Outcomes
In order to successfully complete this course, the student will:
1. Solve business problems with a financial calculator and/or spreadsheet.
2. Calculate percentages, percent increases, and percent decreases.
3. Convert numbers interchangeably between decimals, fractions, and percentages.
4. Perform an account reconciliation.
5. Calculate amount due and discounts (cash, trade, and chain), freight, and terms of sale.
6. Calculate cost and selling price after considering markup based on cost, markup based on selling price, and spoilage.
7. Calculate the contribution margin and breakeven point in units and dollars.
8. Calculate gross and net earnings based on a variety of pay schemes.
9. Calculate employee payroll deductions including Social Security, Medicare, and other withholdings.
10. Compute Federal Income Tax withholding by the percentage method and wage bracket tables.
11. Solve for any variable in the simple interest formula using exact and/or ordinary interest.
12. Calculate simple and compound interest, present value, and future value of lump sum amounts and annuities.
13. Apply basic algebraic concepts, terminology, and rules of equations for solving business-related problems.
14. Discuss red-lining and how minorities have been impacted by lending industries.
15. Identify where business math intersects disciplines such as economics, management, accounting, personal finance, entrepreneurship, and banking.