Wiley Pathways Business Math

by Slavin, Steve; Stouffer, Tere

• ISBN13: 9780470007198
• ISBN10: 0470007192
• Edition: 1st
• Format: Paperback
• Copyright: 2006-11-17
• Publisher: WILEY

Summary

The books in this series--Finance, Business Communication, Marketing, Business Math, and Real Estate--offer a coordinated curriculum for learning business. Learn more at www.wiley.com/go/pathways.

Author Biography

Steve Slavin, Ph. D., is professor emeritus of economics at Union County College in Cranford, New Jersey. He is the author of several textbooks and self-teaching guides, including Quick Business Math, Math for Your First- and Second- Grader, All the Math You'll Ever Need, , and Economics.

Table of Contents

Part I: Math Principles
Whole Numbers, Decimals, and Negative Numbers	1	(14)
Introduction	2	(1)
Whole Numbers	2	(1)
Self-Check	3	(1)
Decimals	3	(4)
Adding and Subtracting Decimals	3	(1)
Multiplying Decimals	4	(1)
Dividing Decimals	5	(2)
Self-Check	7	(1)
Negative Numbers	7	(8)
Adding and Subtracting Integers	7	(1)
Multiplying Integers	8	(1)
Dividing Integers	9	(1)
Self-Check	9	(1)
Summary	9	(1)
Key Terms	10	(1)
Summary Questions	11	(1)
Review Questions	11	(1)
Applying This Chapter	11	(3)
You Try It	14	(1)
Fractions	15	(15)
Introduction	16	(1)
Basics of Fractions	16	(2)
Self-Check	17	(1)
Adding and Subtraction of Fractions	18	(2)
Adding Fractions	18	(1)
Subtracting Fractions	19	(1)
Self-Check	19	(1)
Multiplication and Division of Fractions	20	(2)
Multiplying Fractions	20	(1)
Dividing Fractions	21	(1)
Self-Check	21	(1)
Converting Decimals to Fractions	22	(1)
Self-Check	23	(1)
Converting Decimals to Fractions	23	(7)
Self-Check	25	(1)
Summary	25	(1)
Key Terms	25	(1)
Summary Questions	26	(1)
Review Questions	26	(1)
Applying This Chapter	26	(3)
You Try It	29	(1)
Calculating Percentages	30	(17)
Introduction	31	(1)
Writing Decimals and Fractions as Percentages	31	(3)
Changing Decimals to Percentages	31	(1)
Converting Percentages to Decimals	32	(1)
Converting Fractions to Percentages	32	(2)
Self-Check	34	(1)
Finding Percentages, Base, Rates	34	(3)
Finding the Percentage When the Base and Rate Are Known	34	(1)
Finding the Rate When the Base and Percentage Are Known	35	(1)
Finding the Base When the Percentage and Rate Are Known	36	(1)
Self-Check	37	(1)
Percentages Increases and Decreases	37	(2)
Self-Check	39	(1)
Percentage Distribution	39	(8)
Self-Check	41	(1)
Summary	41	(1)
Key Terms	41	(1)
Summary Questions	42	(1)
Review Questions	42	(1)
Applying This Chapter	43	(3)
You Try It	46	(1)
Using Algebraic Equations to Solve Business Problems	47	(19)
Introduction	48	(1)
Isolating X with Basic Math	48	(11)
Isolating X by Adding and Subtracting	48	(4)
Isolating X by Multiplying	52	(2)
Isolating X by Dividing	54	(1)
Isolating X by Combining Addition, Subtraction, Multiplication, and Division	55	(2)
Isolating X When X is a Fraction or Decimal	57	(2)
Self-Check	59	(1)
Story Problems: Setting Up Equations to Solve for X	59	(7)
Self-Check	62	(1)
Summary	62	(1)
Key Terms	62	(1)
Summary Questions	63	(1)
Review Questions	63	(1)
Applying This Chapter	64	(1)
You Try It	65	(1)
Part II: Retailing Applications
Markup, Markdown and Inventory Management	66	(19)
Introduction	67	(1)
Markup	67	(5)
Markup Based on Cost	67	(2)
Markup Based on Selling Price	69	(1)
Markup Based on Cost vs. Markup Based on Selling Price	70	(2)
Self-Check	72	(1)
Markdown	72	(2)
Self-Check	74	(1)
Taking Inventory	74	(11)
Weighted Average Inventory Method of Taking Inventory	75	(1)
FIFO Inventory Method of Taking Inventory	76	(1)
LIFO Inventory Evaluation Method of Taking Inventory	77	(1)
Measuring Inventory Turnover	78	(2)
Self-Check	80	(1)
Summary	81	(1)
Key Terms	81	(1)
Summary Questions	82	(1)
Review Questions	82	(1)
Applying This Chapter	82	(2)
You Try It	84	(1)
Discounts	85	(16)
Introduction	86	(1)
Quantity Discounts (Trade Discounts)	86	(2)
Self-Check	87	(1)
Discounts for Retailers	88	(1)
Self-Check	89	(1)
Chain Discounts	89	(2)
Self-Check	91	(1)
Cash Discounts	91	(10)
Ordinary Dating Method Discount	91	(1)
End-of-Month (EOM)	92	(1)
Receipts of Goods (ROG) Discount	93	(1)
Self-Check	94	(1)
Summary	94	(1)
Key Terms	94	(2)
Summary Questions	96	(1)
Review Questions	96	(1)
Applying This Chapter	97	(3)
