Represent money values in multiple ways and count the change required for simple transactions to the nearest five cents (ACMNA059)
LO: To solve problems involving purchases and the calculation of change to the nearest 5 cents.
Know:

How to use the 4 operations to solve money problems.

The value of each of the Australian coins and notes.

Equivalent value of the coin. Eg.) One 10 cent coin is equal in value to two 5 cent coins.

How to subtract money.
Understand:

That money can be represented in multiple ways and change is given when there is leftover money.
Do:

I can represent money in multiple ways and can count change from simple transactions.
Representing Money
Money can be represented in many different ways. One thing to remember is that money is represented using dollars and cents. 100 cents is equal to 1 dollar. The size of the coin also doesn’t determine its value and also having more coins doesn’t mean that it have more value.
Different countries use different types of money to represent value. Not all countries use the same denominations and divisions with money.
Adding and Subtracting Money
Rounding Money
When rounding money, always look at the cent place value.
If the cent place value is 1 or 2 then you round down to the nearest dollar. If the cent value is 3 or 4 then you round up to 5 cents. If the cent value is 6 or 7 then you round down to 5 cents. If the cent value is 8 or 9 then you round up to 10 cents.