Business Mathematics

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

• ISBN13: 9780321045034
• ISBN10: 0321045033
• Edition: 8th
• Format: Paperback
• Copyright: 1999-08-01
• Publisher: Pearson College Div

Summary

The focus of this revision is to continue to emphasize the real-life connection between math and business. The authors focus on many real company examples to help students see relevancy of the material being studied as well as how people use math at work. Several new features have been added to show this relevancy, including strong integration with the Internet, the Financial and Estate Planning Foldout, 'Net Assets, Investigative Questions, and Reality Check.

Table of Contents

PREFACE	vii	(7)
INTRODUCTION FOR STUDENTS	xiv	(1)
PRETEST IN BUSINESS MATHEMATICS	xv
CHAPTER 1 WHOLE NUMBERS AND DECIMALS	1	(42)
1.1 Whole Numbers	1	(14)
1.2 Application Problems	15	(6)
1.3 Basics of Decimals	21	(4)
1.4 Addition and Subtraction of Decimals	25	(4)
1.5 Multiplication and Division of Decimals	29	(7)
Net Assets: Business on the Internet	36	(1)
Chapter 1 Quick Review	37	(3)
Chapter Terms	37	(3)
Summary Exercise: The Cost of Wedding Bells	40	(1)
Chapter 1 Test	41	(2)
CHAPTER 2 FRACTIONS	43	(40)
2.1 Basics of Fractions	44	(7)
2.2 Addition and Subtraction of Fractions	51	(8)
2.3 Addition and Subtraction of Mixed Numbers	59	(4)
2.4 Multiplication and Division of Fractions	63	(10)
Net Assets: Business on the Internet	72	(1)
2.5 Converting Decimals to Fractions and Fractions to Decimals	73	(4)
Chapter 2 Quick Review	77	(2)
Chapter Terms	77	(2)
Summary Exercise: Fractions in Your Financial Future	79	(2)
Chapter 2 Test	81	(2)
CHAPTER 3 PERCENT	83	(54)
3.1 Writing Decimals and Fractions as Percents	83	(8)
3.2 Finding Part	91	(10)
3.3 Finding Base	101	(6)
Supplementary Exercises on Base and Part	105	(2)
3.4 Finding Rate	107	(10)
Supplementary Exercises on Base, Rate, and Part	113	(4)
3.5 Increase and Decrease Problems	117	(10)
Chapter 3 Quick Review	127	(2)
Chapter Terms	127	(2)
Summary Exercise: Mathematics for the Collector	129	(1)
'Net Assets: Business on the Internet	130	(1)
Chapter 3 Test	131	(2)
Cumulative Review: Chapter 1-3	133	(4)
CHAPTER 4 BANK SERVICES	137	(32)
4.1 Checking Accounts and Check Registers	137	(12)
4.2 Checking Services and Credit-Card Transactions	149	(6)
4.3 Reconciliation	155	(5)
'Net Assets: Business on the Internet	160	(5)
Chapter 4 Quick Review	165	(1)
Chapter Terms	165	(1)
Summary Exercise: The Banking Activities of a Retailer	166	(1)
Chapter 4 Test	167	(2)
CHAPTER 5 PAYROLL	169	(46)
5.1 Gross Earnings: Wages and Salaries	169	(14)
5.2 Gross Earnings: Piecework and Commissions	183	(8)
'Net Assets: Business on the Internet	188	(3)
5.3 Social Security, Medicare, and Other Taxes	191	(6)
5.4 Income Tax Withholding	197	(12)
Chapter 5 Quick Review	209	(3)
Chapter Terms	209	(3)
Summary Exercise: Payroll: Finding Your Take-Home Pay	212	(1)
Chapter 5 Test	213	(2)
CHAPTER 6 MATHEMATICS OF BUYING	215	(40)
6.1 Invoices and Trade Discounts	215	(12)
6.2 Single Discount Equivalents	227	(4)
6.3 Cash Discounts: Ordinary Dating Method	231	(8)
6.4 Cash Discounts: Other Dating Methods	239	(5)
'Net Assets: Business on the Internet	244	(5)
Chapter 6 Quick Review	249	(3)
Chapter Terms	249	(3)
Summary Exercise: The Retailer: Invoices, Trade Discounts, and Cash Discounts	252	(1)
Chapter 6 Test	253	(2)
CHAPTER 7 MATHEMATICS OF SELLING	255	(46)
7.1 Markup on Cost	255	(10)
7.2 Markup on Selling Price	265	(10)
7.3 Markdown	275	(6)
7.4 Turnover and Valuation of Inventory	281	(10)
Chapter 7 Quick Review	291	(4)
Chapter Terms	291	(4)
Summary Exercise: Markdown: Reducing Prices to Move Merchandise	295	(1)
