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Study Guides > Mathematics for the Liberal Arts

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

Finger hovering over digital icons on a screenThe 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.

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