Catalog Course Search Details

 Department:    BUS

 Course #:    111

 Credits:    5

 Variable:     No

 IUs:    5

 CIP:    521401

 EPC:    245

 REV:    2024

 Course Description  

Applied mathematics in daily business experiences. Basic mathematics (whole numbers, decimals, fractions, percents, ratios, equations and formulas) applied to business cases. Additional mathematical applications as they relate to banking, (including introductory international/cultural issues) payroll, purchasing, selling, interest, inflation, annuities, stocks, bonds, loans, taxes, insurance, depreciation, financial statements, ratios, metric system, business statistics, financial calculators. Practical mathematical problem solving techniques explored through presentations, discussion, and lab work. This course is non-transferable and for professional/technical students only.

 Prerequisite  

Prerequisite: Recommended - Basic Arithmetic skills including fractions and percentages, Math 095 with a grade of C or higher, or equivalent. Math placement score or instructor permission.

Contact Hours (based on 11 week quarter)

Lecture: 55

Lab: 0

Other: 0

Systems: 0

Clinical: 0

Intent: Distribution Requirement(s) Status:  

Vocational Preparatory Quantitative, Required for ATA degree, Required for certificate  

Equivalencies At Other Institutions

Learning Outcomes

After completing this course, the student will be able to:

1. Solve problems with whole numbers and decimals.
   • Addition, subtraction, multiplication, and division of whole numbers.
   • Basics of decimals � review and problem solve using addition, subtraction, multiplication, and division of decimals.
2. Problem solve with fractions.
   • Demonstrate the basics of fractions.
   • Demonstrate addition, subtraction, multiplication, and division of fractions.
   • Demonstrate addition and subtraction of mixed numbers.
   • Convert decimals to fractions and fractions to decimals.
3. Problem solve using percentages.
   • Write decimals and fractions as percents.
   • Solve the percent formula to find the part. Solve the percent formula to find the base. Solve the percent formula to find the rate.
   • Demonstrate increase and decrease problem solving.
4. Problem solving with equations and formulas.
   • Solve equations. Apply equations.
   • Apply business formulas.
   • Solve problems with ratio and proportion.
5. Define the mathematics of banking.
   • Demonstrate and explain the differences between electronic banking, checking accounts, and check registers.
   • Compare checking services and credit-card transactions.
   • Demonstrate bank statement reconciliation.
6. Demonstrate and problem solve the mathematics of preparing payroll.
   • Compute gross earnings: wages and salaries.
   • Compute gross earnings: piecework and commissions.
   • Compute Social Security, Medicare, and other taxes
   • Compute income tax withholding.
7. Demonstrate and use the mathematics of buying.
   • Demonstrate the use of invoices and trade discounts.
   • Compute series discounts and single discount equivalents.
   • Compare and problem solve with cash discounts: ordinary dating method. Compare and problem solve with cash discounts: other dating methods.
8. Understand and apply the mathematics of selling.
   • Apply markup on cost and on selling price.
   • Apply markdown.
   • Demonstrate knowledge of turnover and valuation of inventory.
9. Solve problems with simple interest.
   • Define the basics of simple interest.
   • Define principal, rate, and time to solve various problems.
   • Demonstrate simple discount notes.
   • Define discounting a note before maturity.
10. Define compound interest and inflation.
    • Demonstrate and problem solve with compound interest.
    • Demonstrate the relationship between interest-bearing bank accounts and inflation.
    • Explain present value and future value.
11. Understand mathematics of, and problem solving with, annuities, stocks, and bonds.
    • Define annuities and retirement accounts.
    • Determine the present value of an ordinary annuity.
    • Define sinking funds (finding annuity payments).
    • Compare stocks and mutual funds.
    • Solve problems with bonds.
12. Problem solve using mathmatics regarding business and consumer loans.
    • Compare open-end credit and charge cards. Compare personal property loans. Compare real estate loans.
    • Evaluate installment loans.
    • Define early payoff of loans.
13. Demonstrate mathematics of, and problem solving with, taxes and insurance.
    • Calculate property tax. Calculate personal income tax.
    • Demonstrate decision making for fire insurance. Demonstrate decision making for motor-vehicle insurance.
    • Compare mathematical implications of life insurance decisions.
    • Demonstrate problem solving with financial planning for property taxes and insurance.
14. Demonstrate the mathematics of depreciation.
    • Demonstrate the straight-line method. Demonstrate the declining-balance method.
    • Demonstrate the sum-of-the-year's-digits method. Demonstrate the units-of-production method.
    • Demonstrate the modified accelerated cost recovery system.
15. Demonstrate the mathematics of, and decision making with, financial statements and ratios.
    • Prepare and analyze income statements.
    • Prepare and analyze a balance sheet.
16. Solve problems with business statistics.
    • Compare and solve problems with mean, median, and mode.
17. Demonstrate the metric system.
18. Define the basics of international banking and currency conversion.
19. Explain the contributions and uses of business mathematics in various cultures.

General Education Learning Values & Outcomes

Revised August 2018 and affects outlines for 2019 and later.

Quantify

Definition: Apply mathematical skills quantitatively, logically, creatively, and critically.

Course Contents

1. Addition, subtraction, multiplication and division of whole numbers and decimals.
2. Addition, subtraction, multiplication and division of fractions and mixed numbers.
   • Converting decimals to fractions and fractions to decimals.
3. Percent and percentages.
   • Writing decimals and fractions as percents.
   • Finding part, base, and rate.
   • Increase and decrease problems.
4. Equations and formulas.
   • Solving equations and applications of equations.
   • Business formulas.
   • Ratio and proportion.
5. Mathematics of banking.
   • Electronic banking, checking accounts, and check registers.
   • Checking services and credit card transactions.
   • Bank statement reconciliation.
6. Mathematics of payroll.
   • Computing gross earnings: wages and salaries.
   • Gross earnings: piecework and commissions.
   • Computing Social Security, Medicare and other taxes.
   • Income tax withholding.
7. Mathematics of buying.
   • Invoices and trade discounts; series discounts and single discount equivalents.
   • Cash discounts: ordinary dating method. Cash discounts: other dating methods.
8. Mathematics of selling.
   • Markup on cost and markup on selling price.
   • Markdown.
   • Turnover and valuation of inventory.
9. Simple interest.
   • Finding principle, rate, and time.
   • Simple discount notes.
   • Discounting a note before maturity.
10. Compound interest and inflation.
    • Compound interest.
    • Interest-bearing bank accounts and inflation.
    • Present value and future value.
11. Mathematics of annuities, stocks, and bonds.
    • Annuities and retirement accounts. Present value of an ordinary annuity.
    • Sinking funds (finding annuity payments).
    • Stocks, bonds, and mutual funds.
12. Mathematics of business and consumer loans.
    • Open-end credit and charge cards.
    • Installment loans. Early payoff of loans.
    • Personal property loans. Real estate loans.
13. Mathematics of taxes and insurance.
    • Property tax and personal income tax.
    • Fire insurance, motor vehicle insurance, and life insurance.
    • Financial planning for property tax and insurance.
14. Mathematics of depreciation.
    • Straight-line method. Declining-balance method.
    • Sum of the year digits method. Units-of-production method.
    • Modified accelerated cost recovery system.
15. Mathematics of financial statements and ratios.
    • The income statement and analyzing the income statement.
    • The balance sheet and analyzing the balance sheet.
16. Business statistics.
    • Frequency distributions and graphs.
    • Mean, median, and mode.
17. The metric system.
18. International banking and currency conversion.
19. Business mathematics in various cultures.