Financial Mathematics at School a brief overview

1
Financial Mathematics at School a brief overview

• Jackie Scheiber
• RADMASTE Centre,
• Wits University

2
The Old Syllabus

• Simple Interest Formula SI P.r.n/100
• Compound Interest Formula
• A P(1r/100)n
• Interest compounded half-yearly, quarterly, etc
• Calculating A
• Calculating P
• Calculating r
• Calculating n
• Compound Decrease (Depreciation)

3
NCS Maths Literacy Grade 10

• Apply mathematical knowledge and skills to plan
  personal finances (so as to enable effective
  participation in the economy) inclusive of
• Income and expenditure
• Simple interest problems and compound interest
  situations capitalised annually, half-yearly,
  quarterly and monthly including calculation of
  either rate, principal, amount, or time, when
  other variables are given or known

4
NCS Maths Literacy Grade 11

• Investigate opportunities for entrepreneurship
  and determine profit and sustainability by
  analysing contributing variables, inclusive of
• Specifying and calculating the value of income
  and expenditure items
• Determining optimal selling prices
• Estimating and checking profit margins

5
NCS Maths Literacy Grade 12

• Analyse and critically interpret a wide variety
  of financial situations mathematically, inclusive
  of
• Personal and business finances
• The effects of taxation, inflation and changing
  interest rates on personal credit, investment and
  growth options
• Financial and other indicators
• The effects of currency fluctuations
• Critical engagement with debates about socially
  responsible trade

6
NCS Mathematics

• See pages 18, 19, 20 and 21

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How would you suggest that a matric maths teacher
teach this section of the mathematics syllabus?