Math 1050
Mathematics
It may not teach us how to breathe oxygen and how to exhale carbon dioxide. Or to love a friend and forgive an enemy.It may not even helps us to find our way to our one true love. But it gives a Reason to hope that every Problem has a Solution.
What you have learned from the activity? The most important thing that i have learned from the Credit Card Debt Assignment was, credit cards can really be dangerous if a person is not fully educated and prepared to establish and maintain a good credit history. I also am taking away from this project that is never a bad idea to double, even triple up on the payments. After completing this project I now have a full understanding on how to deal with my credit cards also, I can understand why so many people in up in major credit card debt.
How the math from the project can be applied to other real life situations? Give Examples. This project can easily be done on all your current credit cards. You can easily take the numbers and information from each credit card plug it into the formulas used and figure out how much money you 'should' be paying towards your credit cards each payment. Once you have figured out the payment that is most beneficial you will be able to better budget and help your credit score to rise.
Which mathematical concepts were included in the activity, and how this activity increased your understanding of the mathematical concept(s)?
The mathematical concepts most useful from he project was the APR, Annual Percentage Rate formula. This formula can easily be applied to credit cards and many other loans. Once you have made yourself familiar with the formulas and steps to figuring out finances, your finances then begin to make sense and instead of being a financial mess you can easily be a financial whiz. Business seems fun, and I could see all of these formulas come into use in the field of business, accounting, marketing, etc.
