Functional Money Math Problems

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Functional money math problems can involve learning how to convert from one currency to another. Find out about functional money math problems with help from an experienced mathematics educator in this free video clip.

Part of the Video Series: Math Solutions
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Video Transcript

Hi, my name is Marija, and today we're gonna do a functional money math problem, and we're gonna start with a given conversion for money. So, we're gonna learn that one euro is approximately equal to one dollar and forty cents in US money. And children can always convert through money by doing proportions, by setting up proportions, but we can also look at this as a function and write an equation. So if I wanted to know how many US dollars I was gonna have after I changed my money, I'll represent the US dollars by d, and what I have to do is multiply each euro by the one dollar and forty cents. So we would write that as 1.4, and I'll represent each euro by e. So what we've done is we've written dollars as a function of euros. And now that we've written it like this, we can basically use this equation, just substitute in the e or the d, whatever we're given, and solve for the other variable. So once I have my function, if I was told that I had five euros, and I want to know how many dollars that is, all I have to do is replace the euros with five, and now I have to simplify by multiplying, so we would do 1.4 times five, we get four times five is 20, carry our decimal, and we get the US dollars being seven. So we used our math fact to set up the dollars as a function of the euros, and then just substituted in our euros to find out how many dollars the five euros was worth.

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