Mathematical process standards. The student
uses mathematical processes to acquire and demonstrate mathematical understanding.
The student is expected to:
(1) Personal financial literacy. The student applies
mathematical process standards to manage one's financial resources effectively ...

Mathematical process standards. The student
uses mathematical processes to acquire and demonstrate mathematical understanding.
The student is expected to:

(1) Personal financial literacy. The student applies
mathematical process standards to manage one's financial resources effectively
for lifetime financial security. The student is expected to:

(2) define income tax, payroll tax, sales tax,
and property tax;

(A) explain the difference between gross income
and net income;

(B) identify the advantages and disadvantages
of different methods of payment, including check, credit card, debit card, and
electronic payments;

(C) develop a system for keeping and using financial
records;

(D) describe actions that might be taken to
balance a budget when expenses exceed income; and

(E) balance a simple budget.

(F) apply mathematics to problems arising in
everyday life, society, and the workplace;

(G) use a problem-solving model that incorporates
analyzing given information, formulating a plan or strategy, determining a solution,
justifying the solution,
and evaluating the problem-solving process and the reasonableness of the solution;

(H) select tools, including real objects, manipulatives, paper and pencil, and
technology as appropriate, and techniques,
including mental math, estimation,
and number sense as appropriate, to solve
problems;

(I) communicate mathematical ideas, reasoning, and their implications using
multiple representations, including
symbols, diagrams, graphs, and language as appropriate;

(J) create and use representations to organize,
record, and communicate mathematical ideas;

(K) analyze mathematical relationships to connect
and communicate mathematical ideas; and

(L) display, explain, and justify mathematical ideas and arguments using precise
mathematical language in written or oral communication.