Presents basic math problems from a business person's point of view. Coursework offers a short review of addition, subtraction, multiplication, and division principles, and then moves onto decimals, percentages, fractions, and the relationships among them. Also covers payroll, discounts, markup, interest, loans, and depreciation.
Goals, Topics, and Objectives
Upon successful completion of this course, students should be able to:
- Whole Number: Additions, Subtraction, Multiplication, and Division
- Perform basic addition, subtraction, multiplication, and division calculations.
- Decimals and Fractions as Percents in Business
- Add, subtract, multiply, and divide numbers with decimals.
- Calculate percentages.
- Demonstrate by conversion the relationship among fractions, decimals, and percentages.*
- Solve increase and decrease story problems related to business scenarios.*
- Fundamentals of Solving Equations
- Solve equations using basic rules.
- Solve equations requiring more than one operation.
- Combine like terms in equations.
- Employ the distributive property to simplify equations.
- Calculate gross earnings for a variety of payroll methods including hourly, salary, piecework, and commission.*
- Calculate overtime earnings for a variety of payroll methods including hourly, salary, piecework, and commission.*
- Calculate equivalent earnings for different pay periods.*
- Calculate Social Security tax, Medicare tax, federal tax, and state tax on earnings.
- Calculate series discounts.
- Differentiate between single and series discounts.*
- Calculate the net cost equivalent of a series discount.*
- Calculate whether discounts are earned.
- Calculate markup based on cost.*
- Calculate markup based on selling price.*
- Solve for cost or selling price based on markup.*
- Determine the break-even point.*
- Determine the amount of gross or absolute profit or loss.*
- Simple and Compound Interest
- Solve for simple interest.
- Calculate maturity value on a simple interest account.
- Solve for principal, rate, and time.
- Differentiate between simple and compound interest.*
- Solve for compound interest.
- Calculate maturity value on a compound interest account.
- Estimate the value of an investment using future and present value.*
- Business and Consumer Loans
- Define open-end credit and charge cards.
- Calculate finance charges based on various terms of agreement.*
- Calculate monthly payments, interest amounts, and payoff amounts of an installment loan, personal property loan, or real estate loan.*
- Use the straight-line method to solve for depreciation.*
- Business Statistics
- Solve for the mean, median, and mode of a list of numbers.
Assessment and Requirements
Students will be assessed through tests, quizzes, assignments, and/or class participation.