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Mathematics for Business Careers

by: Jack Cain; Robert A. Carman

Mathematics for Business Careers

by: Jack Cain; Robert A. Carman

ISBN 13:
9780138492588
ISBN 10:
0138492581
Edition: 4th
Format: Paperback
Copyright: 08/01/1997
Publisher: Prentice Hall Professional Technical Reference
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Summary

Learn basic arithmetic as it applies to business skills! accuracy in bank records, selling and buying transactions, interest, loans, and taxes, and more! Follow clear explanations and practice newly learned concepts on your own or with classroom support. Numerous illustrations clarity concepts. Steps for solving problems are highlighted. Processes are carried out in sequence. Cautions serve as an alert to common mistakes. For this new edition, sections on taxes and electronic banking have been revised and updated. Review problems and applications have also been updated to reflect current business practices.

Whole Numbers	p. 1
Writing Whole Numbers	p. 2
Rounding Whole Numbers	p. 5
Adding Whole Numbers	p. 11
Adding	p. 11
How To Add Long Lists of Numbers	p. 15
Checking Addition	p. 17
Subtracting Whole Numbers	p. 23
Subtracting	p. 23
Checking Subtraction	p. 25
Word Problems	p. 26
Multiplying Whole Numbers	p. 31
Multiplying	p. 31
Multiplication Shortcuts	p. 35
Checking Multiplication	p. 36
Dividing Whole Numbers	p. 41
Dividing	p. 41
Checking Division	p. 45
Word Problems	p. 45
Key Terms	p. 51
Self-Test	p. 53
Fractions	p. 55
Renaming Fractions	p. 56
Describing Fractions	p. 56
Changing an Improper Fraction to a Mixed Number	p. 58
Changing a Mixed Number to an Improper Fraction	p. 59
Raising a Fraction to Higher Terms	p. 60
Reducing a Fraction to Lowest Terms	p. 61
Multiplication of Fractions	p. 67
Division of Fractions	p. 75
Dividing Fractions	p. 75
Checking Division	p. 77
Addition and Subtraction of Fractions	p. 83
Adding Like Fractions	p. 83
Adding Mixed Numbers	p. 84
Adding Unlike Fractions	p. 85
Least Common Denominator	p. 86
Adding Mixed Numbers With Unlike Fractions	p. 90
Subtracting Fractions	p. 92
Subtracting Mixed Numbers	p. 93
Using a Calculator with Fractions	p. 95
Key Terms	p. 101
Self-Test	p. 103
Decimal Numbers	p. 105
Adding and Subtracting Decimals	p. 106
Reading Decimal Numbers	p. 106
Adding Decimal Numbers	p. 109
Subtracting Decimal Numbers	p. 110
Multiplying and Dividing Decimals	p. 117
Multiplying Decimal Numbers	p. 117
Dividing Decimal Numbers	p. 118
Rounding	p. 120
Converting Decimal Numbers and Fractions	p. 129
Writing a Fraction as a Decimal Number	p. 129
Converting Mixed Numbers	p. 130
Writing Decimal Numbers as Fractions	p. 131
Key Terms	p. 137
Self-Test	p. 139
Percent	p. 141
Converting To and From Percent	p. 142
Understanding Percent	p. 142
Changing a Decimal Number to a Percent	p. 145
Changing a Fraction to a Percent	p. 146
Changing a Percent to a Decimal	p. 148
Changing a Percent to a Fraction	p. 149
Solving Percent Problems	p. 155
General Guidelines	p. 155
Solving Percent Problems	p. 155
P-Type Problems	p. 157
%-Type Problems	p. 161
Calculating Percent Increase or Decrease	p. 163
B-Type Problems	p. 164
Calculating Sales Tax	p. 167
Determining Excise Tax	p. 168
Key Terms	p. 177
Self-Test	p. 179
Bank Records	p. 181
Setting Up and Using a Checking Account	p. 182
Opening an Account	p. 182
Making a Deposit	p. 183
Writing a Check	p. 184
Completing Check Stubs	p. 186
Using a Check Register	p. 189
Reconciling Checking Accounts	p. 199
Checking Your Reconciliation	p. 203
Key Terms	p. 209
Self-Test	p. 211
Payroll	p. 217
Paying Salaried and Hourly Employees	p. 218
Computing Salary	p. 218
Calculating Hourly Pay	p. 219
Paying Overtime	p. 220
Determining Piecework and Commission Pay	p. 229
Calculating Piecework	p. 229
Computing Differential Piecework	p. 230
Paying Commission	p. 232
Determining Sliding Scale Commissions	p. 233
