| MATH 1600 : BUSINESS MATHEMATICS |
|---|
3 Credit Course
Offered in Lab or Lecture or TV Format
Prerequisite required (MATH 0500 or Appropriate Placement-Test score)
SYLLABUS
I. FUNDAMENTAL PREPARATION
**A. Review of fractions and decimals
**B. Review of percent
1. Definition
2. Conversions
a. Fraction and decimal to percent
b. Percent to fraction and decimal
3. Use of formula P = R x B
a. To find P
b. To find B
c. To find R
d. To find % increase or decrease
***C. Equations
1. Solving basic equations
2. Converting word problems into formulas
3. Solving business equations
II. SIMPLE INTEREST
A. Use of I=PRT and S=P+I to find I and S
B. Ordinary and exact interest, approximate and exact time
C. Use of I=PRT to find P,R,T
D. Use of P =to find present value
III. COMPOUND INTEREST
A. Compound amount and interest
B. Present value
IV. BANK DISCOUNT
A. Use of formulas to find discount, proceeds, discount rate, time and maturity value
B. Discounting of interest-bearing notes
C. Rediscounting of non-interest bearing notes
V. TRADE DISCOUNT
A. Computation of net price
B. Computation of % paid and single discount equivalent to a series discount
VI. CASH DISCOUNT
A. Discounts given in terms of trade
B. EOM, ROG, Extra, As-of dating
C. Cash discounts problem
1. With and without freight charges
2. With partial payments
*D. Borrowing to take advantage of cash discount
VII. MARKUP AND MARKDOWN
A. Computation of cost, markup, selling price, % markup
B. % markup on cost problems
1. Cost given
2. Selling price given
C. % markup on selling price problems
1. Cost given
2. Selling price given
D. Markdown problems
*VIII. TAXES
A. Sales tax
B. Property tax
1. Computing tax rate
2. Expressing tax rate
3. Computing tax
*IX. MULTIPLE PAYMENT PLANS
A. U.S. Rule
B. Installment plans
*Optional
**The review of arithmetic should be limited to no more than 15% of course time.
***Optional algebra approach