# Ch 18: OAE Middle Grades Math: Money & Consumer Math

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### About This Chapter

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

As you study for the OAE Middle Grades Math exam, use this chapter to review money and consumer math. The lessons in this chapter delve into the everyday applications of math, like calculating the change you receive after a purchase or determining how much to tip. Additional topics include:

- Solving interest problems
- Determining sales commissions
- Calculating shipping and handling
- Applying taxes and discounts
- Multiplying and dividing with money

Our math instructors are experts when it comes to money and consumer math problems, and they've created video lessons with plenty of real-world examples and straightforward explanations to ensure you learn the material with ease. At the conclusion of each lesson, assess your skills with a self-guided quiz. You can always reach out to our teachers any time you have questions.

### Objectives of the OAE Middle Grades Math: Money & Consumer Math Chapter

If you'd like to teach middle school math in Ohio, you'll need to pass the OAE Middle Grades Math test in order to qualify for your state credential. This exam consists of 150 multiple-choice questions that test your knowledge of everything from functions to geometric equations. You'll also need to solve questions that involve money and consumer math calculations - the video lessons in this chapter are specifically designed to help you ace those kinds of real-world questions, which will be found in the Number Sense and Operations objective which comprises 17% of the exam.

You can register online for the OAE Middle Grades Math test throughout the year, and plenty of testing centers throughout Ohio are available. On test day, you're provided with a calculator and a page of formulas. You'll have four hours and 15 minutes to answer all 150 questions, and you'll receive an e-mailed score report roughly one month after you take the test.

### 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 need 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.

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### Other Chapters

Other chapters within the Ohio Assessments for Educators - Middle Grades Mathematics: Practice & Study Guide course

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