Calculating Salary Plus Commission	p. 234
Federal Income Tax, FICA, and Federal Unemployment Tax	p. 240
Understanding Federal Income Tax	p. 240
Using the Wage Bracket Method	p. 241
Applying the Percentage Method	p. 245
Computing FICA	p. 249
Calculating Federal Unemployment Tax	p. 252
Key Terms	p. 259
Self-Test	p. 261
The Mathematics of Buying	p. 265
Taking Advantage of Trade Discounts	p. 266
Calculating Discounts	p. 266
Determining Trade Discounts	p. 268
Calculating Chain Discounts	p. 269
Single Equivalent Discount Rate	p. 274
Using Cash Discounts	p. 281
Determining the Due Date	p. 281
Calculating Cash Discounts	p. 282
EOM Dating	p. 284
ROG Dating	p. 286
Extra Dating	p. 286
Crediting Partial Payments	p. 287
Key Terms	p. 295
Self-Test	p. 297
The Mathematics of Selling	p. 301
Calculating Markup Based on Cost	p. 302
Comparing Cost, Markup, and Selling Price	p. 302
Finding the Markup When Cost and Rate Are Known	p. 303
Finding the Rate When Markup and Cost Are Known	p. 304
Finding the Cost When Markup and Rate are Known	p. 305
Finding the Cost When the Selling Price and Rate Are Known	p. 306
Calculating Markup Based on Selling Price	p. 313
Finding the Markup When the Selling Price and Rate Are Known	p. 313
Finding the Rate When the Markup and Selling Price Are Known	p. 314
Finding the Selling Price When the Markup and Rate Are Known	p. 315
Finding the Selling Price When the Cost and Rate Are Known	p. 315
Setting Markdowns	p. 323
Finding Markdown	p. 323
Calculating a Series of Markdowns	p. 324
Determining Markdown Rate	p. 326
Key Terms	p. 331
Self-Test	p. 333
Simple Interest	p. 335
Calculating Time	p. 336
Using Exact Time	p. 337
Finding Exact Time by the Calendar Method	p. 339
Calculating Simple Interest	p. 349
Determining Exact Simple Interest	p. 349
Ordinary Simple Interest at Ordinary or 30-Day-Month Time	p. 354
Calculating Ordinary Simple Interest at Exact Time	p. 355
Recapping Simple Interest	p. 357
Solving for Principal, Interest Rate, and Time	p. 363
Solving for the Interest Variables	p. 363
Solving for Principal	p. 364
Solving for Interest Rate	p. 365
Solving for Time	p. 366
Recapping Simple Interest Problems	p. 369
Key Terms	p. 373
Self-Test	p. 375
Bank Discount Loans	p. 377
Promissory Notes and Bank Discount on Non-Interest-Bearing Notes	p. 378
Calculating Net Proceeds under Bank Discount	p. 379
Determining Bank Discount Using Banker's Interest	p. 382
Bank Discount of an Interest-Bearing Note	p. 387
Using Ordinary Interest to Calculate Discount	p. 387
Using Banker's Interest to Calculate Discount	p. 389
Key Terms	p. 397
Self-Test	p. 399
More Complex Loans	p. 401
Using Installment Loans	p. 402
Determining Finance Charges	p. 402
Calculating the Annual Percentage Rate	p. 403
Working With the Rule of 78	p. 411
Finding the Sum of the Digits	p. 411
Calculating Refunds with the Rule of 78	p. 412
Using Open-End Credit	p. 417
Converting Between APR and Monthly Rates	p. 417
Finding Finance Charges	p. 418
Choosing a Payment Option	p. 420
Calculating Average Daily Balance and New Balance	p. 420
Key Terms	p. 427
Self-Test	p. 429
Compound Interest and Present Value	p. 431
Compound Interest	p. 432
Calculating Compound Interest	p. 432
Finding Maturity Values Using Compound Interest	p. 433
Determining the Effective Rate	p. 436
Calculating Interest Compounded Daily	p. 438
Present Value	p. 445
Finding Present Value	p. 445
Key Terms	p. 453
Self-Test	p. 455
Investments	p. 457
Annuities: Due and Ordinary	p. 458
Calculating the Amount of an Annuity Due	p. 458
Determining the Value of an Ordinary Annuity	p. 461
Sinking Funds	p. 467
Calculating the Payment for a Sinking Fund	p. 467
Stocks and Bonds	p. 473
Understanding Stocks	p. 473
Finding Dividends for Preferred Stock	p. 473
Calculating Dividends for Cumulative Preferred Stock	p. 474
Determining Dividends for Common Stock	p. 475
Calculating Stock Dividends	p. 476
