Mathematics for Business

Series
Pearson
Author
Stanley A. Salzman / Gary Clendenen  
Publisher
Pearson
Cover
Softcover
Edition
10
Language
English
Total pages
912
Pub.-date
December 2012
ISBN13
9780132898355
ISBN
0132898357
Related Titles



Description

For courses in business mathematics at the freshman/sophomore levels.

 

Mathematics for Business provides practical, up-to-date coverage of the mathematical techniques students must master to succeed in business today. Covering more algebra than competing books, it looks at a range of topics such as payroll records, inflation and the time value of money, range and standard deviation and index numbers. Examples and problems relate to real world events and personal finance issues so material is relevant to students. This tenth edition is supported by MyMathLab, includes over 150 new problems, uses Apple as a case study illustration, and addresses the global financial crisis and personal debt.

Features

For courses in business mathematics at the freshman/sophomore levels.

 

Mathematics for Business provides practical, up-to-date coverage of the mathematical techniques students must master to succeed in business today. Covering more algebra than competing books, it looks at a range of topics such as payroll records, inflation and the time value of money, range and standard deviation and index numbers. Examples and problems relate to real world events and personal finance issues so material is relevant to students. This tenth edition is supported by MyMathLab, includes over 150 new problems, uses Apple as a case study illustration, and addresses the global financial crisis and personal debt.

 

Features

 

Gives students a comprehensive view of business mathematics and statistics—by covering more challenging topics such as payroll records and quarterly returns, inflation and the time value of money, distribution of profits in a corporation, range and standard deviation, index numbers, traditional IRA's and Roth IRA's.

 

Covers algebra more extensively—than competing books (see Chapter 2).

 

Relates business math to real-world issues in economics and  business—using a holistic, integrated approach.  

 

Relates business math to one's own financial situation—using abundant personal finance examples, exercises, and explanations.

 

Introduces business statistics early—offering extensive practice interpreting and analyzing visual data.

 

Develops students' ability to read and interpret graphs—using innovative Stop and Think chapter openers.

 

Provides a foundation in basic math as well as business math—by including more than 360 exercises checking basic math skills.

 

Provides extensive support for instructors who allow students to use calculators—see scientific calculator boxed features.

 

Uses comprehension aids to help students learn chapter material more rapidly and completely—see Chapter Terms linked to page numbers, Quick Topic Reviews, Business Application Cases, Scientific Calculator Examples, and Cumulative Reviews.  

 

Includes access to the interactive, one-of-a-kind MyMathLab website—a robust, book-specific site loaded with e-learning content.

New to this Edition

This tenth edition offers more extensive coverage of algebra to address the growing trend for more rigor in the course. Over 150 new and revised examples and exercises appear in this edition.

  • New sections on Exponents and Order of Operations appears in Chapter 2.
  • New sections on Graphing Equations Using Line Graphs appears in Chapter 4.  
  • New exercises related to Income Tax Withholding and Personal Income Tax appear in Chapters 6 and 7.
  • More emphasis on the global financial crisis appears in Chapter 11 and throughout the book.
  • A new focus on Apple  Inc. (Chapter 18) offers an up-to-date illustration that appeals to students.
  • Revised Chapter 19: Distribution of Profits, Stocks, and Bonds moves material on distribution of profits and losses in a partnership and distribution of overhead online.  
  • New Appendix D: Calendar and Important Formulas places reference material within reach.
  • Over 150 revised examples and exercises keep your course current.

Table of Contents

Preface

Index of Applications

Introduction for Students

 Pretest in Business Mathematics

 

PART I: BASIC MATHEMATICS

1.    Problem Solving and Operations with Fractions

 1.1  Problem Solving

 1.2  Addition and Subtraction of Fractions

 1.3  Multiplication and Division of Fractions

Chapter 1 Quick Review

Chapter 1 Quick Review Exercises

Business Application Case #1

Business Application Case #2

2.    Equations and Formulas

 2.1  Solving Equations

 2.2  Applications of Equations

 2.3  Formulas

 2.4  Ratios and Proportions

 2.5  Exponents and the Order of Operations

Chapter 2 Quick Review

Chapter 2 Review Exercises

Business Application Case #1

Business Application Case #2

3.    Percent

 3.1 Writing Decimals and Fractions as Percents

 3.2  Applications: Finding the Part

 3.3  Applications: Finding the Base

Supplementary Exercises: Base and Part

 3.4  Applications: Finding the Rate

Supplementary Exercises: Rate, Base, and Part

 3.5  Increase and Decrease Problems

Chapter 3 Quick Review

Chapter 3 Review Exercises

Business Application Case #1

Business Applcation Case #2

4.    Business Statistics

 4.1  Frequency Distributions and Basic Graphs

 4.2  Graphing Equations Using Line Graphs

 4.3  The Mean

 4.4  The Median and the Mode

 4.5  Range and Standard Deviation

 4.6  Index Numbers

Chapter 4 Quick Review

Chapter 4 Review Exercises

Business Application Case #1

Business Application Case #2

 

Part 1 Cumulative Review: Chapters 1-4

 

