How to Write Amounts of Money: Lesson for Kids
Amounts of Money
Have you ever sold anything? Let's say that you are having a yard sale and you want to sell your collection of rubber boogers. You decide to sell them for a quarter each. When you start to make your sign to let customers know the price, you are unsure about what to write.
How do you write this amount of money? Let's find out!
Not Quite a Dollar
So, your boogers are worth a quarter each...the rubber kind you're selling, not the ones from your nose. Gross! A quarter is worth 25 cents, so how do we write that?
Most often, amounts of money that are less than 100 cents, or 1 dollar, are written in one of three different ways:
You can write the amount of cents by writing the value of the coins and adding a cent sign (¢) after it. This shows that the amount of money is made up of coins less than 1 dollar.
- Rubber boogers - 25¢ each
You can write the amount of the cents by writing the value of the coins and adding a decimal point to the left of it. A decimal point shows that the numbers following it are a part of a whole number, in this case, parts of a dollar.
To the left of the decimal point, you would put a dollar sign ($), which shows that the numbers following the sign are units of money. If you want, you can put a 0 in front of the decimal to show there are no dollars.
- Rubber boogers - $.25 each OR $0.25 each
You can write the amount of money in words by writing the number and then the word 'cents.'
- Rubber boogers - 25 cents OR twenty-five cents
Even though the boogers are 25¢, I'm not sure if anyone will ''pick'' them.
One Dollar or More
Wait a minute! You forgot the custom-made, super-sticky, imitation earwax balls you got last year, so you decide to sell them at the yard sale as well. You want to sell each ball for a dollar and 2 quarters. This is more than a dollar, so how will you do it?
Any amount of money over a dollar is usually written in one of two different ways:
You can write the amount using a dollar sign and decimal point by writing the dollar sign ($) and then the number of whole dollars. Next, place the decimal point. Finally, write the number of cents (¢) to the right of the decimal.
- Silly string earwax balls - $1.50
You can write the amount in words by writing the number of whole dollars first, followed by the word 'dollars'. Instead of the decimal point, you will write the word 'and,' followed by the number of cents, and the word 'cents'. If you want, you can write out the numbers using words too.
- Silly string earwax balls - 1 dollar and 50 cents OR one dollar and fifty cents
I hope people buy the earwax balls and you don't get ''stuck'' with them.
Amounts of money can be written in different ways depending on their value. Money that is less than a dollar can be written with a cents sign, which shows that the amount of money is made up of coins less than 1 dollar, a dollar sign, which shows that the numbers following the sign are units of money and decimal point, which shows that the numbers following it are a part of a whole number, or by using words.
Money that is a dollar or more can be written with a dollar sign and decimal point or by using words.
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Money is an important concept for everyone to be knowledgeable about. Knowing the denominations of money and how to write the symbol for a collection of coins and bills is important also. Being quick with this is crucial when one has a job where there are money interactions. Let's look at some problems dealing with amounts of money.
- Joe has one five-dollar bill. Write that amount in dollar sign notation ($?).
- Mark has two quarters and one dime. Write that amount in cents notation (¢).
- Linda has three one-dollar bills and four nickels. Write that amount in dollar sign notation.
- Cathy has one ten-dollar bill, two one-dollar bills, and two dimes. Write that amount in dollar sign notation.
- David orders some food that costs $4.59. They had the cashier a ten-dollar bill. How much change will they get back?
- Doug is buying a shirt that costs $22.50, a pair of pants that cost $32, and a belt that costs $12.75. There is a $6.57 tax on these purchases. What is the smallest quantity of bills and coins that need to be given to the cashier?
- 2($0.25) + 1($0.10) = 0.5 + 0.1 = $0.6 = 60¢
- 3($1) + 4($0.05) = $3.20
- 1($10) + 2($1) + 2($0.10) = $12.20
- $10 - $4.59 = $5.41
- $22.50 + $32 + $12.75 + $6.57 = $73.82. Doug needs to give one $50 bill, one $20 bill, three $1 bills, three quarters, one nickel and two pennies.
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