numeracy fundamentals

NC Contact Centre Support NQF 2: SAQA ID 71490 US 7469

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Contact Centre Support NQF 2- CC2 – POE 6 - US 7469 – Issue 3 – 01-01-2021

NUMERACY FUNDAMENTALS

US 7469: USE MATHEMATICS TO INVESTIGATE AND MONITOR THE FINANCIAL ASPECTS OF PERSONAL AND COMMUNITY LIFE

Learner Name: Learner ID #: Learner Student Number:

FORMATIVE ASSESSMENT

Activity 1 (SO1, AC1-2)

1. Complete schedule A Schedule A

Monthly Income (Schedule A)

Husband

Wife

Other

Total Income (Net)

Activity 2 (SO3-4)

1. Arrange the following budget items in the applicable category as set out in the schedule.

2. Complete Schedule B

Schedule B

Monthly Expenses

Expenditure Estimate Actual Date Paid

Fixed Expenditure

Variable Expenditure

telephone travel costs cigarettes school fees rates & taxes funeral policies

savings alcohol hire purchase groceries short-term insurance stokvel

petrol life insurance entertainment clothing cell phone

bond or rent retirement annuity vehicle payments unforeseen costs water & electricity


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Discretionary Expenditure

Sub Total

Total Expenditure

3. Draw up your personal budget.

BUDGET

EXPENDITURE ESTIMATE ACTUAL DATE PAID

Fixed Expenditure

Sub Total

Variable Expenditure

Sub Total

Discretionary Expenditure

Sub Total

Unforeseen Costs

TOTAL EXPENDITURE

Activity 3(S01-4) Costs, prices, revenue, profit Discuss this activity in a group and note the answers.

1. John and Rebecca Moalisi have decided to start their own business. They are going to make and sell hot dogs in front of a busy shopping centre. Their monthly costs (expenses) will be approximately R700 to buy bread rolls and viennas. They aim to sell 600 hot dogs per month. One hot dog will cost them 50c to prepare and they’ll sell them for R2.50. Is their business going to be profitable or not? Use the following formula for your calculation: Profit = Margin x Volume – Expenses


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2. Explain costs in terms of a business

3. How does a business generate revenue?

4. How can you cut back on your personal expenses in order to save some money?

Activity 4 (SO2, AC104) Discuss the first part of this activity in a group and note the answers.

1. Calculate simple interest Money required: R 10 000 Interest rate: 22,5% Payback period: One Year What is the interest in rand per month?

R 10 000 X 22,5 divide by 12 __________ _____ 1 100

2. What is the total interest payable over the one-year period?

3. What is the total monthly payment?

This is an individual activity:

4. What is the interest per month if the interest rate increases by another 1,5%?


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R 10 000 x 24 _________ ______ 1 100

5. What is the total interest payable over the one-year period if the increase came into effect at

the beginning of the seventh month?

Discuss the first part of this activity in a group and note the answers.

6. Calculate compound interest: Mr. Mankwe invested R95500 at an interest rate of 6.% per annum compounded for 10 years. How much interest will he have earned after 10 years?

This is an individual activity

7. You invest R678 for 12 years at a rate of 15.6%. What would your returns be at the end of year 12?

What would your returns be at the end of year 12?

8. A father wants to have R16 000 available for his sons’ education on his 18th birthday. Calculate the amount he must invest on his son’s 10th birthday at 14% compounded interest?

9. The Maluti Company bought equipment to the value of R43 200. The yearly depreciation is 12 %. After 12 year it is sold. Calculate the value of the equipment after 12 year.


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Activity 5 SO2, (AC1-4) Inflation Discuss the first part of this activity in a group and note the answers. The Rule of 72

1. Assuming a rate of inflation of 12%, calculate, using the Rule of 72, when the price of goods will double (i.e. the number of years).


2. Assuming a rate of 10%, use the Rule of 72.


3. Assuming a rate of 8%, use the Rule of 72.


4. Angela is set to retire in 27 years’ time. At the moment she earns R5000 per month. If inflation remains at 8% on average, what will Angela have to be earning at the time of her retirement to maintain her standard of living? (Use the Rule of 72).


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Activity 6 (SO 1-4) Appreciation and depreciation This is an individual activity

1. Describe appreciation and depreciation. Which assets usually appreciate in value and which assets depreciate?


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SUMMATIVE ASSESSMENTS Knowledge Questionnaire

1. What is a budget?

(1)

2. Give three reasons for budgeting for your expenses and savings.

(3)

3. Explain the difference between savings and investments.

(2)

4. What is interest?

(1)

5. What is compound interest?

(1)

6. What is the cost price of an item?

(2)


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How is the selling price calculated?

(2) What is profit?

