Saturday, August 06, 2005

Outline: Math 135

Course Title: Business Mathematics

Course Code: Math 135

Hours per week: 3 hours

Duration: 45 hours

Course Description

This course provides the student with basic skills and knowledge that can be used to solve financial problems. It also serves as a basic foundation course for those students intending to complete further studies in the areas of management and accounting or finance.

Course Objectives

Upon completion of this course, students should be able to:

  1. Outline the different ways in which interest on money can be calculated
  2. Explain the meaning of simple interest, compound interest, equivalent rates of interest, promissory and demand notes, annuities, perpetuities, capitalized cost, depletion allowance, stocks and bonds.
  3. Compute problems related to interest, annuities, perpetuities, capitalized cost, depletion allowance, stocks and bonds.
  4. Evaluate options concerning financial decisions based on the results of mathematical computations
  5. Determine financial arrangements that are in the best interest of customers

Course Content

1. Simple interest

1.1 Calculation of Simple Interest

1.2 Partial Payments

1.3 Finding the principal, rate and time

1.4 Promisory notes, simple discount notes

2. Compound Interest and Simple Annuities

2.1 Compound interest by computation and using tables

2.2 Compound Interest-future value

2.3 Interest Compounded daily

2.4 Present value at compound interest

2.5 Annuities and sinking funds

2.6 Amortization

3. Mark-up, Mark-down and Perishables

3.1 Mark-up based on cost

3.2 Mark-up based on selling price

3.3 Mark-down, trade and cash discounts

3.4 Sales Tax

4. Wages and Payroll

4.1 Calculating Wages

4.2 Commission

4.3 Hourly rate basis and overtime

4.4 Employee tax deductions

4.5 Employer payroll taxes

4.6 Voluntary deductions and benefit income

4.7 Net pay

5. Investments

5.1 Stocks and Bonds

5.2 Loan and investment penalties

5.3 Discount and effective rate of return

5.4 Appreciation and depreciation

6. Depreciation

6.1 Concepts of depreciation and straight line method

6.2 Units of production method

6.3 Sum of the year’s digits methods

6.4 Declining balance method

7. Insurance

7.1 Business insurance

7.2 Property insurance

7.3 Life insurance

8. Business Statistics and Data Presentation

8.1 Mean, Median and Mode

8.2 Frequency Distribution and graphs

Pre-requisite: MA 011, BGCSE or equivalent

Evaluation

Assignments 25%

Mid-term 25%

Final Exam 50%

100%

Required Text and Materials

Slater, Jeffery. Practical Business Math Procedures, 7th edition, Danvers Massachussets

Irwin McGraw-Hill, 2003

Calculator with power, reciprocal, natural logarithmic and memory functions

Supplementary Texts

Brechner, Robert A,, Contemporary mathematics for Business Consumers, 3rd. edition.

Mason, Ohio: South Western, 2003.

Hummelbrunner, SA, Contemporary Business Mathematics with Canadian Applications

6th edition, Scarborough, Ontario: Prentice-Hall Canada Inc., 2003

Roueche, Nelda W. and Graves, Virginia H., Business Mathematics- A Collegiate Aproach, 8th edition, Upper Saddle River, New Jersey, prentice Hall, 2001.

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