Describe a situation where you would use the order of operations with money in your daily life.
You go to a cafe with your two friends. You are treating them, and you are all having milk and a cinnamon bagel.
That is one such situation. How is the order of operations important? Work out the bill.
How about calculating compound interest
CI = P * {(1+ R/100)^N}
P = Principal
R = Rate of interest
N = No. of years
CI is the compound interest generated
So you first go for the bracket
(1+ R/100) ---- B
then do the "^N" --- O
and then finally multiply by "P"---M
we follow BODMAS
Bracket, Order, Division, Multiplication, Addition, Substraction
One situation where you would use the order of operations with money in your daily life is when calculating your monthly bills or expenses. For example, let's say you have three bills to pay each month - your rent, your phone bill, and your internet bill. To accurately calculate how much money you need to set aside for these bills, you need to follow the order of operations.
First, you would determine the total amount of rent you owe. Let's assume your rent is $1,200 per month. This calculation doesn't involve any other operations, so you can simply write down $1,200.
Next, you would calculate your total phone bill. Let's say your phone bill is $60 per month. However, you have an outstanding balance from last month, which is $20. To find the total phone bill, you add the outstanding balance to the current month's bill: $60 + $20 = $80.
Finally, you would calculate your total internet bill. Let's say your internet bill is $50 per month, but you have a discount of $10. To find the total internet bill after the discount, you subtract the discount from the original bill: $50 - $10 = $40.
Now, you can calculate your total monthly expenses by adding up your rent, phone bill, and internet bill: $1,200 + $80 + $40 = $1,320.
By following the order of operations (i.e., adding and subtracting before multiplying or dividing), you can accurately calculate your total monthly expenses and plan your budget accordingly.