Business Mathematics

by Miller, Charles D.; Salzman, Stanley A.; Clendenen, Gary

• ISBN13: 9780201750690
• ISBN10: 0201750694
• Edition: 9th
• Format: Paperback
• Copyright: 2003-01-01
• Publisher: Addison Wesley

Summary

The ninth edition of Business Mathematics has been extensively revised to maximize student interest in each chapter of the text. More than ever, real-life examples from today's business world have been incorporated; new examples from actual companies and the people who run them are woven throughout the book to serve as applications of the concepts presented. The globalization of our society is emphasized through examples and exercises that highlight foreign countries and international topics. Providing solid, practical, and up-to-date coverage of business mathematics topics, this text begins with a brief review of basic mathematics and goes on to introduce key business topics, such as bank services, payroll, business discounts and markups, simple and compound interest, stocks and bonds, consumer loans, taxes and insurance, depreciation, financial statements, and business statistics.

Table of Contents

Preface	vii
Introduction for Students	xiv
Pretest in Business Mathematics	xv
Index of Applications	xix
Whole Numbers and Decimals	1	(42)
Whole Numbers	1	(14)
Application Problems	15	(6)
Basics of Decimals	21	(4)
Addition and Subtraction of Decimals	25	(4)
Multiplication and Division of Decimals	29	(14)
`Net Assets: Business on the Internet	36	(1)
Chapter 1 Quick Review	37	(1)
Chapter Terms	37	(3)
Summary Exercise: The Toll of Wedding Bells	40	(1)
Chapter 1 Test	41	(2)
Fractions	43	(38)
Basics of Fractions	44	(7)
`Net Assets: Business on the Internet	48	(3)
Addition and Subtraction of Fractions	51	(8)
Addition and Subtraction of Mixed Numbers	59	(4)
Multiplication and Division of Fractions	63	(8)
Converting Decimals to Fractions and Fractions to Decimals	71	(10)
Chapter 2 Quick Review	75	(1)
Chapter Terms	75	(2)
Summary Exercise: Using Fractions with Statisitcs	77	(2)
Chapter 2 Test	79	(2)
Percent	81	(56)
Writing Decimals and Fractions as Percents	81	(8)
Finding Part	89	(10)
Finding Base	99	(8)
Supplementary Exercises on Base and Part	105	(2)
Finding Rate	107	(10)
Supplementary Exercises on Base, Rate, and Part	113	(4)
Increase and Decrease Problems	117	(20)
`Net Assets: Business on the Internet	122	(5)
Chapter 3 Quick Review	127	(1)
Chapter Terms	127	(2)
Summary Exercise: Investment Gains and Loses	129	(2)
Chapter 3 Test	131	(2)
Cumulative Review: Chapters 1--3	133	(4)
Bank Services	137	(30)
Checking Accounts and Check Registers	137	(12)
'Net Assets: Business on the Internet	144	(5)
Checking Services and Credit-Card Transactions	149	(6)
Reconciliation	155	(12)
Chapter 4 Quick Review	163	(1)
Chapter Terms	163	(1)
Summary Exercise: The Banking Activities of a Retailer	164	(1)
Chapter 4 Test	165	(2)
Payroll	167	(48)
Gross Earnings: Wages and Salaries	167	(14)
Gross Earnings: Piecework and Commissions	181	(8)
Social Security, Medicare, and Other Taxes	189	(6)
Income Tax Withholding	195	(20)
`Net Assets: Business on the Internet	204	(5)
Chapter 5 Quick Review	209	(1)
Chapter Terms	209	(3)
Summary Exercise: Payroll: Finding Your Take-Home Pay	212	(1)
Chapter 5 Test	213	(2)
Mathematics of Buying	215	(38)
Invoices and Trade Discounts	215	(12)
Single Discount Equivalents	227	(4)
Cash Discounts: Ordinary Dating Method	231	(8)
`Net Assets: Business on the Internet	236	(3)
Cash Discounts: Other Dating Methods	239	(14)
Chapter 6 Quick Review	247	(1)
Chapter Terms	247	(3)
Summary Exercise: The Retailer: Invoices, Trade Discounts, and Cash Discounts	250	(1)
Chapter 6 Test	251	(2)
Mathematics of Selling	253	(50)
Markup on Cost	253	(10)
Markup on Selling Price	263	(14)
Supplementary Exercises on Markup	275	(2)
