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Lesson Plans and Worksheets for Grade 7

Lesson Plans and Worksheets for all Grades

More Lessons for Grade 7

Common Core For Grade 7

Examples, videos and solutions to help Grade 7 students learn how to perform various calculations involving rational numbers to solve a problem related to the change in an investment’s balance over time.

### New York State Common Core Math Module 2, Grade 7, Lesson 20

### Lesson 20 Student Outcomes

• Students perform various calculations involving rational numbers to solve a problem related to the change in
an investment’s balance over time.

• Students recognize and use mathematics as a tool to solve real-life problems.

### Lesson 20 Summary

• Calculations with rational numbers are used when recording investment transactions.

• Deposits are added to an account balance; money is deposited into the account.

• Gains are added to an account balance, as they are positive returns on the investment.

• Withdrawals are subtracted from an account balance; money is taken out of the account.

• Losses are subtracted from an account balance; as they are negative returns on the investment.

• Fees are subtracted from an account balance; as the bank/financial company is charging you for a service.

### NYS Math Module 2 Grade 7 Lesson 20 Example

Example 1: College Investments

Justin and Adrienne deposited into an investment account for years. They hoped the money invested and the money made on their investment would amount to at least to help pay for their daughter’s college tuition and expenses. The account they chose has several benefits and fees associated with it. Every months, a summary statement is sent to Justin and Adrienne. The statement includes the amount of money either gained or lost. Below are semi-annual (twice a year) statements for a period of years. In addition to the statements, the following information is needed to complete the task:

• Every statement, there is an administrative fee of to cover costs such as secretarial work, office supplies, postage, etc.

• If there is a withdrawal made, a broker’s fee is deducted from the account. The amount of the broker’s fee is of the transaction amount.

TASK: Using the above information, semi-annual statements, register, and beginning balance, do the following:

1. Record the beginning balance, and all transactions from the account statements, into the register.

2. Determine the annual gain or loss as well as the overall -year gain/loss.

3. Determine if there is enough money in the account after years to cover of college expenses for Justin and Adrienne’s daughter. Write a summary to defend or refute your answer. Be sure to indicate how much money is in excess, or the shortage that exists.

4. Answer the related questions that follow.

### NYS Math Module 2 Grade 7 Lesson 20 Problem Set

2. The register below shows a series of transactions made to an investment account. Vinnie and Anthony both
completed the register in hopes of finding the beginning balance. As you can see, they do not get the same answer.
Who was correct? What mistake did the other person make? What was the monthly gain or loss?

Lesson Plans and Worksheets for Grade 7

Lesson Plans and Worksheets for all Grades

More Lessons for Grade 7

Common Core For Grade 7

Examples, videos and solutions to help Grade 7 students learn how to perform various calculations involving rational numbers to solve a problem related to the change in an investment’s balance over time.

• Students recognize and use mathematics as a tool to solve real-life problems.

• Deposits are added to an account balance; money is deposited into the account.

• Gains are added to an account balance, as they are positive returns on the investment.

• Withdrawals are subtracted from an account balance; money is taken out of the account.

• Losses are subtracted from an account balance; as they are negative returns on the investment.

• Fees are subtracted from an account balance; as the bank/financial company is charging you for a service.

Justin and Adrienne deposited into an investment account for years. They hoped the money invested and the money made on their investment would amount to at least to help pay for their daughter’s college tuition and expenses. The account they chose has several benefits and fees associated with it. Every months, a summary statement is sent to Justin and Adrienne. The statement includes the amount of money either gained or lost. Below are semi-annual (twice a year) statements for a period of years. In addition to the statements, the following information is needed to complete the task:

• Every statement, there is an administrative fee of to cover costs such as secretarial work, office supplies, postage, etc.

• If there is a withdrawal made, a broker’s fee is deducted from the account. The amount of the broker’s fee is of the transaction amount.

TASK: Using the above information, semi-annual statements, register, and beginning balance, do the following:

1. Record the beginning balance, and all transactions from the account statements, into the register.

2. Determine the annual gain or loss as well as the overall -year gain/loss.

3. Determine if there is enough money in the account after years to cover of college expenses for Justin and Adrienne’s daughter. Write a summary to defend or refute your answer. Be sure to indicate how much money is in excess, or the shortage that exists.

4. Answer the related questions that follow.

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