PART II: BASIC BUSINESS APPLICATIONS

5.    Banking Services

 5.1  Checking Accounts and Check Registers

 5.2  Checking Services and Credit-Card Transactions

 5.3  Reconciliation

Chapter 5 Quick Review

Chapter 5 Review Exercises

Business Application Case #1

Business Application Case #2

6.    Payroll

 6.1  Gross Earnings (Wages and Salaries)

 6.2  Gross Earnings (Commission)

 6.3  Gross Earnings (Piecework)

 6.4  Social Security, Medicare, and Other Taxes

 6.5  Income Tax Withholding

 6.6  Payroll Records and Quarterly Returns

Chapter 6 Quick Review

Chapter 6 Review Exercises

Business Application Case #1

Business Application Case #2

7.    Taxes

 7.1  Sales Tax

 7.2  Property Tax

 7.3  Personal Income Tax

Chapter 7 Quick Review

Chapter 7 Review Exercises

Business Application Case #1

Business Applcation Case #2

8.    Risk Management

 8.1  Business Insurance

 8.2  Motor Vehicle Insurance

 8.3  Life Insurance

Chapter 8 Quick Review

Chapter 8 Review Exercises

Business Application Case #1

Business Applcation Case #2

 

Part 2 Cumulative Review: Chapters 5-8

 

PART III: Mathematics of Retailing

9.    Mathematics of Buying

 9.1  Invoices and Trade Discounts

 9.2  Single Discount Equivalents

 9.3  Cash Discounts: Ordinary Dating Method

 9.4  Cash Discounts: Other Dating Methods

Chapter 9 Quick Review

Chapter 9 Review Exercises

Business Application Case #1

Business Application Case #2

10.  Markup

 10.1  Markup on Cost

 10.2  Markup on Selling Price

 10.3  Markup with Spoilage

 Supplementary Exercises: Markup

 Chapter 10 Quick Review

 Chapter 10 Review Exercises

 Business Application Case #1

 Business Application Case #2

11.  Markdown and Inventory Control

 11.1  Markdown

 11.2  Average Inventory and Inventory Turnover

 11.3  Valuation of Inventory

 Chapter 11 Quick Review

 Chapter 11 Review Exercises

 Business Application Case #1

 Business Application Case #2

 

Part 3 Cumulative Review: Chapters 9-11

 

PART IV: MATHEMATICS OF FINANCE

12.  Simple Interest

 12.1  Basics of Simple Interest

 12.2  Simple Interest for a Given Number of Days

 12.3  Maturity Value

 12.4  Inflation and the Time Value of Money

 Chapter 12 Quick Review

 Chapter 12 Review Exercises

 Business Application Case #1

 Business Application Case #2

13.  Notes and Bank Discount

 13.1  Simple Interest Notes

 13.2  Simple Discount Notes

 13.3  Comparing Simple Interest and Simple Discount

 13.4  Discounting a Note

 Chapter 13 Quick Review

 Chapter 13 Review Exercises

 Business Application Case #1

 Business Application Case #2

14.  Compound Interest

 14.1  Compound Interest

 14.2  Daily and Continuous Compounding

 14.3  Finding Time and Rate

 14.4  Present Value at Compound Interest

 Chapter 14 Quick Review

 Chapter 14 Review Exercises

 Business Application Case #1

 Business Application Case #2

15.  Annuities and Sinking Funds

 15.1  Amount of an Annuity

 15.2  Present Value of an Annuity

 15.3  Sinking Funds

 Chapter 15 Quick Review

 Chapter 15 Review Exercises

 Business Application Case #1

 Business Application Case #2

16.  Business and Consumer Loans

 16.1  Open-End Credit

 16.2  Installment Loans

 16.3  Early Payoffs of Loans

 16.4  Real Estate Loans

 Chapter 16 Quick Review

 Chapter 16 Review Exercises

 Business Application Case #1

 Business Application Case #2

 

Part 4 Cumulative Reviews: Chapters 12-16

 

PART V: ACCOUNTING AND OTHER APPLICATIONS

17.  Depreciation

 17.1  Striaght-Line Method

 17.2  Declining-Balanced Method

 17.3  Sum-of-the-Years'-Digits Method

 17.4  Units-of-Production Method and Partial-Year Depreciation

 17.5  Modified Accelerated Cost Recovery System

 Chapter 17 Quick Review

 Chapter 17 Review Exercises

 Business Application Case #1

 Business Application Case #2

18.  Financial Statements and Ratios

 18.1  The Income Statement

 18.2  Analyzing the Income Statement

 18.3  The Balance Sheet

 18.4  Analyzing the Balance Sheet; Financial Ratios

 Chapter 18 Quick Review

 Chapter 18 Review Exercises

 Business Application Case #1

 Business Application Case #2

19.  Distribution of Profits, Stocks, and Bonds

 19.1  Distribution of Profits in a Corporation

 19.2  Buying Stock

 19.3  Bonds

 19.4  Distribution of Profits and Losses in a Partnership

 19.5  Distribution of Overhead

 Chapter 19 Quick Review

 Chapter 19 Review Exercises

 Business Application Case #1

 Business Application Case #2

 

Part 5 Cumulative Review: Chapters 17-19

 

APPENDIX A: CALCULATOR BASICS

 A.1  Basic Calculators

 A.2  Financial Calculators

APPENDIX B: THE METRIC SYSTEM

APPENDIX C: INTEREST TABLES

APPENDIX D: CALENDAR AND IMPORTANT FORMULAS

 

Answers to Selected Exercises

Glossary

Index


Instructor Resources