You Try It	100	(1)
Part III: General Business Applications
Banking and Insurance	101	(30)
Introduction	102	(1)
Savings Accounts	102	(3)
Passbook Accounts	103	(1)
Certificates of Deposit	104	(1)
Government Bonds and Bills	104	(1)
Self-Check	105	(1)
Checking/Debit Accounts	105	(5)
The Checkbook Register	105	(1)
Deposits and Withdrawals	106	(1)
Reconciling a Register with the Bank Statement	106	(4)
Self-Check	110	(1)
Online Banking	110	(2)
Online Deposits, Transfers, and Bill Paying	110	(1)
Protecting Your Identity	111	(1)
Self-Check	112	(1)
Insurance	112	(19)
Auto Insurance	112	(2)
Homeowner's and Renter's Insurance	114	(3)
Business Insurance	117	(1)
Medical Insurance	118	(2)
Life Insurance	120	(1)
Umbrella Policies	121	(1)
Travel Insurance	121	(1)
Extended Warranties	122	(1)
Self-Check	123	(1)
Summary	123	(1)
Key Terms	123	(4)
Summary Questions	127	(1)
Review Questions	127	(1)
Applying This Chapter	128	(2)
You Try It	130	(1)
Taxes	131	(18)
Introduction	132	(1)
Personal Income Taxes	132	(8)
Form W-4 (Employee's Withholding Allowance Certificate)	132	(2)
Social Security, Medicare, and Withholding Tax	134	(1)
Reading a Pay Stub	134	(1)
W-2s and 1099s	135	(2)
Self Employment (SE) Taxes	137	(1)
Determining Your Gross Pay	138	(2)
Self-Check	140	(1)
Sales Taxes	140	(2)
Self-Check	141	(1)
Property, Excise, and Use Taxes	142	(7)
Self-Check	143	(1)
Summary	143	(1)
Key Terms	144	(1)
Summary Questions	145	(1)
Review Questions	145	(1)
Applying This Chapter	146	(2)
You Try It	148	(1)
Calculating Interest	149	(28)
Introduction	150	(1)
Simple Interest	150	(6)
Solving for the Unknown	150	(2)
Solving for the Principal	152	(1)
Solving for the Rate of Interest	153	(1)
Solving for the Time	154	(1)
Self-Check	155	(1)
Compound Interest	156	(13)
Simple Interest vs. Compound Interest	156	(1)
Compound Interest Tables	157	(11)
Self-Check	168	(1)
Present Value	169	(8)
Self-Check	171	(1)
Summary	171	(1)
Key Terms	171	(2)
Summary Questions	173	(1)
Review Questions	173	(1)
Applying This Chapter	173	(3)
You Try It	176	(1)
Loans and Consumer Credit	177	(16)
Introduction	178	(1)
Notes	178	(2)
Self-Check	179	(1)
Loans	180	(3)
Real Estate Loans (Mortgages)	180	(2)
Personal Property Loans	182	(1)
Early Payoff of Loans	182	(1)
Self-Check	183	(1)
Other Forms of Consumer Loans	183	(10)
The Annual Percentage Rate (APR)	184	(1)
Installment Buying	185	(1)
Credit Cards	186	(2)
Self-Check	188	(1)
Summary	188	(1)
Key Terms	188	(2)
Summary Questions	190	(1)
Review Questions	190	(1)
Applying This Chapter	191	(1)
You Try It	192	(1)
Depreciation	193	(16)
Introduction	194	(1)
Straight-Line Method	194	(2)
Self-Check	195	(1)
Sum-of-Years'-Digits Method	196	(2)
Self-Check	197	(1)
Double Declining-Balance Method	198	(2)
Self-Check	200	(1)
Units-of-Production Method	200	(2)
Self-Check	202	(1)
Modified Accelerated Cost Recovery System (MACRS)	202	(7)
Self-Check	203	(1)
Summary	203	(1)
Key Terms	203	(2)
Summary Questions	205	(1)
Review Questions	205	(1)
Applying This Chapter	205	(2)
You Try It	207	(2)
Financial Statements	209	(35)
Introduction	210	(1)
The Income Statement	210	(15)
How the Income Statement is Set-up	210	(1)
Completing an Income Statement	211	(1)
Negative Net Income	212	(1)
Finding the Percent of Net Sales	213	(1)
The Operating Ratio	214	(4)
Gross Profit Margin Ratio	218	(1)
Profit Margin on Net Sales	219	(1)
Comparative Income Statements	220	(5)
Self-Check	225	(1)
The Balance Sheet	225	(19)
How to Set-up a Balance Sheet	226	(1)
Percent of Total Assets	227	(1)
The Current Ratio	228	(3)
Acid Test Ratio	231	(1)
Comparative Balance Sheets	231	(4)
Self-Check	235	(1)
Summary	236	(1)
Key Terms	236	(2)
Summary Questions	238	(1)
Review Questions	238	(1)
Applying This Chapter	239	(3)
You Try It	242	(2)
Business Statistics	244	(19)
Introduction	245	(1)
Frequency Distribution	245	(1)
Self-Check	246	(1)
Basic Graphing Techniques	246	(5)
Bar Graphs	247	(1)
Line Graphs	247	(2)
Pie Charts	249	(2)
Self-Check	251	(1)
Basic Statistical Measures	251	(12)
The Mean	251	(1)
The Median	252	(1)
The Mode	253	(1)
The Range	254	(1)
Self-Check	254	(1)
Summary	254	(1)
Key Terms	255	(1)
Summary Questions	256	(1)
Review Questions	256	(4)
Applying This Chapter	260	(1)
You Try It	261	(2)
Glossary	263	(12)
Index	275