F1.1 Estimate and calculate the change required for various simple cash transactions involving whole-dollar amounts and amounts of less than one dollar.
Activity 1: Do I Have Enough Money?
Prepare items with price tags or a list with pictures of items with their prices, making sure to include prices in both whole dollar amounts and amounts under a dollar. Also prepare envelopes with varying amounts of play money, but not with the exact prices of the items, so that students will be able to give change after purchasing the item.
Tell students that they can purchase one item only, and then ask them to look in their envelopes to determine first what they can purchase with their money and secondly, what change they will receive for the item.
Repeat the activity by modifying the prices or the amounts of money in the envelopes.
Activity 2: The Week's Purchases
At the beginning of the week, give each student the same amount of play money or redeemable coupons. Throughout the week, students will have the opportunity to purchase a privilege or fun item to use during the day (for example, sit at the teacher's desk, borrow a shiny pen, have the class mascot stuffed animal at their desk, or any other privilege chosen by the teacher and class). Determine with them the choices of privileges, as well as their price. They will have to represent their mathematical calculations and communicate their mathematical reasoning before proceeding with their purchase.