Contemporary Business Mathematics for Colleges

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ISBN: 9780538868822 | 0538868821
Cover: Paperback
Copyright: 8/11/1998

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This proven 12th Edition text, presents an arithmetic-based, basic approach to business math. It emphasizes a practical, skill-building approach to prepare students for future careers in business through step-by-step development of concepts, numerous practice exercises throughout, and a focus on real-world application of techniques. The text advances from most basic to more complex business math topics. A brief version is also available.

Part 1: Fundamental Review

(58)

1 Fundamental Processes

(26)

Adding

(3)

Number Combinations

(1)

Repeated Digits

(1)

Adding from Left to Right

(1)

Checking Addition

(1)

Horizontal Addition

(1)

Subtracting

(1)

Checking Subtraction

(1)

Horizontal Subtraction

(1)

Subtraction by Changing Numbers

(1)

Multiplying

(3)

Checking Multiplication

(1)

Multiplying Numbers Ending in Zero

(1)

Multiplying When the Multiplier Contains Zero Not on the End

(1)

Multiplying the Product of Two Factors

(1)

Multiplying by 25

(1)

Multiplying by 50

(1)

Division

(2)

Checking Division

(1)

Dividing by 10

(1)

Dividing by 100

(1)

Dividing When Divisor and Dividend End with Zeros

(1)

Estimating

(17)

Estimating When Multiplying

(1)

Estimating When Dividing

(16)

2 Word Problems and Equations

(16)

Mental Computations

(1)

Solving Word Problems

(2)

Solving Rate, Time, and Distance Problems

(2)

Solving Simple Numeric Equations

(1)

Numerical Relationships in a Series

(1)

Making Quick Calculations by Rounding Numbers

(10)

3 Weights and Measurements

(16)

Converting Weights and Measurements

(2)

Performing Mathematical Operations Using Standard U.S. Weights and Measurements

(3)

Adding Weights and Measurements

(1)

Subtracting Weights and Measurements

(1)

Multiplication of Weights and Measurements

(1)

Division of Weights and Measurements

(1)

Business Applications

(11)

Part 2 Decimals and Fractions

(60)

4 Decimals: Addition and Subtraction

(14)

Fractions versus Decimals

(1)

Decimals and Electronic Displays

(1)

Reading Decimal Numbers

(1)

Reading Large Decimal Numbers Orally

(1)

Adding Decimal Numbers

(1)

Subtracting Decimal Numbers

(1)

Rounding Decimal Numbers

(1)

Rounding Up

(10)

5 Decimals: Multiplication and Division

(16)

Multiplying Decimal Numbers

(1)

Dividing a Decimal by a Whole Number

(1)

Dividing a Decimal by Another Decimal Number

(1)

Multiplying and Dividing by 10, 100, 1,000,etc.

(1)

Approximating the Product and Quotient

(2)

Changing Fractions into Decimals

(10)

6 Fractions: Addition and Subtraction

(16)

Changing an Improper Fraction to a Mixed Number

(1)

Changing a Mixed Number to an Improper Fraction

(1)

Reducing Fractions to Lowest Terms

(1)

Raising Fractions to Higher Terms

(1)

Fractions on the New York Stock Exchange

(1)

Adding Fractions or Mixed Numbers

(2)

Subtracting Fractions or Mixed Numbers

(10)

7 Fractions: Multiplication and Division

106

(14)

Multiplying Fractions

106

(1)

Canceling Common Factors

106

(1)

Multiplying a Whole Number and a Fraction

107

(1)

Multiplying Mixed Numbers

108

(2)

Spoken Language and Multiplication of Fractions

109

(1)

Dividing with Fractions

110

(10)

Part 3 Accounting Applications

120

(70)

8 Banking

120

(19)

Using Deposit Slips and Bank Checks

120

(2)

Maintaining Checkbooks and Check Registers

122

(1)

Reconciling Bank Statements

123

(16)

9 Payroll Records

139

(21)

Preparing a Payroll Register

139

(1)

Computing Federal Income Tax Withholding Amounts

139

(6)

Computing Social Security, Medicare, and Other Withholdings

145

(1)

Completing an Employee's Earnings Record

146

(1)

Computing an Employer's Quarterly Federal Tax Return

147

(1)

Computing an Employer's Federal and State Unemployment Tax Liability

148

(12)

10 Federal Income Taxes

160

(16)

Computing Taxable Income Using Standard Form 1940

160

(4)

Computation of Taxable Income

164

(1)

Computing Taxes Due Using Standard Form 1040

164

(2)

Computing Taxes for Businesses

166

(10)

11 Sales and Property Taxes

176

(14)

Computing Sales Taxes

176

(1)

Sales Tax as a Percent of Price

176

(1)

Sales Tax as an Amount per Unit

177

(1)

Computing Assessed Valuations and Property Taxes

177

(1)

Computing Tax Rates in Percents and Mills

178

(1)

Percents

178

(1)

Mills

179

(1)