Markdown	277	(6)
Turnover and Valuation of Inventory	283	(20)
Chapter 7 Quick Review	293	(1)
Chapter Terms	293	(4)
Summary Exercise: Markdown: Reducing Prices to Move Merchandise	297	(1)
`Net Assets: Business on the Internet	298	(1)
Chapter 7 Test	299	(2)
Cumulative Review: Chapters 4--7	301	(2)
Simple Interest	303	(52)
Basics of Simple Interest	304	(11)
Finding Principal, Rate, and Time	315	(8)
Simple Discount Notes	323	(10)
Discounting a Note Before Maturity	333	(22)
`Net Assets: Business on the Internet	338	(5)
Supplementary Exercises on Simple Interest Simple Discount	343	(4)
Chapter 8 Quick Review	347	(1)
Chapter Terms	347	(5)
Summary Exercise: Banking in a Global World: How Do Large Banks Make Money?	352	(1)
Chapter 8 Test	353	(2)
Compound Interest	355	(34)
Compound Interest	356	(11)
Interest Bearing Bank Accounts and Inflation	367	(12)
`Net Assets: Business on the Internet	378	(1)
Present Value	379	(10)
Chapter 9 Quick Review	385	(1)
Chapter Terms	385	(1)
Summary Exercise: Valuing a Chain of McDonald's Restaurants	386	(1)
Chapter 9 Test	387	(2)
Annuities, Stocks, and Bonds	389	(56)
Annuities and Retirement Accounts	389	(10)
Present Value of an Ordinary Annuity	399	(8)
Sinking Funds (Finding Annuity Payments)	407	(10)
Supplementary Exercises on Annuities and Sinking Funds	415	(2)
Stocks	417	(12)
`Net Assets: Business on the Internet	428	(1)
Bonds	429	(16)
Chapter 10 Quick Review	435	(1)
Chapter Terms	435	(3)
Summary Exercise: Planning for Retirement	438	(1)
Chapter 10 Test	439	(2)
Cumulative Review: Chapters 8--10	441	(4)
Business and Consumer Loans	445	(54)
Open-End Credit and Charge Cards	446	(11)
Installment Loans	457	(10)
Early Payoffs of Loans	467	(8)
Personal Property Loans	475	(8)
Real Estate Loans	483	(16)
Chapter 11 Quick Review	489	(1)
Chapter Terms	489	(5)
Summary Exercise: Consolidating Loans	494	(2)
`Net Assets: Business on the Internet	496	(1)
Chapter 11 Test	497	(2)
Taxes and Insurance	499	(52)
Property Tax	500	(7)
Personal Income Tax	507	(14)
Fire Insurance	521	(8)
Motor-Vehicle Insurance	529	(8)
Life Insurance	537	(14)
`Net Assets: Business on the Internet	542	(3)
Chapter 12 Quick Review	545	(1)
Chapter Terms	545	(3)
Summary Exercise: Financial Planning for Taxes and Insurance	548	(1)
Chapter 12 Test	549	(2)
Depreciation	551	(46)
Depreciation: Straight-Line Method	552	(9)
Depreciation: Declining-Balance Method	561	(6)
Depreciation: Sum-of-the-Years'-Digits Method	567	(10)
Supplementary Application Exercises on Depreciation	573	(4)
Depreciation: Units-of-Production Method	577	(6)
`Net Assets: Business on the Internet	580	(3)
Depreciation: Modified Accelerated Cost Recovery System	583	(14)
Chapter 13 Quick Review	591	(1)
Chapter Terms	591	(2)
Summary Exercise: Comparing Depreciation Methods: A Business Application	593	(2)
Chapter 13 Test	595	(2)
Financial Statements and Ratios	597	(34)
The Income Statement	597	(6)
Analyzing the Income Statement	603	(8)
The Balance Sheet	611	(4)
Analyzing the Balance Sheet	615	(16)
Chapter 14 Quick Review	623	(1)
Chapter Terms	623	(3)
Summary Exercise: Owning Your Own Business	626	(2)
`Net Assets: Business on the Internet	628	(1)
Chapter 14 Test	629	(2)
Business Statistics	631
Frequency Distributions and Graphs	631	(12)
Mean, Median, and Mode	643
Chapter 15 Quick Review	653	(1)
Chapter Terms	653	(2)
Summary Exercise: Watching the Growth of a Small Business	655	(1)
`Net Assets: Business on the Internet	656	(1)
Chapter 15 Test	657
APPENDIX A Equations and Formula Review	1	(1)
A.1 Equations	1	(6)
A.2 Business Applications of Equations	7	(4)
A.3 Business Formulas	11	(4)
A.4 Ratio and Proportion	15
APPENDIX B Basic Calculators	1	(1)
APPENDIX C Financial Calculators	1	(1)
Answers to Selected Exercises	1	(1)
Glossary	1	(1)
Index	1