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Business Math

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Business Math

Business math is the study of mathematics required by the field of business. Business professionals will work with taxes, gross earnings, product prices, and currency exchange; they will be offered loans, lines of credit, mortgages, leases, savings bonds, and other financial tools. This textbook covers all of these topics and how these financial tools can maximize their earnings and minimize their costs. It discusses how to execute smart monetary decisions both personally and for their business.

Applied MathematicsMathematics
Author
Jean-Paul Olivier
Publisher
Red River College of Applied Arts, Science, & Technology
Source
LibreTexts
License
CC BY-NC-SA
Language
EN
Category
Business Administration
Read online Download PDF (open licence)
Contents· 144 sections
  1. 01: Succeeding in Business Mathematics (How To Use This Textbook)
  2. 1.01: Introduction
  3. 1.01: What Is Business Math
  4. 1.02: How Can I Use The Features Of This Book To My Advantage
  5. 1.03: Where Do We Go From Here
  6. 1.04: Rounding Rules (Appendix 1)
  7. 1.E: Succeeding in Business Mathematics (Exercises)
  8. 02: Back To The Basics (Shoulder Check)
  9. 2.00: Introduction
  10. 2.0S: 2.S: Back To The Basics (Summary)
  11. 2.01: Order of Operations (Proceed In An Orderly Manner)
  12. 2.02: Fractions Decimals and Rounding (Just One Slice Of Pie Please)
  13. 2.03: Percentages (How Does It All Relate)
  14. 2.04: Algebraic Expressions (The Pieces Of The Puzzle)
  15. 2.05: Linear Equations - Manipulating and Solving (Solving the Puzzle)
  16. 2.06: Natural Logarithms (How Can I Get That Variable Out of the Exponent)
  17. 2.E: Back To The Basics (Exercises)
  18. 03: General Business Management Applications (Get Your Motor Running)
  19. 3.00: Introduction to General Business Management Applications
  20. 3.01: Percent Change (Are We Up Or Down)
  21. 3.02: Averages (What Is Typical)
  22. 3.03: Ratios Proportions and Prorating (It Is Only Fair)
  23. 3.04: General Business Management Applications (Summary)
  24. 3.05: Forecasting Future Sales)
  25. 3.E: General Business Management Applications (Exercises)
  26. 04: Human Resources and Economic Applications (Its All about the People)
  27. 4.00: Introduction
  28. 4.0S: 4.S: Human Resources and Economic Applications (Summary)
  29. 4.01: Gross Earnings (Off to Work You Go)
  30. 4.02: Personal Income Tax (The Taxman Taketh)
  31. 4.03: Indexes (The Times Are Changing)
  32. 4.CS: 4.CS: Human Resources and Economic Applications (Case Study-Payroll Planning)
  33. 4.E: Human Resources and Economic Applications (Exercises)
  34. 05: Marketing and Accounting Fundamentals (Keeping Your Nose above Water)
  35. 5.00: Introduction
  36. 5.01: Cost-Revenue-Net Income Analysis (Need to Be in the Know)
  37. 5.02: Break-Even Analysis (Sink or Swim)
  38. 5.03: Marketing and Accounting Fundamentals (Summary)
  39. 5.04: Case Study: Forecasting the Impact of Revenue and Cost Changes
  40. 5.E: Marketing and Accounting Fundamentals (Exercises)
  41. 06: Marketing Applications (What Is It Going to Cost Me)
  42. 6.00: Introduction to Marketing Applications
  43. 6.01: Figuring Out the Cost - Discounts (How Much)
  44. 6.02: Markup- Setting the Regular Price (Need to Stay in Business)
  45. 6.04: Section 4-
  46. 6.05: Section 5-
  47. 6.06: Section 6-
  48. 6.CS: Case Study (Making a Profitable Product Selection)
  49. 6.E: Marketing Applications (Exercises)
  50. 07: Accounting Applications
  51. 7.00: Introduction
  52. 7.01: Sales Taxes
  53. 7.02: Property Taxes
  54. 7.03: Exchange Rates and Currency Exchange
  55. 7.04: Invoicing - Terms of Payment and Cash Discounts
  56. 7.05: Summary