'Net Assets: Business on the Internet	296	(1)
Chapter 7 Test	297	(2)
Cumulative Review: Chapters 4-7	299	(2)
CHAPTER 8 SIMPLE INTEREST	301	(50)
8.1 Basics of Simple Interest	302	(11)
8.2 Finding Principal, Rate, and Time	313	(8)
8.3 Simple Discount Notes	321	(10)
8.4 Discounting a Note Before Maturity	331	(8)
Supplementary Exercises on Simple Interest and Simple Discount	339	(4)
Chapter 8 Quick Review	343	(4)
Chapter Terms	343	(4)
Summary Exercise: Banking in a Global World	347	(1)
'Net Assets: Business on the Internet	348	(1)
Chapter 8 Test	349	(2)
CHAPTER 9 COMPOUND INTEREST	351	(32)
9.1 Compound Interest	351	(10)
9.2 Savings Accounts and Inflation	361	(10)
9.3 Present Value	371	(7)
'Net Assets: Business on the Internet	378	(1)
Chapter 9 Quick Review	379	(1)
Chapter Terms	379	(1)
Summary Exercise: Valuing a Chain of McDonald's Restaurants	380	(1)
Chapter 9 Test	381	(2)
CHAPTER 10 ANNUITIES, STOCKS, AND BONDS	383	(48)
10.1 Annuities	383	(8)
10.2 Present Value of an Annuity	391	(6)
10.3 Sinking Funds (Finding Annuity Payments)	397	(8)
10.4 Stocks	405	(10)
'Net Assets: Business on the Internet	414	(1)
10.5 Bonds	415	(6)
Chapter 10 Quick Review	421	(3)
Chapter Terms	421	(3)
Summary Exercise: Planning for Retirement	424	(1)
Chapter 10 Test	425	(2)
Cumulative Review: Chapters 8-10	427	(4)
CHAPTER 11 BUSINESS AND CONSUMER LOANS	431	(56)
11.1 Open-End Credit and Charge Cards	432	(11)
11.2 Installment Loans	443	(10)
11.3 Early Payoffs of Loans	453	(8)
11.4 Personal Property Loans	461	(8)
11.5 Real Estate Loans	469	(8)
Chapter 11 Quick Review	477	(5)
Chapter Terms	477	(5)
Summary Exercise: Consolidating Loans	482	(2)
'Net Assets: Business on the Internet	484	(1)
Chapter 11 Test	485	(2)
CHAPTER 12 TAXES AND INSURANCE	487	(48)
12.1 Property Tax	487	(6)
12.2 Personal Income Tax	493	(12)
12.3 Fire Insurance	505	(8)
12.4 Motor-Vehicle Insurance	513	(8)
12.5 Life Insurance	521	(5)
'Net Assets: Business on the Internet	526	(3)
Chapter 12 Quick Review	529	(3)
Chapter Terms	529	(3)
Summary Exercise: Financial Planning for Taxes and Insurance	532	(1)
Chapter 12 Test	533	(2)
CHAPTER 13 DEPRECIATION	535	(46)
13.1 Depreciation: Straight-Line Method	536	(9)
13.2 Depreciation: Declining-Balance Method	545	(6)
13.3 Depreciation: Sum-of-the-Years'-Digits Method	551	(10)
Supplementary Application Exercises on Depreciation	557	(4)
13.4 Depreciation: Units-of-Production Method	561	(6)
13.5 Depreciation: Modified Accelerated Cost Recovery System	567	(8)
Chapter 13 Quick Review	575	(2)
Chapter Terms	575	(2)
Summary Exercise: Comparing Depreciation Methods	577	(1)
'Net Assets: Business on the Internet	578	(1)
Chapter 13 Test	579	(2)
CHAPTER 14 FINCANCIAL STATEMENTS AND RATIOS	581	(36)
14.1 The Income Statement	581	(8)
14.2 Analyzing the Income Statement	589	(8)
14.3 The Balance Sheet	597	(4)
14.4 Analyzing the Balance Sheet	601	(8)
Chapter 14 Quick Review	609	(3)
Chapter Terms	609	(3)
Summary Exercise: Owning Your Own Small Business	612	(2)
'Net Assets: Business on the Internet	614	(1)
Chapter 14 Test	615	(2)
CHAPTER 15 BUSINESS STATISTICS	617
15.1 Frequency Distributions and Graphs	617	(12)
15.2 Mean, Median, and Mode	629	(10)
Chapter 15 Quick Review	639	(2)
Chapter Terms	639	(2)
Summary Exercise: Watching the Growth of a Small Business	641	(1)
'Net Assets: Business on the Internet	642	(1)
Chapter 15 Test	643
APPENDIX A EQUATIONS AND FORMULA REVIEW	A-1
A.1 Equations	A-1	(4)
A.2 Business Applications of Equations	A-5	(4)
A.3 Business Formulas	A-9	(3)
A.4 Ratio and Proportion	A-12
APPENDIX B SCIENTIFIC CALCULATORS	B-1
APPENDIX C FINANCIAL CALCULATORS	C-1
ANSWERS TO SELECTED EXERCISES	AN-1
GLOSSARY	G-1
INDEX OF APPLICATIONS	IA-1
INDEX	I-1