Paying for Stock	p. 476
Understanding Bonds	p. 479
Determining Current Yield	p. 482
Key Terms	p. 487
Self-Test	p. 491
Real Estate Mathematics	p. 493
Mortgage Payments and Points	p. 494
Paying Points	p. 497
Finding Property Tax	p. 498
Amortization	p. 505
Determining Interest and Principal Payments	p. 505
Key Terms	p. 511
Self-Test	p. 513
Inventory and Overhead	p. 515
Inventory Valuation	p. 516
Calculating Inventory Value Using the Specific Identification Method	p. 517
Finding Inventory Value Using the Average Cost Method	p. 519
Determining Inventory Value Using the FIFO Method	p. 520
Identifying Inventory Value Using the LIFO Method	p. 521
Comparing Inventory Methods	p. 523
Retail Method and Overhead	p. 529
Estimating Inventory Value Using the Retail Method	p. 529
Allocating Overhead by Sales Volume	p. 531
Allocating Overhead by Floor Space	p. 533
Key Terms	p. 539
Self-Test	p. 543
Depreciation	p. 545
Straight-Line and Units-of-Production Methods	p. 546
Using the Straight-Line Method to Calculate Depreciation	p. 547
Constructing a Depreciation Schedule	p. 548
Applying the Units-of-Production Method to Depreciation	p. 549
Declining-Balance and Sum-of-the-Years'-Digits Methods	p. 557
Using the Declining-Balance Method of Depreciation	p. 557
Applying the Sum-of-the-Years'-Digits Method of Depreciation	p. 560
The MACRS Method of Depreciation	p. 569
Using the ACRS Method of Depreciation	p. 569
Applying the MACRS Method of Depreciation	p. 569
Key Terms	p. 575
Self-Test	p. 577
Insurance	p. 579
Fire Insurance	p. 580
Calculating Fire Insurance Premiums	p. 580
Determining Short-Term Policy Premiums	p. 582
Canceling Property Insurance	p. 584
Determining Losses Paid by Multiple Insurers	p. 587
Calculating Losses Paid by Coinsurance Policies	p. 588
Motor Vehicle Insurance	p. 597
Determining Driver Classification	p. 597
Calculating Liability Insurance Payouts	p. 598
Determining Liability Premiums on Motor Vehicle Insurance	p. 599
Finding Collision and Comprehensive Payments and Premiums	p. 601
Calculating Medical Payments Premiums	p. 603
Total Motor Vehicle Insurance Premiums	p. 603
Life Insurance	p. 609
Calculating Life Insurance Premiums	p. 610
Determining Surrender Options	p. 611
Selecting a Settlement Option	p. 613
Key Terms	p. 617
Self-Test	p. 621
Financial Statement Analysis	p. 625
Balance Sheets	p. 626
Reading Balance Sheets	p. 626
Performing a Horizontal Analysis	p. 628
Performing a Vertical Analysis	p. 632
Income Statements	p. 645
Reading Income Statements	p. 645
Performing a Horizontal Analysis	p. 647
Performing a Vertical Analysis	p. 651
Financial Ratio Analysis	p. 661
Calculating the Current Ratio	p. 661
Using the Acid-Test Ratio	p. 662
Finding Return on Equity	p. 663
Determining Inventory Turnover	p. 664
Key Terms	p. 671
Self-Test	p. 673
Statistics and Graphs	p. 679
Business Statistics	p. 680
Finding the Mean	p. 680
Finding the Mean for Grouped Data	p. 682
Determining the Median	p. 684
Calculating the Mode	p. 686
Determining the Range	p. 686
Reading Tables of Data	p. 687
Business Graphs	p. 697
Reading Bar Graphs	p. 697
Plotting Bar Graphs	p. 699
Reading Line Graphs	p. 703
Plotting Line Graphs	p. 704
Reading Pie Charts	p. 707
Constructing a Pie Chart	p. 709
Key Terms	p. 723
Self-Test	p. 725
The Electronic Calculator	p. 1
Metric System	p. 1
Answers for Students	p. 1
Index	p. 1
Table of Contents provided by Syndetics. All Rights Reserved.

Amazon no longer offers textbook rentals. We do!

Mathematics for Business Careers

Mathematics for Business Careers

9780138492588

0138492581

Summary

Table of Contents

Supplemental Materials

Write a Review

Amazon no longer offers textbook rentals. We do!

Mathematics for Business Careers

Mathematics for Business Careers

9780138492588

0138492581

Summary

Table of Contents

Supplemental Materials

Write a Review

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