# Ch 17: NMTA Middle Grades Math: Money & Consumer Math

### About This Chapter

## NMTA Middle Grades Math: Money & Consumer Math - Chapter Summary

Let us help you brush up on your consumer math skills in time for the NMTA Middle Grades Math exam. Watch short videos and take the multiple-choice quizzes that follow to review the steps involved in:

- Identifying coin values
- Adding and subtracting money
- Multiplying and dividing money
- Making change
- Calculating sales commissions
- Marking up a price
- Calculating taxes and discounts
- Determining interest
- Calculating shipping and handling

These video lessons and their matching transcripts include sample problems outlined by an experienced instructor. You'll also find multiple-choice quizzes that provide you with immediate feedback once you've entered the solution to a consumer math problem.

### NMTA Middle Grades Math: Money & Consumer Math Chapter Objectives

Concepts covered in this money and consumer math chapter can help you get ready for NMTA Middle Grades Math test questions measuring your ability to perform basic arithmetic operations with decimals, fractions, percents, ratios and proportions. These types of questions are found in the number sense and operations content domain, which makes up around 26 of the exam's 150 multiple-choice questions, and will be used along with additional content domains to determine your preparedness for a middle grades math teaching endorsement in New Mexico.

### 1. How to Find the Missing Coin

Watch this video lesson to learn how you can solve missing coin problems. Learn what mathematical operations you should use to figure out what kind of coin you are missing.

### 2. Adding & Subtracting Money Amounts

Some people say money makes the world go around, but as this lesson demonstrates, money gets added and subtracted, just like anything else. Using the example of an allowance, we'll see how adding and subtracting money is really quite simple.

### 3. Multiplying Money by Whole Numbers & Decimals

Want to find out how much you and your friends can spend on a party if you all have the same amount of money? Or maybe you'd want to buy investments one day in hopes of being rich! In either event, you'll need to know how to multiply money.

### 4. Dividing Money Amounts

I'll be honest, dividing money is normally not as fun as multiplying money. After all, it's hard to let your hard-earned cash get reduced so quickly! However, this lesson shows how dividing money can help make sure you get the best deal on cookies and avoid getting ripped off.

### 5. Making Change from a Purchase

Watch this video lesson to learn the process of making change so you give your customers the least number of bills and coins as possible. See how you need to work your way from the largest bill or coin to the smallest.

### 6. How to Calculate Sales Commissions

In this lesson, we'll define sales commission. We'll also discuss three types of sales commission: percent of sales, stair step and fixed amount. You'll also learn when to utilize each type.

### 7. How to Mark Up a Price

Marking up prices to cover costs and earn a profit is a common business practice. This lesson explains the standard formula to mark up a price, and provides examples of markups.

### 8. Taxes & Discounts: Calculations & Examples

When you go shopping, you don't want to be surprised by the amount of tax on an item. You also want to fully understand discounts to know how much you can save. In this lesson, we'll practice calculating both tax and discounts.

### 9. How to Solve Interest Problems: Steps & Examples

If you want to know how your money can earn money, then it's essential to learn about solving interest problems. In this lesson, we'll practice calculating interest amounts and interest rates.

### 10. Compounding Interest Formulas: Calculations & Examples

Compound interest is a great way to have your money work for you. In this lesson, find out the formula for calculating compound interest and practice using the formula with several examples.

### 11. How to Calculate Shipping & Handling

Study the following lesson to learn how you can calculate your shipping and handling fee so you are not losing money when shipping your product to your customers. Afterwards test your new knowledge with a quiz.

### 12. How to Calculate a Tip

Tips are quantities of money that are often added onto to the original cost of a bill. Figuring out these items is as simple as setting up a ratio between the tip percentage and the bill amount. In this lesson learn how easy it is to calculate a tip.

### 13. Item Unit Price & Total Cost: Calculations & Examples

Two of the most important figures for a business are the unit price and the total cost. In this lesson, we learn how to calculate both as well as the relationship between the two figures.

### Earning College Credit

Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.

To learn more, visit our Earning Credit Page

### Transferring credit to the school of your choice

Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.

### Other Chapters

Other chapters within the NMTA Middle Grades Mathematics (203): Practice & Study Guide course

- NMTA Middle Grades Math: Basic Arithmetic Operations
- NMTA Middle Grades Math: Solving Math Word Problems
- NMTA Middle Grades Math: Properties of Numbers
- NMTA Middle Grades Math: Estimating & Rounding
- NMTA Middle Grades Math: Number Theory
- NMTA Middle Grades Math: Roots & Radical Expressions
- NMTA Middle Grades Math: Exponents & Exponential Expressions
- NMTA Middle Grades Math: Scientific Notation
- NMTA Middle Grades Math: Simplifying Whole Number Expressions
- NMTA Middle Grades Math: Integers
- NMTA Middle Grades Math: Rational Numbers
- NMTA Middle Grades Math: Introduction to Fractions
- NMTA Middle Grades Math: Operations with Fractions
- NMTA Middle Grades Math: Introduction to Decimals
- NMTA Middle Grades Math: Operations with Decimals
- NMTA Middle Grades Math: Percents
- NMTA Middle Grades Math: Number Patterns & Sequences
- NMTA Middle Grades Math: Properties of Functions
- NMTA Middle Grades Math: Graphing Functions
- NMTA Middle Grades Math: Negative Numbers
- NMTA Middle Grades Math: Absolute Value
- NMTA Middle Grades Math: Inequalities
- NMTA Middle Grades Math: Factoring
- NMTA Middle Grades Math: Monomials & Polynomials
- NMTA Middle Grades Math: Writing Algebraic Expressions
- NMTA Middle Grades Math: Basic Algebraic Expressions
- NMTA Middle Grades Math: Algebraic Distribution
- NMTA Middle Grades Math: Writing & Solving One-Step Equations
- NMTA Middle Grades Math: Writing & Solving Two-Step Equations
- NMTA Middle Grades Math: Simplifying & Solving Rational Expressions
- NMTA Middle Grades Math: The Coordinate Graph
- NMTA Middle Grades Math: Linear Equations
- NMTA Middle Grades Math: Systems of Linear Equations
- NMTA Middle Grades Math: Rates, Ratios & Proportions
- NMTA Middle Grades Math: Measurement
- NMTA Middle Grades Math: Perimeter & Area
- NMTA Middle Grades Math: Polyhedrons & Geometric Solids
- NMTA Middle Grades Math: Symmetry, Similarity & Congruence
- NMTA Middle Grades Math: Properties of Lines
- NMTA Middle Grades Math: Triangles
- NMTA Middle Grades Math: Triangle Theorems & Proofs
- NMTA Middle Grades Math: Similar Polygons
- NMTA Middle Grades Math: The Pythagorean Theorem
- NMTA Middle Grades Math: Quadrilaterals
- NMTA Middle Grades Math: Circles
- NMTA Middle Grades Math: Circular Arcs & Measurement
- NMTA Middle Grades Math: Transformations
- NMTA Middle Grades Math: Data & Graphs
- NMTA Middle Grades Math: Statistics
- NMTA Middle Grades Math: Data Collection
- NMTA Middle Grades Math: Samples & Populations
- NMTA Middle Grades Math: Probability
- NMTA Middle Grades Math: Sets
- NMTA Middle Grades Mathematics Flashcards