About This Chapter
MEGA Marketing: Interest and Purchases- Chapter Summary
The lessons in this chapter cover topics relating to interest and purchases, including index numbers in statistics, credit terms, and installment purchases. Also reviewed are deferred payment, markup and markdown, and effective annual rate. By the end of this chapter, you should be familiar with:
- Index numbers in statistics
- Credit terms: due date, invoice date and EOM
- Installment purchases
- Deferred payment vs. cash price
- Percentage increase and decrease
- Promissory note
Knowledgeable instructors introduce you to each concept through short, engaging video lessons. You can review specific sections of the video lessons using the jump feature under the Timeline tab. Self-assessment quizzes test your understanding and retention of the material.
Interest and Purchases - Chapter Objectives
Passing the Missouri Educator Gateway Assessments (MEGA) Marketing exam is one of the requirements for certification as a marketing teacher in the state. The exam's 100 multiple-choice questions measure competency in various subject areas of marketing. Questions on topics covered in the Interest and Purchases chapter are part of the exam's section on core marketing principles section, which makes up around 36% of the entire exam's content.
1. Index Numbers in Statistics: Uses & Examples
Watch this video lesson to learn what index numbers are. Learn how useful this statistical number is in the real world. You will also see some index numbers that we use and probably hear every day.
2. Credit Terms: Due Date, Invoice Date & EOM
After watching this video lesson, you will understand some of the key terms that companies use on the invoices that they send to you. Learn how to pay your invoices according to these terms so you aren't late.
3. Installment Purchases: Payment & Terms
After watching this video lesson, you will know how installment purchases work. Learn how you can calculate the amount of your fixed installment payment.
4. Deferred Payment vs. Cash Price: Calculation & Interest
Watch this video lesson to learn the difference between paying cash up front for an item versus making payments at a later time for an item. Watch and see how you may end up paying more for an item if you pay later.
5. Markup & Markdown: Calculation & Examples
After watching this video lesson, you will become familiar with how stores price their products to make a profit. Learn about how they increase their prices, markup, and how they decrease their prices, markdown.
6. Effective Annual Rate: Formula & Calculations
After watching this video lesson, you will understand how the interest rate that financial institutions, such as credit card companies, give you work. Also, learn how this interest rate may be different than the one you actually end up with.
7. Percentage Increase and Decrease: Calculation and Examples
After watching this video lesson, you will be able to calculate the percentage increase and decrease of changes that happen over time. You will also learn what you need in order to make your calculations.
8. Promissory Note: Terms & Calculations
Watch this video lesson, and you will learn how some promissory notes, such as mortgages, can be sold and why they are sold. Learn about the terms or conditions that go into such a note and how money is made with these notes.
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Other chapters within the MEGA Marketing: Practice & Study Guide course
- MEGA Marketing: Basic Concepts
- MEGA Marketing: Communication Methods & Functions
- MEGA Marketing: Environments & Strategies
- MEGA Marketing: Ethics & Public Relations
- MEGA Marketing: The Business Cycle
- MEGA Marketing: Market System Economics & Politics
- MEGA Marketing: Economic Growth & Indicators
- MEGA Marketing: Business Ownership
- MEGA Marketing: Business Plans
- MEGA Marketing: Functions of Management
- MEGA Marketing: Principles of Financial Management
- MEGA Marketing: Business Calculation Basics
- MEGA Marketing: Interpreting Data & Graphs
- MEGA Marketing: Graphing & Evaluating Equations & Functions
- MEGA Marketing: Quadratic Equations & Functions
- MEGA Marketing: Probability & Statistics for Business
- MEGA Marketing: Depreciation & Salvage Values
- MEGA Marketing: Financial Analysis Calculations
- MEGA Marketing: Product Development & Retailing
- MEGA Marketing: Services Marketing
- MEGA Marketing: The Marketing Mix & Promotional Strategies
- MEGA Marketing: Consumer Protection Laws
- MEGA Marketing: Selling & Pricing Strategy
- MEGA Marketing: Channel Management
- MEGA Marketing: Segmentation & Product Marketing
- MEGA Marketing: Competitive Advantage
- MEGA Marketing: Consumer Decision Making
- MEGA Marketing: International Marketplace
- MEGA Marketing: Research & Data Applications
- MEGA Marketing: Computer Literacy
- MEGA Marketing: Careers in Marketing
- MEGA Marketing Flashcards