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Week 1

posted Feb 1, 2010, 1:18 PM by Jon Hamlin   [ updated Feb 5, 2010, 2:55 PM ]
Welcome to Mr. Hamlin's Math 10 Essentials course.

Your first assignment is to get your parents or guardians to sign your course outline and bring it back to me by Tuesday, February 2nd.

Class work for Wednesday: Review concepts of Assessment quiz.

32 = 3 x 3    NOT    3 x 2   -------------  therefore  32 = 9

23 = 2 x 2 x 2    NOT    2 x 3   ----------- therefore  23 = 8

Order of Operations


 

B rackets

E xponents    

D ivision

M ultiplication

A ddition    

S ubtraction

  (3 x 2) + 6 = 
   Brackets first, then addition.
  
   3 x 2 = 6     so      6 + 6 = 12
  


Begin Exploration 1: Brainstorm 3 hypothetical careers - work with a partner to come up with a list of pro's and con's for each career. Consider things like benefits, salaries, job availability, working conditions, etc.



Class work for Thursday

Today we spent time in the computer lab looking up salary information for the prospective careers we brainstormed yesterday. We created hypothetical monthly budgets and then subtracted ( - ) that budget from our monthly income to find out how much money we would have left over.

How to find out your monthly income?

hourly wage x however many hours you work in a week x 52 weeks in a year

divide that by 12 (months in a year)

ex.      $10/hour   x  40  = $400

           $400 x 52 = $20800

           $20800 ÷ 12 = $1733 per month



Class work for Friday

  • Calculating a sale price

You want to buy a video game system. The system costs $200. Lucky for you, they are having a 25% off sale today!

To find out the sale price - take the sale % and subtract it from 100.

100 - 25 = 75

You will be paying 75% of the original $200 price.

To find this out, multiply - $200 x 0.75

$150 will be the cost of your video game system


  • Calculating your income tax
Canada has income tax brackets. The more money you make, the more tax you pay.

Income Tax Rates as sourced from Ernst & Young):
Income Bracket Marginal Tax Rate
$0 – $10,320 0.00%
$10,321 – $12,269 15.50%
$12,270 – $15,658 27.60%
$15,659 – $36,848 21.55%
$36,849 – $40,726 24.65%
$40,727 – $64,881 31.15%
$64,882 – $73,698 32.98%
$73,699 – $76,442 35.39%
$76,443 – $81,452 39.41%
$81,453 – $126,264 43.41%
$126,265 + 46.41%

We took our potential salaries from the jobs we researched and found out how much income tax we would pay.

For a train engineer making $85, 000 a year (GROSS income) - that person would fall into the 43.41% tax bracket.

To find out how much tax they pay - take 100 - 43.41 - 56.59

This means after paying taxes,  you get to keep 56.59% of your original $85,000

To find out how much that is - multiply - $85000 x 0.5659

= $48,101.50   - This is how much you keep after taxes, this is your NET income.





Ċ
Jon Hamlin,
Feb 1, 2010, 1:20 PM
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