In
add
itio
n, y
ou a
lso
offe
r pe
ople
th
e op
port
unit
y fo
r yo
u to
inc
reas
e th
e si
ze o
f th
e le
tter
ing/
num
ber
s on
th
eir
lett
erb
ox (
this
may
be
eith
er t
he s
tree
t nu
mb
er o
r th
e ra
pid
nu
mb
er).
You
ch
arge
an
extr
a $
9.5
0 f
or t
he n
umb
er s
ize
incr
ease
. 12
peo
ple
just
wan
t a
kurb
sid
e cl
ean,
23
peo
ple
wan
t a
lett
erb
ox c
lean
up,
wit
h a
noth
er 1
7 p
eopl
e (o
f th
e 2
3)
also
wan
ting
th
eir
num
ber
s in
crea
sed
in
size
. Pri
ces
are
GS
T i
nclu
sive
(yo
u d
on’t
ad
d G
ST
ont
o th
e pr
ices
).
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
rai
sed
on
your
‘Bal
ance
Sh
eet
(Inc
ome
from
Job
s)’.
Employ
men
t - T
ax
$49.00 per hour (Gross) for 7.5 hours (wag
es) LESS 6.4
% (6.4c ce
nts for every $
1.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
If y
ou d
id t
he
sam
e a
s ab
ove
wit
h p
eop
le o
n 6
d
iffe
rent
str
eets
(w
ith
th
e sa
me
amou
nt o
f pe
ople
in e
ach
str
eet
requ
irin
g th
e sa
me
se
rvic
es a
s ab
ove)
, w
hat
wou
ld y
our
tota
l in
com
e b
e?
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 27
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $121.50
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
r te
ach
er h
as s
aid
sin
ce y
ou h
ave
bee
n w
orki
ng s
o h
ard
at
sch
ool t
hey
are
goi
ng t
o gi
ve y
ou a
fre
e ce
llph
one
(mob
ile
phon
e) a
nd c
ompu
ter
(luc
ky y
ou).
How
ever
it i
s up
to
you
to o
rgan
ise
wh
at p
lan/
type
of
cont
ract
and
wit
h w
hat
com
pany
you
ar
e go
ing
to c
onne
ct w
ith
. You
dec
ide
to g
o in
to a
12
mon
th c
ontr
act
rath
er t
han
pre
-pay
(if
you
pul
l out
bef
ore
the
end
of
the
cont
ract
you
sti
ll h
ave
to p
ay t
he
cont
ract
mon
thly
fee
s (t
hat
is w
hat
a c
ontr
act
is w
hic
h is
wh
y it
is im
port
ant
to k
now
w
hat
you
are
sig
ning
). T
he
follo
win
g ar
e w
hat
you
r m
onth
ly c
osts
are
; C
ontr
act
mon
thly
fee
s $
24
.95
, In
tern
et $
29
.95
, T
ext
Mes
sage
s .2
0c
for
each
tex
t se
nt (
you
will
be
send
ing
35
0 t
exts
per
mon
th).
Th
ese
are
all G
ST
(12
.5%
) ex
clus
ive
(you
h
ave
to p
ay G
ST
on
top
of t
he
amou
nts)
. W
hat
was
th
e to
tal c
ost?
Lis
t th
e to
tal a
mou
nt s
pent
on
your
‘Bal
ance
Sh
eet
(Ex
pend
itur
e/D
r)’.
Employ
men
t - T
ax
$1.00 per hour (Gross) for 36 hours (wag
es) LESS 3 ½
% (3.5 cents for every $
1.0
0 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
If 5
0%
of
the
child
ren
in y
our
real
cla
ss
wen
t on
th
e sa
me
plan
as
you
(th
e sa
me
cost
s as
sh
own
abov
e),
wh
at w
ould
th
e to
tal
expe
nse
for
the
year
be?
