Grade 8 - Probability and Financial Literacy

Students calculate discounts, markups, taxes, tips, percent increases and decreases, and simple interest using percent equations, decimal multipliers, and $I=Prt$, distinguishing the original amount, rate, change, and final total. They compare financial options by translating rates, unit costs, fixed fees, and transaction charges to a common basis using tables, equations, graphs, and unit rates. They determine and compare theoretical and experimental probabilities and analyze compound events with organized lists and tree diagrams, adding probabilities of mutually exclusive outcomes, multiplying probabilities of successive outcomes, and accounting for dependent events.