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# 15.1: Module 6 Overview

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## 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: