Business Mathematics

Business Mathematics

1st Edition - January 1, 1986

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  • Author: Michael Sentlowitz
  • eBook ISBN: 9781483260198

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Description

Business Mathematics deals with the concepts and problem-solving techniques used in business mathematics. Learning objectives are included at the beginning of each chapter to give the student an overview of the skills they can expect to master after completing the chapter, along with worked-out examples and practice exercises; drill problems and word problems; and post-tests that let students measure their problem-solving skills. Topics covered in this book include operations with whole numbers, decimals, fractions, and percent; sales and inventory; finance; business and personal expenses; borrowing and investing; and data analysis. Starting with the fourth chapter, a case study is included at the end of each chapter for an in-depth analysis and discussion of a hypothetical business-related situation. Optional subsections in each chapter deal with mental arithmetic skills. Step-by-step problem-solving procedures are translated into written formulas, located in easy-to-find boxes for quick reference. A chapter glossary includes definitions for all key terms introduced in the chapter. The answer key at the end of the text includes all the answers for the pretests and post-tests, plus the answers to odd-numbered exercises. This monograph is intended for instructors of business mathematics and for their students who want to understand the concepts and master the problem-solving techniques of business mathematics.

Table of Contents


  • Preface

    Part 1 Arithmetic: Basic Operations and Bank Statements

    Pretest 1

    Chapter 1 Operations with Whole Numbers and Decimals

    1.1 Hindu-Arabic Numeration

    1.2 Rounding Whole Numbers and Decimals

    1.3 Addition Involving Whole Numbers and Decimals

    1.4 Subtraction Involving Whole Numbers and Decimals

    1.5 Multiplication Involving Whole Numbers and Decimals

    1.6 Division Involving Whole Numbers and Decimals

    1.7 Order of Operations

    1.8 Record Keeping for Checking Accounts

    Glossary

    Posttest 1-A

    Posttest 1-B

    Posttest 1-C

    Pretest 2

    Chapter 2 Operations with Fractions

    2.1 An Introduction to Fractions

    2.2 Adding and Subtracting Fractions

    2.3 Multiplying and Dividing Fractions

    2.4 Converting Fractions to Decimals and Decimals to Fractions

    Glossary

    Posttest 2-A

    Posttest 2-B

    Posttest 2-C

    Pretest 3

    Chapter 3 Percents

    3.1 An Introduction to Percents

    3.2 Percentage = Base × Rate: Finding the Percentage

    3.3 Percentage = Base × Rate: Finding the Rate

    3.4 Percentage = Base × Rate: Finding the Base

    3.5 Percentage = Base × Rate: Miscellaneous Problems

    3.6 Rate of Increase or Decrease

    Glossary

    Posttest 3-A

    Posttest 3-B

    Posttest 3-C

    Part 2 Sales and Inventory

    Chapter 4 Pricing: Manufacturers and Wholesalers

    4.1 The Invoice

    4.2 Trade Discounts

    4.3 Payment Terms, Cash Discounts, and Shipping Charges

    Case Study

    Glossary

    Posttest 4-A

    Posttest 4-B

    Posttest 4-C

    Chapter 5 Pricing: Retailers

    5.1 Markup Based on Cost

    5.2 Markup Based on the Sales Price

    5.3 Markdowns

    5.4 Sales Tax

    Case Study

    Glossary

    Posttest 5-A

    Posttest 5-B

    Posttest 5-C

    Chapter 6 Inventory

    6.1 Inventory: Quantity on Hand

    6.2 Cost of Goods Sold and Inventory Valuation

    6.3 Estimating Inventory Values

    6.4 Inventory Turnover Ratio

    Case Study

    Glossary

    Posttest 6-A

    Posttest 6-B

    Posttest 6-C

    Part 3 Business and Personal Expenses

    Chapter 7 Depreciation

    7.1 Depreciation: An Introduction

    7.2 Depreciation: Straight-Line Method

    7.3 Depreciation: Units-of-Production Method

    7.4 Depreciation: Declining-Balance Method

    7.5 Depreciation: Sum-of-the-Years'-Digits Method

    7.6 Depreciation: Accelerated Cost Recovery System

    Case Study

    Glossary

    Posttest 7-A

    Posttest 7-B

    Posttest 7-C

    Chapter 8 Payroll

    8.1 Gross Earnings: Salaried Employees

    8.2 Gross Earnings: Base Salary Plus Commission

    8.3 Gross Earnings: Hourly Wages

    8.4 Gross Earnings: Piece Rate

    8.5 Payroll Deductions: FICA and Federal Withholding Tax

    8.6 Payroll Register and Other Deductions

    8.7 Personal Income Tax

    Case Study

    Glossary

    Posttest 8-A

    Posttest 8-B

    Posttest 8-C

    Chapter 9 Insurance

    9.1 Insurance: An Introduction

    9.2 Fire Insurance: Building and Contents

    9.3 Motor Vehicle Insurance

    9.4 Life Insurance

    Case Study

    Glossary

    Posttest 9-A

    Posttest 9-B

    Posttest 9-C

    Part 4 The Mathematics of Finance

    Chapter 10 Simple Interest

    10.1 Interest and Maturity Value

    10.2 Finding the Principal, Rate, or Time

    10.3 Promissory Notes

    10.4 Discounting: Simple Discount Notes

    10.5 Discounting a Promissory Note Before Maturity

    Case Study

    Glossary

    Posttest 10-A

    Posttest 10-B

    Posttest 10-C

    Chapter 11 Compound Interest

    11.1 Finding the Compound Amount

    11.2 Daily Compounding

    11.3 Effective Interest Rate

    11.4 Finding the Present Value

    11.5 Finding the Annual Rate

    11.6 Finding the Time

    Case Study

    Glossary

    Posttest 11-A

    Posttest 11-B

    Posttest 11-C

    Chapter 12 Annuitites

    12.1 Finding the Amount of an Annuity

    12.2 Finding the Present Value of an Annuity

    12.3 Perpetuities

    Case Study

    Glossary

    Posttest 12-A

    Posttest 12-B

    Posttest 12-C

    Part 5 Borrowing and Investing

    Chapter 13 Business and Consumer Finance

    13.1 Sinking Funds

    13.2 Personal Loans: Credit Cards

    13.3 Personal Loans: Installment Plan and the True Annual Rate

    13.4 Amoritization of Loans

    13.5 Early Payoff of Loans

    Case Study

    Glossary

    Posttest 13-A

    Posttest 13-B

    Posttest 13-C

    Chapter 14 Stocks, Bonds, and Real Estate

    14.1 Purchasing Corporate Stock

    14.2 Dividends

    14.3 Purchasing Bonds

    14.4 Real Estate and Property Tax

    Case Study

    Glossary

    Posttest 14-A

    Posttest 14-B

    Posttest 14-C

    Part 6 Analysis of Data

    Chapter 15 Analysis of Financial Statements

    15.1 Introduction

    15.2 The Balance Sheet

    15.3 The Income Statement

    Case Study

    Glossary

    Posttest 15-A

    Posttest 15-B

    Posttest 15-C

    Chapter 16 Descriptive Statistics

    16.1 Frequency Distributions

    16.2 Statistical Graphs

    16.3 Measures of Central Tendency: Mean, Median, and Mode

    Case Study

    Glossary

    Posttest 16-A

    Posttest 16-B

    Posttest 16-C

    Answers to Selected Exercises

    Index

Product details

  • No. of pages: 584
  • Language: English
  • Copyright: © Academic Press 1986
  • Published: January 1, 1986
  • Imprint: Academic Press
  • eBook ISBN: 9781483260198

About the Author

Michael Sentlowitz

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