(1)


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Practical Workplace Logbook Attach the completed workplace logbook and workbook behind this page

Acknowledgment of Receipt I ____________________________________________________________________________ (Learner) acknowledge receipt of my Workplace assignment workbook on this the _______ day of _______________________________ 20______ The process of on-the-job training has been explained to me. ___________________________________ Signature of Learner ___________________________________________ Name of Facilitator/Mentor/Supervisor: __________________________________ Signature of Facilitator/Mentor/Supervisor

Indirect Evidence

Indirect Evidence is evidence produced about the learner from another source. This is usually in the form of reports of third party sources, i.e. sources other than the assessor. Indirect evidence can be used to verify the authenticity of other forms of evidence. In addition, it may be necessary to corroborate these forms of evidence. Sources of indirect evidence include:

Team outputs Work completed at an earlier stage Performance appraisals Training records Testimonials Reviews and commendations Certificates and qualifications Medals, prizes and trophies Customer / client ratings

Please attach any indirect evidence you may have on the required outcomes within the PoE behind this page.


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SUMMATIVE WORKPLACE ASSESSMENTS

Assignment 1: Personal Budget Activity 1.1

1. Complete the following table: (4)

Monthly Income (Schedule A)

Husband

Wife

Other

Total Income (Net)

2. Draw up your personal budget. (16)

BUDGET

EXPENDITURE ESTIMATE ACTUAL DATE PAID

Fixed Expenditure (1) (1)

Sub Total (1) (1)

Variable Expenditure (1) (1)

Sub Total (1) (1)

Discretionary Expenditure (1) (1)

Sub Total (1) (1)

Unforeseen Costs (1) (1)

TOTAL EXPENDITURE (1) (1)

3. Is your income more than your expenses? Quote from your budget and income schedule to

support your answer. (2)


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4. Calculate your annual income. (1)

5. Calculate your annual expenses. (1)

6. Are you able to save? How much? (1)

7. How can you cut back on your personal expenses in order to save some money? (2)

Assignment 2: Interest Activity 2.1 Explain depreciation and give an example of an asset that depreciates in value. (2)

Explain appreciation and give an example of an asset that appreciates in value. (2)

Activity 2.2 You want to borrow R12 000 at an interest rate of 16.5 %, repayable over one year from the bank. Do the following calculations: What is the interest in rand per month? (3) Show your steps


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What is the total interest payable over the one-year period? (1)

What is the total monthly payment? (2) Show your steps

Calculate the compound interest on an investment of R200 000 which is invested for a period of 2 years at 10% interest per year. Show your steps. The formula is shown below. (2)

You invest R678 for 12 years at a rate of 15.6%. What would your returns be at the end of year 12? (1)

42000

)100

101(200000

)100

1(

2

Ri

i

pr

pi t


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Activity 2.3 John Smith takes out an endowment policy in 2015which matures in the year 2031, i.e. in 16 years’ time. Assuming inflation stays at an average of 9% over the next few years, we can calculate what the real value of his money will then be, if the projected maturity value is R1.8 million, by using the Rule of 72. What will the value of his pay-out be in 2031? (1)

Thabo and Aletta are paying rent of R866 per month and decide to buy a smart new motor car for R36 000. They let the motor dealer arrange a loan on the car for them through a finance company. They are told that the interest rate is 19% FLAT. They don't know what that means, so assume it is REDUCING interest. In fact, the TRUE RATE IS JUST UNDER 31%. Their monthly payments are R1320 per month for four years. In addition, they have to pay R866 per month for rent. Their monthly payments total R2 186. At the end of four years, they have spent R104 928 in rent and car payments and own a second-hand car worth R20 000, if they are lucky. What can you do differently to ensure that you invest in assets that appreciate in value? Name and explain at least two things. (2)


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PERSONAL NARRATIVE

Answer the following questions based on your experience during the completion of this module. Discuss what you did well and what you would like to do differently.

What went well? What would I do differently?

1 I was able to identify and solve problems effectively throughout the various activities completed in

this module.

2 I was able to understand how different workplace activities have an impact on each other.

3 I was able to use new technology effectively in my daily tasks that I carried out.

4 I was able to communicate effectively with my team members and supervisors.

5 I was able to complete all my work in an organized and efficient manner.

6 Additional Comments

Learner Name: Signature

Facilitator Name: Signature

Date

Portfolio of Evidence: Contact Centre Support NQF 2: SAQA ID 71490 US 7469

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LOGBOOK

This log book has been included to record all time spent on the report and assignments.

Time spent completing on activities should be signed off by a facilitator, supervisor, mentor or witness where possible.

Learner Name:

Learner ID#:

Course Title: NC Contact Centre Support NQF 2: SAQA ID 71490

Unit Standard Title: US 7469: Use mathematics to investigate and monitor the financial aspects of personal and community life - 2 credits

SAQA ID Number 7469 Credits 2 Notional Hours 20 Practical Hours

Practical / Workplace Activities Start Date

End Date

Total No of Hours

Sign Off by Facilitator / Supervisor / Manager / Mentor / Witness

Name & Surname

Relationship to Learner

Signature

Use mathematics to investigate and monitor the financial aspects of personal and community life

20 Hours

Classroom Training:

Activities Completed:


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FEEDBACK SECTION

Comments from Facilitator:

Comments from Student:


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FOR STUDENT This is to verify that the above work is my own / authentic. Learner Name: ___________________________Learner Student No:___________________ Learner Signature: ________________________ Date: _____________________________ FOR FACILITATOR This is to verify that the learner has completed all the above and is awaiting final assessment / moderation. File Checked:

Date Facilitator Signature Facilitator Name

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