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Introduction to Business Math and Personal Finance

Author(s): LaVerta Schmeling

Edition: 3

Copyright: 2021

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Details: Print Prod w/KHQ | 180 days |

Introduction to Business Math & Personal Finance gives students a brief look into the world of buying and selling merchandise for a business including trade and cash discount, and markup and markdown. It also provides some basic tools for calculating payroll deductions and other required employer payments including FICA and unemployment taxes.

The book also covers important personal finance information on topics such as simple and compound interest for loans and deposits, as well as installment payments and retirement accounts.

Students learn to use scientific calculators with complex formulas instead of looking up information on tables. It is a true mathematics book using algebraic concepts.

I Algebra Review
Chapter 1 Fractions and Decimals

Section 1.1 Converting Fractions to Decimals
Section 1.2 Rounding 4
a. Round Decimals to the Nearest Hundredth
b. Round Money to the Nearest Cent and Nearest Dollar

Chapter 2 Order of Operations
Section 2.1 Apply the Order of Operations by Hand
Section 2.2 Apply the Order of Operations with a Scientific Calculator

Chapter 3 Solving Linear Equations and Word Problems
Section 3.1 Solving Linear Equations and Proportions
a. Solving Linear Equations That Contain Parentheses and Like Terms
b. Solving Linear Equations That Have the Unknown on Both Sides of the Equals Sign
c. Solving Proportions
Section 3.2 Solving Word Problems
a. Solving Word Problems Involving Quantities
b. Solving Word Problems Involving Dollar Amounts

Chapter 4 Formulas
Section 4.1 Use Formulas
Section 4.2 Rearrange Formulas

Chapter 5 Percents
Section 5.1 Interpretation of Percents
Section 5.2 Percent Conversions
a. Convert Percents to Decimals
b. Converting Decimals to Percents
c. Converting Fractions to Percents
Section 5.3 Basic Percent Problems
Section 5.4 Percent Increase or Decrease
Section 5.5 Compounding of Percents

Chapter 6 Basic Statistics
Section 6.1 Find Mean, Median, Mode, and Range
a. Measures of Central Tendency
b. Range
Section 6.2 Frequency Distribution Tables

II Business
Chapter 7 Buying Merchandise

Section 7.1 Trade Discounts
Section 7.2 Cash Discounts
Section 7.3 Partial Payments

Chapter 8 Selling Merchandise
Section 8.1 Markup Formula
a. Markup Based on Cost or Markup Based on Selling Price
Section 8.2 Markdown
a. Use a Single Markdown
b. Use a Series of Markdowns
c. Find the Selling Price for Perishable or Seasonal Goods

Chapter 9 Preparing Payroll
Section 9.1 Gross Pay and Net Pay
a. Find Gross Pay Based on Salary, Hourly Wage, or Commission
b. Find FICA Deductions
c. Use the Percentage Method to Find the Federal Withholding Tax Deduction
d. Find Net Pay 
Section 9.2 Find Employer Payroll Taxes
a. Find Employer FICA Payments
b. Find Employer Federal Unemployment Tax Payments

III Personal Finance
Chapter 10 Simple Interest

Section 10.1 Simple Interest Formula and Maturity Value
a. Find the Time Fraction, T, in the Simple Interest Formula
b. Use the Simple Interest Formula to Find Interest, Principal, Rate, or Time
c. Find Maturity Value and Maturity Date
Section 10.2 Partial Payments
a. Find the Amount Credited for a Partial Payment and the Outstanding Balance

Chapter 11 Compound Interest
Section 11.1 Use the Future Value of a Single Deposit Formula
Section 11.2 Use the Present Value of a Single Deposit Formula
Section 11.3 Use the Future Value of an Annuity Formula
Section 11.4 Use the Present Value of an Annuity Formula

Chapter 12 Installment Payments
Section 12.1 Installment Payment Formula
a. Use the Installment Payment Formula to Find the Monthly Payment on a Loan or Purchase 
b. Use the Installment Payment Formula to Find the PI Portion of a Mortgage Payment
c. Find the Taxes and Insurance Portion of a Mortgage Payment and the Total Principal, Interest, Tax, and Insurance Mortgage Payment
Section 12.2 Payments from Accounts
a. Find the Monthly Withdrawal to Maintain a Static Balance
b. Find the Monthly Withdrawal to Maintain an Increasing Balance
c. Find the Monthly Withdrawal to Deplete the Balance

Appendices 
2019 Withholding Allowance Table
2019 Percentage Method Tables for Income Tax Withholding
Table of Days
Simple and Compound Interest Formulas

LaVerta Schmeling

Related ISBN's: 9781792468421, 9781792483967

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ISBN 9781792468421

Details Print Prod w/KHQ 180 days