Outcomes
In order to successfully complete this course, the student will:
1. Demonstrate solving applied business problems by using a financial calculator and/or by using spreadsheet software
2. Perform percent calculations
3. Convert decimals to fractions and percents: convert fractions and percents to decimals
4. Calculate change
5. Explain checking account charges and perform an account reconciliation
6. Demonstrate the proper method of writing checks, completing deposit slips, check stubs, and registers
7. Discuss how the banking system is evolving to include e-banking and cell phone banking
8. Apply basic algebraic concepts, terminology and rules of equations for solving business related problems
9. Demonstrate the relationship of percent to decimal, decimal to percent, percent to fraction, and fraction to percent
10. Apply the percentage formula to business scenarios:
10a. calculate rate of increase or decrease
10b. calculate single and multiple series discounts
10c. use the net price factor to calculate net price and single discount equivalents
11. Apply markup based on cost pricing by using the retailing equation to determine the cost, markup, and selling price of a product
12. Calculate the selling price when cost and percent markup based on cost are known and solve the equations for missing variables
13. Apply markup based on selling pricing by using the retailing equation to determine percent markup based on selling price, cost and selling price of a product
14. Calculate the selling price when the cost and percent markup based on selling price are known and solve the equation for missing variables
15. Calculate markdowns and additional markups on products
16. Calculate the selling price of perishable goods
17. Calculate gross and net earnings based on a variety of pay schemes
18. Determine employee’s payroll deductions including FICA taxes, Social Security, Medicare, and other withholding
19. Compute Federal Income tax withholding by the percentage method and wage bracket tables
20. Discuss credit scores and how these scores impact a socioeconomic status
21. Discuss red-lining and how minorities have been impacted by lending industries
22. Apply the simple interest formula using exact and/or ordinary interest
23. Solve for missing variables in the simple interest formula
24. Explain the purpose of promissory notes and discuss why they are sometimes discounted and sold
25. Calculate compound interest, present value, and annuities
26. Use correct mathematical terminology
27. Throughout the semester, identify where business math intersects related disciplines such as economics, management, accounting, personal finance, entrepreneurship, and banking
Please contact on-campus instructor for required textbook and course materials
A business/financial calculator is required for this class