Module 8

Module 8: Daily Living

 

Lesson 3: Currency Exchange

 

Focus

 

During the spring break, Anna’s mother will be attending an Aboriginal Studies conference in the Florida Keys. Anna will be travelling with her! This is the first time Anna will be in the United States. Anna is very excited because they might even have time to go to Disney World and Universal Studios!

 

Anna and her mother have booked their trip through a local travel agent. The travel agent has been very helpful and has given them advice on what they will need, from passports to American currency. The travel agent has a map on the wall of some of the places she has visited, and Anna thinks to herself, “I bet being a travel agent would be a great career!”

 

Anna plans to change C$200.00 into American dollars at the bank. She wonders, “If I didn’t spend a cent of the American cash I take with me, would I get the full C$200.00 back if I exchanged it back to Canadian dollars after my trip?”

 

Lesson Questions

 

In this lesson you will explore these questions:

• What are currency exchange rates?

• What is the difference between the selling rate and the buying rate when exchanging currencies?

• How are exchange rates used to convert between the Canadian dollar and foreign currencies?

Assessment

 

You will complete the Lesson 3 Assignment Booklet for assessment. Download the Lesson 3 Assignment Booklet and save it in your course folder now. You will receive instructions on how to complete the Assignment Booklet later in the lesson. You will also be prompted to continue working on the Unit 4 Project.

 

Remember to save all activities, including those that are not part of the Assignment Booklet, in your course folder.

 

Required Materials and Equipment

 

You will need your calculator, access to the Internet, and your problem-solving skills.

Mathematics 10-3 Learn EveryWare © 2010 Alberta Education