Consumer math comprises practical

mathematical Mathematics is a field of study that discovers and organizes methods, Mathematical theory, theories and theorems that are developed and Mathematical proof, proved for the needs of empirical sciences and mathematics itself. There are many ar ...

techniques used in

commerce Commerce is the organized Complex system, system of activities, functions, procedures and institutions that directly or indirectly contribute to the smooth, unhindered large-scale exchange (distribution through Financial transaction, transactiona ...

and everyday life. In the United States, consumer math is typically offered in

high school A secondary school, high school, or senior school, is an institution that provides secondary education. Some secondary schools provide both ''lower secondary education'' (ages 11 to 14) and ''upper secondary education'' (ages 14 to 18), i.e., ...

s, some

elementary school A primary school (in Ireland, India, the United Kingdom, Australia, New Zealand, Trinidad and Tobago, Jamaica, South Africa, and Singapore), elementary school, or grade school (in North America and the Philippines) is a school for primary ...

s, or in some colleges which grant

associate's degrees An associate degree or associate's degree is an undergraduate degree awarded after a course of post-secondary study lasting two to three years. It is a level of academic qualification above a high school diploma and below a bachelor's degree ...

. A U.S. consumer math course might include a review of

elementary arithmetic Elementary arithmetic is a branch of mathematics involving addition, subtraction, multiplication, and Division (mathematics), division. Due to its low level of abstraction, broad range of application, and position as the foundation of all mathema ...

, including

fractions A fraction (from , "broken") represents a part of a whole or, more generally, any number of equal parts. When spoken in everyday English, a fraction describes how many parts of a certain size there are, for example, one-half, eight-fifths, thre ...

decimals The decimal numeral system (also called the base-ten positional numeral system and denary or decanary) is the standard system for denoting integer and non-integer numbers. It is the extension to non-integer numbers (''decimal fractions'') of the ...

, and

percentages In mathematics, a percentage () is a number or ratio expressed as a fraction of 100. It is often denoted using the ''percent sign'' (%), although the abbreviations ''pct.'', ''pct'', and sometimes ''pc'' are also used. A percentage is a dimen ...

. Elementary

algebra Algebra is a branch of mathematics that deals with abstract systems, known as algebraic structures, and the manipulation of expressions within those systems. It is a generalization of arithmetic that introduces variables and algebraic ope ...

is often included as well, in the context of solving practical business problems. The practical applications typically include: changing money,

checking accounts A transaction account (also called a checking account, cheque account, chequing account, current account, demand deposit account, or share account at credit unions) is a deposit account or bank account held at a bank or other financial instituti ...

budgeting A budget is a calculation plan, usually but not always financial plan, financial, for a defined accounting period, period, often one year or a month. A budget may include anticipated sales volumes and revenues, resource quantities including tim ...

, price discounts, markups and markdowns,

payroll A payroll is a list of employment, employees of a company who are entitled to receive compensation as well as other work benefits, as well as the amounts that each should obtain. Along with the amounts that each employee should receive for time ...

calculations, investing ( simple and compound interest), "Wilmington University Course Descriptions", wilmu.edu, 2010, webpage:
WU205

taxes A tax is a mandatory financial charge or levy imposed on an individual or legal entity by a governmental organization to support government spending and public expenditures collectively or to regulate and reduce negative externalities. Tax co ...

, consumer and business credit, and

mortgages A mortgage loan or simply mortgage (), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any pur ...

. The emphasis in these courses is on computational skills and their practical application, with practical application being predominant. For instance, while computational formulas are covered in the material on interest and mortgages, the use of prepared tables based on those formulas is also presented and emphasized.

References

Bibliography

* Brechner, Robert. (2006). ''Contemporary Mathematics for Business and Consumers,'' Thomson South-Western. * T. R. Ittelson, (2009), "Financial Statements", Career Press, 2009. {{Consumerism Mathematics education Mathematical finance

See also

References

Bibliography