Basic Math For Everyday Life

The first paragraph focuses on calculating the total amount of money John has. It involves multiplying the number of bills by their respective values and then adding the totals together. John has seven $50 bills, twelve $20 bills, eight $10 bills, and nine $5 bills. By performing the multiplication and addition, John is found to have a total of $715.

The second paragraph deals with Karen's transaction of buying shoes that include sales tax, and calculating her change. Karen pays with two $20 bills for a pair of shoes that cost $32.65. The difference between what she pays and the cost of the shoes is calculated using subtraction. By subtracting the cost from the amount paid, it's determined that Karen should receive $7.35 in change.

The third paragraph is about a team of college students who split their net profit equally. They made $486 from selling t-shirts. To find out how much each student receives, the total profit is divided by the number of team members, which is five. Using long division, it's determined that each student will receive $97.20.

In the fourth paragraph, Carla is deciding between buying a four-pound bag of rice for $3.69 or a five-pound bag for $4.15. To determine the better value, the unit price for each bag is calculated by dividing the cost by the weight. The four-pound bag has a unit price of $0.9225 per pound, while the five-pound bag has a unit price of $0.83 per pound. Therefore, the five-pound bag offers the better value.

The fifth paragraph covers how to calculate a 15% tip for a restaurant bill. Timothy spends $50 and wants to leave a 15% tip. By first calculating 10% and then finding half of that for 5%, the total tip is determined to be $7.50. This is verified by converting the percentage to a decimal and multiplying it by the bill amount, yielding the same result.

The sixth paragraph is about Megan, who has $50,000 in a checking account with a simple interest rate of 2% annually. To find out how much interest Megan will receive each year, the simple interest formula is used. The interest rate is converted to a decimal, and the calculation results in Megan receiving $1,000 in interest each year.

The seventh paragraph involves Greg buying a laptop with a discount and tax. The laptop costs $599, and Greg has a coupon for a 20% discount. After calculating the discount, a sales tax of 7% is applied to the discounted price. The final calculation shows that Greg will spend $512.74 on the laptop after the discount and tax are applied.

In the eighth paragraph, Andrew invests $30,000 in a mutual fund that grows at an average rate of 10% per year. To estimate the value of the investment after 20 years, the compound interest formula is used. The calculation, using the continuous growth formula, results in the mutual fund being worth $221,671.68 after 20 years.

The ninth paragraph calculates David's return on investment (ROI) for a house. David buys a house for $200,000, and after ten years, it's worth $320,000. The ROI is calculated by dividing the profit (the difference between the selling price and the purchase price) by the cost of investment and then multiplying by 100%. David's ROI is found to be 60% over the 10-year period.

The final paragraph, number six, deals with calculating Julia's monthly mortgage payment for a 30-year, $250,000 loan at a 4% fixed interest rate. Using the mortgage payment formula, the monthly payment is determined to be $1,193.54. The total amount to be repaid over the 30 years is $429,674.40, which includes both the principal and the interest. The total interest paid over the life of the loan is $179,674.40.

The last paragraph, number seven, concludes the video by emphasizing the practical application of basic math in everyday life. It serves as a summary of the various real-life scenarios presented in the video, highlighting the importance of mathematical skills for daily transactions and decision-making.