Material will be presented within an interactive lecture and seminar format.
- Pertinent mathematical and algebra overview: review ratios, proportions, percent, fractions, exponents, problem-solving logic, introduce logarithms and weighted average.
- Application of linear functions to a variety of business problems, including percent change, payroll and return on investment, discounts, mark-up, mark-down.
- Cost Volume Profit Analysis: linear break-even by quantity, dollar amount, percent of capacity.
- Simple interest: time value of money, equivalent values, promissory notes, T bills, commercial papers demand loans.
- Compound interest: present, future and equivalent values, continuous compounding, interest rate and number of conversion period calculations, equivalent and effective interest rates.
- Annuities: ordinary annuities, simple annuities, annuities due, complex annuities; loan amortization, mortgages, sinking fund perpetuities, present and future values, payment, interest rate and number of conversion period calculations, equivalent effective interest rates.
- Bonds, business investment decisions, including net present value and internal rate of return.
- Basic descriptive statistics, mean, median, mode, range, standard deviation, coefficient of variation, empirical rule.
At the end of the course, the successful student should be able to:
- Demonstrate the mathematical and algebraic skills and use of logic to solve business-related problems;
- solve mathematics of merchandising problems, including cash and trade discounts, mark-up and mark-down;
- demonstrate competence in the solving of financial problems involving the calculation of simple and compound interest in discount, annuities, investment and management decisions;
- solve basic linear problems in two variables and determine break-even positions in business;
- understand and be able to use basic statistics.
|Term Exams (3-4)||50% - 60%|
|Assignments||5% - 15%|
|Participation||0% - 5%|
Textbooks and Materials to be Purchased by Students
- Jerome, Ernest F. Business Mathematics in Canada, latest ed. Toronto: Irwin Publishing.
- The only approved Faculty of Commerce and Business Administration calculator/s that may be used for tests and examinations are any of the following:
Texas Instruments BA II+, Hewlett Packard 10B, and Sharp EL733A.
Pre-Calculus 11 (C or higher) or Foundations of Math 11 (C or higher) or MATU 0410 (C or higher) or an approved substitute.