Reference no: EM131030573 , Length: word count:1500

You should correct some part tax calculation part, The contextual statement and budget part check, etc and correct asap

1. Assessment format: Report Financial literacy investigation

2. (subject )Topic: Financial literacy investigation

ASSIGNMENT: AN INVESTIGATION REPORT

In order for mathematics to be seen as being relevant to a person's life it needs to be linked to real life. This assignment has been designed around a number of real life scenarios that will involve the use of financial literacy skills. In completing the investigation you will have the opportunity to demonstrate your knowledge and understanding of the content and processes relevant to this Unit.

PURPOSE - LINKS TO THE UNIT OUTCOMES

The assignment links with outcomes 3 and 5 of the unit outcomes. However, links with other outcomes may take place depending upon the focus of the investigation.

ASSIGNMENT PROCESS

This assignment involves the use of a financial literacy investigation. You are required to write a report on your investigation of one of the problems shown in the Assignment Topics below.

The assessment topics give you the opportunity to:

(i) investigate a real life problem.
(ii) investigate the type of mathematics that is inherent in the solving of everyday problems.
(iii) demonstrate your ability to plan and budget
(iv) demonstrate your understanding of the concepts, understandings and processes that have been introduced in this unit.
(v) be creative in the way you investigate the problem.

ASSUMPTIONS YOU NEED TO MAKE WHEN COMPLETING THIS ASSIGNMENT

To successfully complete this assignment you need to assume that:

- you have completed your Master of Teaching degree Your salary will be that of a first year teacher on the Step 5 Salary Level. You have to pay income tax on this salary.

- you are living independently.

- you will need to show how you will use your salary to budget for the project.

- your budgeting takes place during your first year of teaching that is, from 1st January, 2016 to the 31st December, 2016.

- you can only use the money you earn during the year.

- you do not have to pay: superannuation, medicare levies or HECS payments.

- you have cost of living expenses e.g. rent, food, power, telephone, travel expenses, clothing requirements, recreation. These should be factored into your budget.

ASSIGNMENT REQUIREMENTS

Select one of the assignment topics below and prepare a report on how you would investigate the selected problem. If you have previously completed this unit you may NOT use any part of your previous assignment. Treat this assignment as a real-life event so that your enthusiasm and creativity are evident in your investigation report.

ASSIGNMENT TOPICS

Choose one of these topics for your investigation report.

Topic 1 - Plan to take a three week holiday at one of the following destinations

(i) China (ii) UK or(iii) Mexico,at any time1st January 2016 to 31st January 2017.

If you choose this topic, these are some of the issues that you will need to consider:

- The dates for your holiday.
- Whether you will plan your holiday itinerary yourself or by using a package tour.
- Your travel requirements and the costs involved. You need to compare prices and justify your final choice.
- Accommodation costs while you are on holiday. You must pay for all your living costs.
- The cost of tours and activities in which you will be involved.
- The cost of meals not covered in your accommodation.
- Spending money.
- How you will budget for this holiday?

Topic 2. - You require a car to travel to and from work and for leisure. Is it more cost effective to buy a petrol, natural gas or hybrid (petrol and electric) car? Describe how you would budget for the cost of car and the running costs. You could consider whether to lease or purchase the car.

If you choose this topic, here are some examples of the issues you will need to consider:
- What make and model of car will you choose and why?
- What type of car will you buy? (petrol, gas or hybrid)
- How you will pay for the car? (lease or purchase)
- What on-road costs will be involved?
- How much insurance will you need to pay? How will you pay for this insurance? Compare the rates charged by different companies.
- How much will the running costs, such as petrol usage and servicing, will you need to pay?
- How will you budget for your use of the car? You will need to consider all your expenses.

Topic 3 - You want to host a celebration for 100 guests. It can be a special birthday, an engagement or wedding, or a major anniversary.

If you choose this topic, here are some examples of the issues you will need to consider:

- What will you provide for food, drinks and entertainment? What will be the costs?
- Venue? Type and costs? Is it a convenient location for your guests?
- How will you manage security and the clean up after?
- What are the alternatives? How much do they cost? Make some comparisons.

- when costing any investigation topic your need to make at least two comparisons. For example, if you are costing flights to your holiday destination you need to compare the flights fromseveral different airlines and justify your final choice.

WHAT DO YOU NEED TO SUBMIT FOR THIS ASSIGNMENT?

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.

3. The Reflective Statement
In this section of your assignment you need to discuss the following:
- The results of your investigation. Was your budgeting for project successful? If this was not the case how could you change your budgeting? If you were planning this project again what changes would you make?
- Did you encounter any difficulties with the investigation? How did you overcome these difficulties?
- What have you learnt from this investigation?

Length: 1500words

Reference style: APA

Assessment Criteria : Please check the assignement guildline 1, there are criteria for this assessment

etc Incase of the file named guide1-3, The figure is not correct information that is only for example so we don't have to copy and paste it. Tutor said my demonstration of the method and my explanation can be based on the tax calculation worksheet ;guide 1-3, but of course the numbers will be different.

Word Count - 1500 Words Editing

Attachment:- Guild.rar