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