Module 6 Overview
What You'll Learn To Do: Understand consumer math and perform computations in daily life.
Learning Objectives
- Define interest rate
- Describe the difference between simple and compound interest
- Calculate simple and compound interest
- Describe the difference between present and future values
- Calculate present and future values
- Calculate annuities and payout annuities
- Define finance charge
- Calculate finance charges using the average daily balance method
- Describe a fixed-rate mortgage
- Prepare an amortization schedule
Learning Activities
The learning activities for this module include:
Reading Assignments and Videos
- Read: Consumer Math
- Watch: Supplemental Videos
- Read: Average Daily Balance
- Read: How an Amortization Schedule is Calculated
Homework Assignments
- Submit: Consumer Math Homework #1 (22 points)
- Submit: Consumer Math Homework #2 (12 points)
- Discuss: Consumer Math Application (20 points)
- Discuss: Final Reflection (40 points)
- Complete: Exam 3
Licenses & Attributions
CC licensed content, Original
- Mathematics for the Liberal Arts I. Provided by: Extended Learning Institute of Northern Virginia Community College Located at: https://online.nvcc.edu/. License: CC BY: Attribution.
CC licensed content, Shared previously
- Image of Finger. Authored by: geralt. License: Public Domain: No Known Copyright.
