# Introduction to Financial Math

## Subtopics

1. Develop fluency in addition, subtraction, multiplication, and division of basic operations with and without calculators. |

2. Solve one- and two-step problems involving whole numbers, fractions, and decimals using addition, subtraction, multiplication, and division. |

3. Solve practical computation problems for business such as calculating wages after taxes, developing a budget, and balancing a checkbook. |

4. Analyze problem statements for missing/irrelevant data; estimate/exact values, and inconsistent parameters. |

5. Identify business math terms. |

6. Prove that results of computations using whole numbers, fractions, decimals, percents, and proportions are correct. |

7. Recognize patterns and relationships among numbers. |

8. Estimate the results of rational number computations and judge the reasonableness of the results. |

9. Identify and use relationships between operations, such as division as the inverse of multiplication to solve problems. |

10. Apply relational (equal, greater than, less than, etc.) and logical operations in a logical expression. |

11. Select appropriate methods and tools for computing with whole numbers from mental computation, estimation, calculators, and paper and pencil. |

12. Convert within and between measurement systems (metric and customary) and monetary systems using technology where appropriate. |

13. Estimate conversions between the customary and metric systems. |

14. Use the appropriate type of unit to calculate measurement of length, area, weight, volume, angles, and perimeter. |

15. Construct or draw figures with given perimeters and areas. |

16. Interpret scale drawings and models using maps and blueprints. |

17. Use touch method on calculator to solve math problems that relate to business and industry. |

1. Define credit and credit terms. |

2. Identify the costs and benefits of various types of credit. |

3. Calculate sales tax. |

4. Compute total purchase price with interest added. |

5. Compute the costs involved in owning and buying an item such as an automobile. |

6. Compute finance charges for single payment loans. |

7. Compare installment and revolving credit costs. |

8. Calculate installment loan costs such as amount financed the installment price, finance charge, and installment payment. |

9. Find the estimated annual percentage rate (APR) using a table. |

10. Find the finance charge and new balance using the average daily balance method. |

1. Using a data set, determine mean, median, and mode. |

2. Determine the type of average that best represents the measure of central tendency. |

3. Distinguish between a simple average and a weighted average and calculate each. |

4. Identify and construct various types of graphs and charts. |

5. Compile and arrange facts in an organized manner for a table, chart, or figure. |

6. Explain or prepare written summary of findings expressed in tables, charts, graphs, and figures. |

7. Make predictions and decisions based on data and communicate their reasoning. |

1. Round decimals to the nearest tenth and nearest hundredth. |

2. Add, subtract, multiply, and divide decimals. |

3. Convert a decimal to a fraction. |

4. Convert a fraction to a decimal. |

5. Read and write decimals using the place-value structure of the base-ten number system. |

6. Solve business problems with currency. |

1. Identify the various types of discounts. |

2. Calculate the percentage of a discount of an item. |

3. Calculate a chain discount and net selling price. |

4. Calculate trade discounts and net selling price. |

5. Calculate cash discounts and net selling price. |

1. Add, subtract, divide, and multiply fractions and mixed numbers with like (common) and unlike denominators. |

2. Work flexibly with fractions to solve application problems. |

3. Convert fractions to decimals, decimals to fractions, and use properties of basic operations to simplify fractional arithmetic expressions. |

4. Convert an improper fraction to a whole or mixed number. |

5. Convert a whole or mixed number to an improper fraction. |

6. Reduce a fraction to lowest terms and raise a fraction to higher terms. |

7. Apply appropriate methods for computing with fractions from among mental computation, estimation, calculators, or computers and paper and pencil. |

1. Define the terms base, rate, and percentage and identify them in word problems. |

2. Solve for base, rate, or part in a percent problem. |

3. Convert a whole number, fraction, or decimal to a percent. |

4. Convert a percent to a whole number, fraction, or decimal. |

5. Use the percentage formula to find the unknown value when two values are known. |

6. Find the rate or the base in the increase or decrease of an item. |

7. Calculate markup and markdown of original value of item. |

8. Calculate simple interest. |