1. A Contextual Statement
In this statement you are required to discuss:
• your reasons for choosing this topic.
• how you will conduct the investigation,
• the comparisons that you made of the various options you might consider for your project e.g. compare the costs of flights with different airlines, compare the different makes of car, compare different types of food you might consider in your diet. Provide some justification as to why you finally chose one of the options.
• your strategies for financing the projects. You could consider borrowing money so that you can show your understanding of the mathematical processes that underpin interest rates and repayments.
• your budgeting strategies for a year.
2. The Budgeting Section
In this section of your assignment you have the opportunity to demonstrate your understanding of the mathematical processes that are used when you budget for a project. Therefore you need to show:
• Show calculations that are relevant to your budgeting for the topic you have chosen e.g. the calculation of your income after tax, cost of living and your budgeting for the project. Your living costs and project costs should be discussed separately, then each can be summarised in table form. It is also appropriate to use graphs to illustrate the use you will make of your income.
Include examples of the mathematical processes and calculations you used in the investigation.
This section of your report allows you to demonstrate your understanding of the mathematical processes and algorithms you have used in your budgeting. You should give at least ten examples of the calculations you have made:
Required:
The standard method and one alternative method for addition, subtraction and multiplication
Single-digit division and long division
A calculation using fractions
A calculation using percent.
Explain, in detail, the mathematical processes used. Your explanation should be sufficient for a person unfamiliar with the algorithm to learn the process.
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