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

### About This Chapter

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

The lessons in this chapter can help you prepare for consumer math-related questions on the NES Middle Grades Math certification test used in Oregon. The lessons provide an overview of different money-related math problems and equations, such as counting change, calculating commission and marking up a price. Some of the specific topics include:

- Coins
- Adding and subtracting money
- Multiplying and dividing money amounts
- Making change
- Calculating commissions
- Mark ups
- Calculating tax and discounts
- Interest
- Determining shipping and tips
- Unit price

The informative videos in these lessons are taught by experienced instructors who present mathematical topics using graphics and real-life examples to help you remember important points. After watching these videos, you can complete the multiple-choice quizzes to make sure you have a firm understanding of the money-related vocabulary terms and formulas that can help you on test day.

### NES Middle Grades Math: Money & Consumer Math Objectives

The middle grades mathematics educator licensure test is used to measure the knowledge and skills of applicants seeking endorsement for teaching basic math to middle school students in Oregon. It is a computer-based test that includes 150 multiple-choice questions; you have about four hours and fifteen minutes to complete it.

Test questions are pulled from four content areas; questions related to money and consumer math may be part of the number sense and operations area, which make up about 17% of the test questions. Prepare for questions on adding money amounts, making change and calculating interest through the video lessons and self-assessment quizzes in this chapter.

### 1. Coins: Number Value & Letter Name

Learn about the coins that we use to purchase things in the United States, including the value of each type of coin, the name of each type of coin, and what each coin looks like.

### 2. 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.

### 3. 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.

### 4. 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.

### 5. 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.

### 6. 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.

### 7. 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.

### 8. 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.

### 9. 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.

### 10. 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.

### 11. 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.

### 12. 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.

### 13. 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.

### 14. 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 ORELA Middle Grades Mathematics: Practice & Study Guide course

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