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Mathematics of Everyday Life

Series: Mathematics of Everyday Life

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Episodes

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Year

2021

Language

English

Publisher

The Great Courses

About

Taught by Professor Mohamed Omar of Harvey Mudd College, this course shows how basic math skills can make your life better-in personal finance, health, and social responsibility. The course tackles how to save for retirement, what kind of insurance to buy, taking out a mortgage, whether to rent or buy housing, reducing your carbon footprint, and other life issues that greatly benefit from mathematical analysis.

Related Subjects

Educational

Episodes

1. The Magic of Compound Interest

31m

Explore the marvel Albert Einstein called "the eighth wonder of the world"-compound interest, which is the strategy of reinvesting interest rather than paying it out. Simple calculations show that a retirement nest egg of $1 million or more is within reach for those who start investing early. Learn why the average rate of return can be misleading. Also get tips for building a college fund.

2. How Mortgages Really Work

28m

Go house hunting, analyzing your payments at different mortgage interest rates and terms (15-year versus 30-year). Learn the formulas behind online mortgage calculators to get deeper insight into the snowballing effect of interest expenses across time. Also consider whether it makes more sense to rent than to buy, weighing the hidden costs of home ownership over the benefits.

3. How To Get Out of Credit Card Debt

27m

The miracle of compound interest that enriches savers can make paupers of those with credit card debt. Learn why this form of borrowing is so risky and potentially ruinous. Explore strategies for paying off credit card debt and consider whether it makes sense to keep credit cards for perks. Then look into college loans, weighing costs versus benefits, and also examining alternatives to loans.

4. The Real Cost of Commuting

29m

Over our working lives, many of us spend a total of a year or more driving to and from the office. Is it worth it? Professor Omar uses simple calculations to assess the true costs of commuting, taking into consideration the relative price of real estate in the city and suburbs, the expense of cars and upkeep, and not least the psychological toll of sitting in a traffic jam day after day.

5. Understanding Your Health Data

30m

Investigate numbers you are likely to encounter in the doctor's office. What do body mass index (BMI) and blood pressure signify? Both correlate measured values with possible health issues. But as you learn, correlation does not imply causation. Also consider questions to ask when faced with statistics for different medical treatments, bearing in mind a phenomenon called Simpson's paradox.

Extended Details

SeriesMathematics of Everyday Life

Closed CaptionsEnglish

Artists

The Great Coursesdirector

The Great Coursesproducer

Mohamed Omaractor

Mathematics of Everyday Life

About

Related Subjects

Episodes

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