Making change

Learning Objectives Identify the value of pennies, nickels, dimes, and quarters. Calculate the correct amount of change from a purchase using subtraction. Use the 'counting up' strategy to make change. Solve one-step word problems involving making change from one dollar. Determine the fewest number of coins needed to make a specific amount of change. Express money amounts using the dollar sign ($) and the cent symbol (¢). You have $1.00 and want to buy a yummy cookie that costs 75¢. How much money will you get back? 🍪 In this lesson, we will learn how to 'make change'. This is the skill of figuring out how much money you get back after you buy something. It's a very important math skill you will use almost every day! Real-World Applications Buy...

TermDefinitionExample ChangeThe amount of money you receive back when you pay with more money than the item costs.If a toy car costs 80¢ and you pay with $1.00 (or 100¢), your change is 20¢. Cost (or Price)The amount of money you need to pay to buy something.The cost of a pencil is 25¢. Amount PaidThe total amount of money you give to the cashier.You give the cashier $1.00 to pay for your pencil. The amount paid is $1.00. QuarterA coin worth 25 cents (25¢).Four quarters make one dollar ($1.00). DimeA coin worth 10 cents (10¢).Ten dimes make one dollar ($1.00). NickelA coin worth 5 cents (5¢).Two nickels are worth the same as one dime (10¢). PennyA coin worth 1 cent (1¢).One hundred pennies make one dollar ($1.00).

The Subtraction Rule for Change Change = Amount Paid - Cost Use this rule when you want to find the exact amount of change you should get back. First, make sure both amounts are in the same unit (usually cents). Then, subtract the cost of the item from the money you paid. The Counting Up Strategy Start at the Cost and count up to the Amount Paid using coins. This is a great way to make change without subtraction. Start with the price of the item and add coins (pennies, nickels, dimes, quarters) until you reach the amount of money you were given. The coins you used to count up are the change.