C Stevenson – [email protected]
Air
Far
es (
retu
rn t
icke
ts):
15
ad
ults
@ $
69
7.0
0ea
ch (
ea),
89
ch
ildre
n @
$4
21.
00
ea
Acc
omm
odat
ion:
15
ad
ults
@ $
115
.00
ea f
or t
he
7 n
ight
s, 8
9 c
hild
ren
@ $
45
.00
ea f
or t
he
7 n
igh
ts
Fun
Par
k: 1
5 a
dul
ts @
$4
0.0
0ea
, 89
ch
ildre
n @
$2
9.0
0ea
F
ood
tot
al f
or e
very
one
for
the
wh
ole
trip
: $
167
2.0
0
Tra
nspo
rt f
or e
very
one
for
the
7 d
ays:
$9
63
.00
Finan
cial Literacy Scena
rio
Task 28
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income from
your
winnings
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $00.00
Cr
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
You
hav
e ju
st b
een
told
by
som
eone
th
at y
ou h
ave
won
1st
Div
isio
n Lo
tto.
You
are
so
exci
ted
th
at y
ou t
ell t
he
sch
ool t
hat
you
are
go
ing
to s
hou
t ev
eryo
ne (
even
th
e te
ach
ers)
for
a t
rip
to t
he
Gol
d C
oast
in
Aus
tral
ia (
you
are
so k
ind
). Y
ou a
re a
lso
shou
ting
you
r fa
mil
y w
ho
brou
ght
you
the
tick
et. U
nfor
tuna
tely
you
do
all t
his
and
boo
k an
d pa
y fo
r al
l th
e co
sts
(wh
ich
are
all
non
refu
ndab
le)
bef
ore
you
get
your
tic
ket
chec
ked.
Alt
hou
gh y
ou d
id w
in 1
st D
ivis
ion
and
th
e pr
ize
was
$9
00
,00
0.0
0 (
just
und
er 1
mill
ion)
, th
ere
wer
e an
oth
er 1
4 p
eopl
e (1
5 in
clud
ing
you)
wh
o al
so w
on 1
st D
ivis
ion
and
th
e pr
ize
then
get
s sp
lit b
etw
een
all o
f yo
u. T
hus
you
ac
tual
ly h
ave
won
a lo
t le
ss t
han
you
th
ough
t. N
ow y
ou h
ave
to f
ind
out
wh
eth
er y
ou h
ave
won
eno
ugh
to
pay
for
the
trip
. Bas
ed
on t
his
sce
nari
o, a
nd u
sing
th
e co
sts
show
n b
elow
, how
muc
h m
oney
wou
ld t
he
trip
act
uall
y co
st?
List
th
e to
tal a
mou
nt y
ou w
ould
get
fro
m y
our
win
ning
s on
you
r ‘B
alan
ce S
hee
t (I
ncom
e/C
r)’.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 29
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $145.00
Cr
$
$
$
Write out the
total amount of yo
ur closing balan
ce in words below
:
As
you
are
now
com
ing
tow
ard
s th
e en
d o
f yo
ur s
choo
l ye
ars
(you
’re
gett
ing
old
now
☺),
you
r pa
rent
/s d
ecid
e to
sh
out
you
eith
er a
car
or
an
AT
V (
All
Ter
rain
Veh
icle
). H
owev
er,
they
will
onl
y pa
y fo
r 5
0%
of
the
vehi
cle
and
you
hav
e to
pay
for
any
fur
ther
cos
ts a
ssoc
iate
d (
part
of)
th
e pu
rch
ase
pric
e if
you
put
it
on H
.P (
Hir
e Pu
rch
ase=
gett
ing
the
veh
icle
wit
h f
inan
ce).
