BMA-110: Business Math

School
Business, Entrepreneurship, & Professional Development
Department
Business Administration
Academic Level
Undergraduate
Course Subject
Business Math
Course Number
110
Course Title
Business Math
Credit Hours
3.00
Instructor Contact Hours Per Semester
47.00 (for 15-week classes)
Student Contact Hours Per Semester
47.00 (for 15-week classes)
Grading Method
A-E
Pre-requisites
Complete MATH-0774 OR MATH-074 with a C grade or better or a satisfactory score on the Math placement exam and ENG-081 or ENG-082 eligible
Catalog Course Description

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

Core Course Topics

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

  1. Whole Number: Additions, Subtraction, Multiplication, and Division
    1. Perform basic addition, subtraction, multiplication, and division calculations.
  2. Decimals and Fractions as Percents in Business
    1. Add, subtract, multiply, and divide numbers with decimals.
    2. Calculate percentages.
    3. Demonstrate by conversion the relationship among fractions, decimals, and percentages.*
    4. Solve increase and decrease story problems related to business scenarios.*
  3. Fundamentals of Solving Equations
    1. Solve equations using basic rules.
    2. Solve equations requiring more than one operation.
    3. Combine like terms in equations.
    4. Employ the distributive property to simplify equations.
  4. Payroll
    1. Calculate gross earnings for a variety of payroll methods including hourly, salary, piecework, and commission.*
    2. Calculate overtime earnings for a variety of payroll methods including hourly, salary, piecework, and commission.*
    3. Calculate equivalent earnings for different pay periods.*
    4. Calculate Social Security tax, Medicare tax, federal tax, and state tax on earnings.
  5. Discounts
    1. Calculate series discounts.
    2. Differentiate between single and series discounts.*
    3. Calculate the net cost equivalent of a series discount.*
    4. Calculate whether discounts are earned.
  6. Markup
    1. Calculate markup based on cost.*
    2. Calculate markup based on selling price.*
    3. Solve for cost or selling price based on markup.*
    4. Determine the break-even point.*
    5. Determine the amount of gross or absolute profit or loss.*
  7. Simple and Compound Interest
    1. Solve for simple interest.
    2. Calculate maturity value on a simple interest account.
    3. Solve for principal, rate, and time.
    4. Differentiate between simple and compound interest.*
    5. Solve for compound interest.
    6. Calculate maturity value on a compound interest account.
    7. Estimate the value of an investment using future and present value.*
  8. Business and Consumer Loans
    1. Define open-end credit and charge cards.
    2. Calculate finance charges based on various terms of agreement.*
    3. Calculate monthly payments, interest amounts, and payoff amounts of an installment loan, personal property loan, or real estate loan.*
  9. Depreciation
    1. Use the straight-line method to solve for depreciation.*
  10. Business Statistics
    1. Solve for the mean, median, and mode of a list of numbers.

Assessment and Requirements

Assessment of Academic Achievement

Students will be assessed through tests, quizzes, assignments, and/or class participation.

Credit for Prior College-Level Learning

Options for Credit for Prior College-Level Learning
Other

Approval Dates

Effective Term
Fall 2015
ILT Approval Date
08/26/2015
Curriculum Committee Approval Date
10/05/2015