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Standards for the lesson plan
Number & Operation: All About Money - Does it Pay?

These standards and benchmarks are from McREL's online database, Content Knowledge: A Compendium of Standards and Benchmarks for K-12 education (4th edition, 2004) (http://www.mcrel.org/standards-benchmarks/.) The mathematics portion of the database was developed using National Council of Teachers of Mathematics (NCTM) standards in addition to other nationally recognized standards documents.

Standard 1: Uses a variety of strategies in the problem-solving process

Benchmark 1: Uses a variety of strategies (e.g., identify a pattern, use equivalent representations) to understand new mathematical content and to develop more efficient solution methods or problem extensions

Benchmark 5: Uses formal mathematical language and notation to represent ideas, to demonstrate relationships within and among representation systems, and to formulate generalizations

Standard 3: Uses basic and advanced procedures while performing the processes of computation

Benchmark 1: Adds, subtracts, multiplies, divides, and simplifies rational expression

Benchmark 3: Understands various sources of discrepancy between an estimate and a calculated answer

Benchmark 6: Uses recurrence relations (i.e., formulas expressing each term as a function of one or more of the previous terms, such as the Fibonacci sequence or the compound interest equation) to model and to solve real-world problems (e.g., home mortgages, annuities)

Standard 4: Understands and applies basic and advanced properties of the concepts of measurement

Benchmark 1: Solves problems involving rate as a measure (e.g., speed, density)

Standard 6: Understands and applies basic and advanced concepts of statistics and data analysis

Benchmark 1: Selects and uses the best method of representing and describing a set of data (e.g., scatter plot, line graph, two-way table)

Standard 8: Understands and applies basic and advanced properties of functions and algebra

Benchmark 7: Uses a variety of models (e.g., written statement, algebraic formula, table of input-output values, graph) to represent functions, patterns, and relationships

Standard 9:  Understands the general nature and uses of mathematics

Benchmark 7: Understands that mathematics provides a precise system to describe objects, events, and relationships and to construct logical arguments