AMDM Essential Questions
With CCGPS standards referenced

for

P. Wilson and P. Hunter-Dempsey

 

Unit VI Decision Making in Finance

 

Chapter 1:  Gross Pay (MAMDMA 3b)

How do I compute my gross pay?

How are wages and salaries computed?

 

Chapter 2:  Net Pay (MAMDMA 3b)

Just how much do I get to keep?

What are the deductions that will be taken from my earnings?

 

Chapter 3:  Maintaining a Checking Account (MAMDMA 3b)

Where should I open my account?

Why is it important to maintain a checking account?

What are deposits and withdrawals?

How do I reconcile a bank statement?

 

Chapter 4:  Maintaining a Savings Account (MAMDMA 4a)

Why should I have a savings account?

How do I maintain a savings account?

How much should I save?

 

Chapter 5:  Cash Purchases (MAMDMA 3a)

What are sales taxes?

How does sales tax affect my purchasing?

 

Chapter 6:  Credit Cards (MAMDMA 3b)

How do I control the “Credit Monster”?

How do I choose the best card?

How is my payment/debt calculated?

What are the methods that banks use to compute interest?

 

Chapter 7:   Loans (MAMDMA 4a)

Where is the best place to get a loan?

How is interest calculated?

How are my payments calculated?

How can a loan be paid off early?

 

Chapter 8: Transportation (MAMDMA 3a)

How do I get the best “deal for my wheels”?

When should I purchase, rent, or lease a vehicle?

What is the cost of maintain a vehicle?

 

Chapter 9:  Housing (MAMDMA 3a)

Should I rent or buy?

How do I decide how much house I can afford?

What kinds of mortgages are available?

How are mortgage payments calculated?

 

Chapter 10:  Insurance and Investment (MAMDMA 3b)

What kinds of insurance will I need?

How much should insurance cost?

What are stocks, bonds, annuities, and CD’s?

Which type of investment is best for me?

 

Chapter 11:   Budgeting (MAMDMA 3a, b)

How much is it really going to cost me to live on my own?

How do I control my money?

 

 

Unit I:  Analyzing Numerical Data

 

Section A:  Estimating Large Numbers (MAMDMN 1a, c, d)

When will I need to estimate large numbers?

What are some of the ways to estimate large numbers?

How will I know if my estimation is reasonable?

 

Section B:  Using Ratios (MAMDMN 1a)

What is proportional reasoning and how is it useful to me?

 

Section C:  Using Weighted Sums and Averages (MAMDMN 1b)

How are weighted averages calculated and interpreted?

How will this help me make decisions?

 

Section D:  Validating Identification Numbers (MAMDMN 1d)

What are UPC’s and how are they used?

How are credit card numbers determined?

 

 

Unit II:  Probability

Section A: Determining Probabilities (MAMDMD 1a)

How are tree diagrams constructed and interpreted?

How are Venn diagrams constructed and interpreted?

What about compound events?

What is meant by “equally likely”?

What is meant by experimental vs theoretical probability?

 

Section B:  Everyday Decisions Based on Probabilities (MAMDMD 1a, b)

How will I use Venn diagrams, tree diagrams, area models,and set notation to determine compound events?

 How do I make and justify decisions about risk using models?

 

Section C:  Expected Values (MAMDMD 1c)

Just what can I “Expect”?

How are expected values calculated?

What is mathematical fairness and how is it calculated?