About This Chapter
The Mathematics of Money - Chapter Summary
In this chapter, you will have the opportunity to study methods for solving money word problems, calculating rates and determining time value. You will also go over how to apply math operations to money amounts. Once you have completed your review of this chapter, you should be able to do the following:
- Add, subtract, multiply and divide money amounts
- Use exchange rates to convert currency
- Follow steps to solve money word problems
- Understand the effects of market interest rates on bonds
- Calculate the time value of money
Learning about these topics is made easy through expert instruction and detailed examples. Lessons can be accessed 24/7 from any device, making it convenient for you to study on any schedule. Short lessons can be reviewed in 5-10 minutes and you can take self-assessment quizzes for each lesson that will reflect your full understanding of the material.
1. 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.
2. 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.
3. 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.
4. Exchange Rates & Currency Conversion
After watching this video lesson, you will learn how currency conversion works. You will be able to convert from one currency to another with ease. Learn the process behind currency conversion.
5. How to Solve Problems with Money
Money matters, and knowing how much things cost will be useful no matter where you go. In this lesson, we'll learn the steps for solving word problems involving money.
6. Present and Future Value: Calculating the Time Value of Money
A central concept in business and finance is the time value of money. We will use easy to follow examples and calculate the present and future value of both sums of money and annuities.
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Other chapters within the QTS Professional Skills Test - Numeracy: Practice & Test Prep course
- About the QTS Numeracy Skills Test
- Basic Math Operations & Mental Math
- Fractions, Decimals & Percentages
- Proportions, Ratios & Averages
- Understanding Graphs & Charts
- Interpreting & Analyzing Data Sets
- Units, Measurements & Conversions
- Solving Word Problems
- QTS Professional Skills Test - Numeracy Flashcards