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

$Finger hovering over digital icons on a screen$ 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

Mathematics for the Liberal Arts I. Provided by: Extended Learning Institute of Northern Virginia Community College. Located at: http://eli.nvcc.edu/. License: CC BY: Attribution

Image of Finger. Authored by: geralt. Located at: https://pixabay.com/en/finger-touch-hand-structure-769300/. License: Public Domain: No Known Copyright

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Learning Objectives

Learning Activities

Reading Assignments and Videos

Homework Assignments