As
you
are
thin
king
mor
e no
w a
bou
t h
ow c
osts
get
ou
t of
con
trol
(lo
okin
g at
th
e fu
ture
), y
ou d
ecid
e to
wor
k ou
t th
e co
sts
bef
ore
putt
ing
it o
n H
.P/
bef
ore
you
mak
e th
e d
ecis
ion
(you
r pa
rent
/s
are
impr
esse
d w
ith
this
dec
isio
n). T
he
cost
s to
put
th
e ve
hic
le o
n H
.P a
re:
Veh
icle
$8
99
5.0
0 (
rem
emb
er y
our
pare
nt/s
will
pay
50
% o
f th
is),
In
tere
st o
n th
e re
mai
ning
50
% b
alan
ce t
o b
e fi
nanc
ed a
t 2
2.5
0%
for
12
mon
ths
(you
’ll h
ave
to r
ound
the
am
ount
to
the
near
est
cent
), A
A
Bre
akd
own
Ser
vice
$8
9.0
0,
Cre
dit
Che
ck $
25
.00
, F
inan
ce A
dm
inis
trat
ion
Fee
$2
19.0
0,
Est
abli
shm
ent
Fee
$3
50
.00
, C
ompu
lsor
y In
sura
nce
(usu
ally
ver
y ex
pens
ive
for
und
er 2
5 y
ear
old
s).
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
on
your
‘Bal
ance
Sh
eet
(Ex
pend
itur
e/D
r)’.
Employ
men
t - T
ax
$16.50 per hour (Gross) for 10 hours (wag
es) LESS 9 ½
% ($9.50 for every $
100.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Write this in the
‘In
come’ on yo
ur balan
ce she
et.
1.
Ho
w m
uch
are
you
payi
ng in
ext
ra fe
es fo
r us
ing
H.P
co
mpa
red
to p
ayin
g th
e fu
ll a
mo
unt
in c
ash
? T
hat
is,
if y
ou
wa
ited
and
save
d th
e ot
her
50%
for
the
vehi
cle,
ho
w m
uch
are
yo
u go
ing
to s
ave
in f
ees?
2.
S
o, d
o yo
u bu
y th
e ve
hicl
e o
n H
.P, o
r do
yo
u w
ait
and
save
the
re
st?
Just
ify/d
iscu
ss w
hy y
ou
wo
uld
mak
e th
at d
ecis
ion.
C Stevenson – [email protected]
Finan
cial Literacy Scena
rio
Task 30 - Final
Your Balance
She
et / R
ecord of T
ransactions
Date
Cheq
ue,
Cash, Credit
Card, EftPos
Particulars
(What it was for/W
ho was it to?)
Expe
nditure
Dr (D
ebit)
Income/
Dep
osit/W
ages
Cr (Credit)
Closing Balance
Dr/Cr
Previous: $00.00
Cr
$
$
$
Below
are som
e of the
terms an
d lan
guag
e used
to do with money
. Discuss and
/or ex
plain their mea
nings an
d uses.
It i
s no
w t
he
end
of
the
year
and
you
r te
ach
er d
ecid
es t
o sh
out
the
wh
ole
sch
ool
out
to d
inne
r af
ter
the
sch
ool c
once
rt. T
hey
te
ll yo
u th
at it
is
only
bre
ad,
wat
er a
nd w
orm
s fo
r th
e ki
ds,
but
you
kno
w t
hey
are
jok
ing,
or
at le
ast
you
hop
e th
ey a
re j
okin
g.
Bel
ow i
s w
hat
it
will
cos
t yo
ur t
each
er t
o sh
out
ever
yone
(th
ey w
ere
brok
e af
ter
all t
he
scen
ario
s). T
her
e w
ere
79
ch
ildre
n an
d
16 a
dult
s.
Mai
n C
ours
e M
eals
: A
dul
ts $
17.5
0ea
, C
hild
ren
$7
.50
ea
D
esse
rts:
Ad
ults
$9
.95
ea,
Ch
ildre
n $
3.9
5ea
Dri
nks:
Ad
ults
$12
.00
ea,
Ch
ildre
n $
3.0
0ea
5
ch
ildre
n d
idn’
t h
ave
des
sert
and
2 a
dul
ts d
idn’
t h
ave
a m
ain
mea
l. Y
ou a
lso
need
to
add
on
GS
T (
12.5
%)
to t
he
tota
l cos
t.
You
hav
e to
rou
nd t
he
tota
l cos
t to
th
e ne
ares
t $
5.0
0.
Wh
at w
as t
he
tota
l cos
t? L
ist
the
tota
l am
ount
spe
nt o
n yo
ur ‘B
alan
ce S
hee
t (E
xpe
ndit
ure/
Dr)
’.
Employ
men
t - T
ax
$15.00 per hour (Gross) for 2080 hours (Annua
l wag
es)-
(40hrs p/w
x 52 w
eeks) LE
SS 1
9.5 %
($19.5
0 for every
$100.00 earne
d) TAX.
Income
Gross (ea
rned
) $_____ - T
ax $
_____
= N
et $
__________ (actual amount)
Cre
dit,
Def
icit,
O/D
, In
the
red,
In th
e bl
ack
, GS
T, I
ncl
usiv
e, E
xclu
siv
e, T
ax,
Inco
me,
Exp
endi
ture
, Fee
s, In
tere
st r
ate
s (b
oth
wh
en b
uyi
ng s
uch
as
25%
off,
as
wel
l as
wh
en
buyi
ng
som
eth
ing
on H
.P),
Rou
ndi
ng,
Dec
ima
l Poi
nts,
Per
cent
age
s, %
, H
.P, P
ositi
ve,
Neg
ativ
e, I
RD
, T
hin
kin
g a
bout
is b
uyi
ng
on H
P w
orth
the
extr
a c
osts
as
thes
e ra
tes
are
ofte
n v
ery
hig
h an
d by
th
e tim
e yo
u h
ave
pai
d it
off,
you
ha
ve p
aid
muc
h m
ore
than
if y
ou h
ad
paid
ca
sh fo
r it,
RW
T, N
on
-ref
unda
ble,
Fix
ed C
ontr
act
s, P
repa
y, S
ervi
ces
Ren
dere
d, E
ftPos
, A
TM
, In
vest
men
ts, I
nvo
ices
, 3
½ v
ers
us 3
.5, 9
k ve
rsus
900
0, T
ax
Ret
urn
s, T
erm
Acc
oun
ts,
Sha
res,
Bon
ds,
Bre
aki
ng a
con
tra
ct.
Can
you
thi
nk
of a
ny
mor
e?
You
ha
ve t
he
follo
win
g sa
vin
gs in
diff
eren
t ter
m a
ccou
nts
(y
ou’r
e ri
ch).
Ba
sed
on
each
am
oun
t, h
ow m
uch
inte
rest
will
the
ban
k pa
y yo
u fo
r ea
ch a
mou
nt a
t th
e en
d of
th
e te
rm it
is in
vest
ed f
or?
You
ha
ve t
o m
ake
sur
e yo
u de
duct
RW
T R
esid
ent
With
hol
din
g T
ax
(19.
5%)-
yes
thes
e ar
e re
al ta
xes
(eve
ryt
hin
g is
tax
ed a
nd y
ou h
ave
to
com
e to
ter
ms
with
thes
e m
any
taxe
s a
s yo
u ge
t ol
der
). 2
K m
ean
s $2
000.
00
1.
$2K
@ 8
.5%
= $
?? L
ess
RW
T T
ax
= $
act
ual i
nter
est y
ou r
ecei
ve
2.
$10K
@ 9
.4%
= $
?? L
ess
RW
T T
ax
= $
act
ual i
nter
est
you
rec
eive
3.
$8
900.
00 @
8.9
% =
$??
Les
s R
WT
Ta
x =
$ a
ctua
l in
tere
st y
ou r
ecei
ve
C Stevenson – [email protected]