## 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