  57. 7.06: Case Study - Completing Summary Financial Reports
  58. 7.E: Accounting Applications (Exercises)
  59. 08: Simple Interest Working With Single Payments and Applications
  60. 8.00: Introduction
  61. 8.01: Principal Rate Time
  62. 8.02: Moving Money Involving Simple Interest
  63. 8.03: Savings Accounts And Short-Term GICs
  64. 8.04: Application - Promissory Notes
  65. 8.05: Application - Loans
  66. 8.06: Application - Treasury Bills and Commercial Papers
  67. 8.07: Summary
  68. 8.08: Case Study - Managing A Company's Investments
  69. 8.E: Simple Interest- Working With Single Payments and Applications (Exercises)
  70. 09: Compound Interest Working With Single Payments
  71. 9.00: Introduction
  72. 9.01: Compound Interest Fundamentals
  73. 9.02: Determining the Future Value
  74. 9.03: Determining the Present Value
  75. 9.04: Equivalent Payments
  76. 9.05: Determining the Interest Rate
  77. 9.06: Equivalent and Effective Interest Rates
  78. 9.07: Determining the Number of Compounds
  79. 9.08: Summary
  80. 9.09: Case Study - Exploring Different Sources Of Compound Financing
  81. 9.E: Compound Interest- Working With Single Payments (Exercises)
  82. 10: Compound Interest Applications Involving Single Payments
  83. 10.00: Introduction
  84. 10.01: Application - Long-Term GICs
  85. 10.02: Application - Long-Term Promissory Notes
  86. 10.03: Application - Savings Bonds
  87. 10.04: Application - Strip Bonds
  88. 10.05: Application - Inflation Purchasing Power and Rates Of Change
  89. 10.06: Summary
  90. 10.07: Case Study - How Much Interest Is Really Earned
  91. 10.E: Compound Interest- Applications Involving Single Payments (Exercises)
  92. 11: Compound Interest Annuities
  93. 11.00: Introduction
  94. 11.01: Fundamentals of Annuities
  95. 11.02: Future Value Of Annuities
  96. 11.03: Present Value Of Annuities
  97. 11.04: Annuity Payment Amounts
  98. 11.05: Number Of Annuity Payments
  99. 11.06: Annuity Interest Rates
  100. 11.07: Summary
  101. 11.08: Case Study - Developing Product Payment Plans
  102. 11.E: Compound Interest- Annuities (Exercises)
  103. 12: Compound Interest Special Applications Of Annuities
  104. 12.00: Introduction
  105. 12.01: Deferred Annuities
  106. 12.02: Constant-Growth Annuities
  107. 12.03: Perpetuities
  108. 12.04: Leases
  109. 12.05: Application - How To Purchase A Vehicle
  110. 12.06: Application - Planning Your RRSP
  111. 12.07: Summary
  112. 12.08: Case Study - Should You Go On Strike
  113. 12.E: Compound Interest- Special Applications Of Annuities (Exercises)
  114. 13: Understanding Amortization and its Applications
  115. 13.00: Introduction
  116. 13.01: Calculating Interest and Principal Components
  117. 13.02: Calculating the Final Payment
  118. 13.03: Amortization Schedules
  119. 13.04: Special Application - Mortgages
  120. 13.05: Summary
  121. 13.06: Case Study - Cash Or Credit
  122. 13.E: Understanding Amortization and its Applications (Exercises)
  123. 14: Bonds and Sinking Funds
  124. 14.00: Introduction
  125. 14.01: Determining the Value of a Bond
  126. 14.02: Calculating a Bonds Yield
  127. 14.03: Sinking Fund Schedules
  128. 14.04: Debt Retirement and Amortization
  129. 14.05: Summary
  130. 14.06: Case Study - Financing An Acquisition Through Bonds
  131. 14.E: Bonds and Sinking Funds (Exercises)
  132. 15: Making Good Decisions
  133. 15.00: Introduction
  134. 15.01: Net Present Value
  135. 15.02: Other Measures For Making Decisions
  136. 15.03: Summary
  137. 15.CS: Case Study - Choosing a New Supplier
  138. 15.E: Making Good Decisions (Exercises)
  139. 16: Appendices
  140. 16.01: Exercise Solutions
  141. 16.02: Bibliography
  142. 16.03: Rounding Rules
  143. 16.04: Formula Sheet
  144. 16.NS: Notation Summary