Name: _______________________

Date: _______

Math in the Business World We often do adding and subtracting integers in real-world situations. One place that this is common is the business world. In starting a business, there are expenses (negative integers) to get your business started and to keep it running as well as profits and money to be made. Youre an entrepreneur ready to begin your own business. Although you will make money in your business venture, you need to spend money to purchase certain items, pay rent and staff members, and advertise to get your business off the ground. Task: Make a cash flow table to keep your finances on track for the first month of your business. Then answer the following questions: 1. How much money have you spent on your business? 2. What is your gross income? (What is the total amount of money that you have earned in the first month? Do not account for money that you have spent.) 3. What is your net income? (What is the total amount of money you have left over after your expenses are subtracted from your earnings?)

4. Extension: Make a projection on your second month in business. You may earn the same amounts as in your first month, but you may not have to purchase certain items that you needed in the very beginning. If this happens, what will be your net income in your second month. Example: (Enrichment 1-7, Prentice Hall Mathematics Course 2) Alice has started a business baking cookies. Although she makes money by selling cookies, she has also had to spend money for equipment and supplies. Alice made the cash flow table below to help her keep track of her finances for her first month in business.

Demonstrated Knowledge

Mechanics

4 (16-20 pts) Shows complete understanding of the questions, mathematical ideas, and processes. No math errors.

Criteria 3 (11-15 pts) Shows substantial understanding of the problem, ideas, and processes. No major math errors or serious flaws in reasoning. Good solid responses are written but some steps may be incomplete.

Work Shown

Effort/Use of Visuals

All steps are shown completely with full detail. Questions are answered completely with correct mathematical expressions written. Project shows complete detail and much effort is shown in presentation. Extension topic is attempted.

2 (6-10 pts) Response shows some understanding of the problem. May be some serious math errors or flaws in reasoning. Work is unclear and missing key steps, operations, etc.

1 (0-5 pts) Response shows a complete lack of understanding for the problem. Major math errors or serious flaws in reasoning. Missing key points and/or lacking essential material to prove work completely. Little/no effort is shown in presentation. Work is sloppy and shows lack of care. Project is turned in within 3 weeks of project deadline. Total

Points

_____ 20

_____ 20

_____ 20

Timeliness

Project is turned in on time during class on 10/4 with this task sheet attached.

Project shows complete detail and much effort is shown in presentation. Extension is not attempted. Project is turned in within 1 week of project deadline.

Project shows some detail and effort. Extension is not attempted.

_____ 20

Project is turned in within 2 weeks of project deadline.

_____ 20

#1: How much money have you spent on your business? (-$7) + (-$12) + (-$14) + (-$20) -7 12 14 20 -53 I have spent $53 on my first month in business. #2: What is your gross income? $28 + $40 $68 My total gross income so far is $68. This is not accounting for the money I have spent on supplies, etc #3: What is your net income? (-$7) + (-$12) + (-$14) + $28 + (-$20) + $40 -7 12 14 + 28 20 + 40 15 My net income so far is $15. This is the profit I have made after money was earned from sales and my expenses were deducted from my gross income Of course, you may (and should) expand on these categories with specifics and details pertaining to your business. The extension question (#4) will be left to you to expand on and will account for 5% of your grade. Please read the rubric carefully to maximize on this project grade. Remember to make your work colorful and have fun with it! Please do not make projects on very large poster/display boards as they will be going in your math portfolio.