Computing Special Assessments, Prorations, and Exemptions

179

(11)

Part 4 Percentage

190

(66)

12 Percents in Business

190

(20)

Changing Fractions and Decimals to Percents

190

(1)

Changing Percents to Decimals

191

(1)

Finding Base, Rate, and Percentage

192

(2)

Using Percents in Business

193

(1)

Using Percents to Measure Increase and Decrease

194

(1)

Using Percents to Allocate Overhead Expenses

195

(15)

13 Commissions

210

(14)

Calculating Sales Commissions and Gross Pay

210

(1)

Calculating Graduated Sales Commissions

211

(1)

Calculating Sales and Purchases for Principals

212

(12)

14 Discounts

224

(6)

Calculating Single Trade Discounts

224

(1)

Calculating a Series of Trade Discounts

225

(1)

Complement Method Shortcut

226

(1)

Calculating the Equivalent Single Discount Rate

226

(1)

Calculating Cash Discounts for Fully Paid Invoices

227

(3)

Returned Merchandise and Freight Charges

229

(1)

Calculating Cash Discounts for Partially Paid Invoices

230

(1)

15 Markup

230

(26)

Computing Markup Variables

230

(11)

Computing Markup Based on Cost

241

(1)

Computing Selling Price Directly from Cost

241

(1)

Computing Cost from Selling Price

242

(1)

Computing Markup Percent Based on Cost

242

(1)

Computing Markup Based on Selling Price

243

(2)

Computing Cost Directly

244

(1)

Computing Selling Price from Cost

244

(1)

Computing Markup Percent Based on Selling Price

245

(11)

Part 5 Credit and Interest

256

(72)

16 Simple Interest

256

(16)

Computing Simple Interest

256

(1)

Computing Ordinary Interest

257

(1)

Computing Exact Interest

258

(1)

Comparing Ordinary Interest and Exact Interest

258

(1)

Use of Calculators

259

(1)

Estimating Simple Interest

259

(13)

Combinations of Time and Interest That Yield 1%

259

(1)

Other Rates and Times

260

(1)

Estimation of Exact Interest

260

(12)

17 Notes and Interest Variables

272

(16)

Calculating the Number of Interest Days of a Note

272

(1)

Determining the Due Date of a Note

273

(1)

Computing the Maturity Value of a Note

274

(1)

Computing the Interest Variables

275

(1)

Finding the Interest Amount, Principal, Rate, or Time

275

(13)

18 Borrowing by Business

288

(18)

Borrowing Money to Take a Cash Discount

288

(1)

Computing Interest with the Unpaid-Balance Method

289

(2)

Analyzing Bank Discounts

291

(2)

Discount Rate versus Interest Rate

292

(1)

Discounting Non-Interest-Bearing Notes

293

(1)

Discounting Interest-Bearing Notes

294

(12)

19 Charges for Credit

306

(22)

Converting Interest Rates

306

(1)

Computing Simple Interest on a Monthly Basis

306

(1)

Computing Finance Charges

307

(1)

Computing Costs of installment Purchases

308

(2)

Computing Effective Rates

310

(3)

Increasing the Effective Rate

310

(1)

An Alternative Formula for Estimating the Effective Rate

311

(2)

Amortizing a Loan

313

(15)

Computing the Monthly Payment

313

(1)

Loan Payment Schedule

314

(14)

Part 6 Basic Business Applications

328

(78)

20 Business and Personal Insurance

328

(20)

Computing Auto Insurance Costs

328

(1)

Computing Low-Risk and High-Risk Rates

329

(1)

Computing Short Rates

330

(1)

Computing Coinsurance on Property Losses

331

(1)

Computing Life Insurance Premiums

332

(2)

Computing Cash Surrender and Loan Values

334

(1)

Computing Medical Insurance Contributions and Reimbursements

335

(13)

21 Business Inventory and Turnover

348

(18)

Accounting for Inventory

348

(1)

Inventory Sheets

348

(1)

Perpetual Inventory Systems

349

(1)

Computing Inventory Using the Average Cost, FIFO, and LIFO Methods

349

(2)

The Average Cost Method

349

(1)

The FIFO Method

350

(1)

The LIFO Method

350

(1)

Computing Inventory at the Lower of Cost or Market Value

351

(1)

Estimating Inventory Value

352

(1)

Computing Inventory Turnover

353

(13)

22 Business Depreciation

366

(18)

Computing Depreciation with the Straight-Line Method

366

(2)

Book Value

367

(1)

Computing Depreciation with the Declining-Balance Method

368

(1)

Computing Depreciation with the Sum-of-the-Years-Digits Method

369

(1)

Computing Depreciation with the Modified Accelerated Cost Recovery System

370

(1)

Computing Partial-Year Depreciation

371

(13)

23 Business Financial Statements

384

(22)

Analyzing Balance Sheets

384

(2)

Analyzing Income Statements

386

(2)

Computing Business Operating Ratios

388

(18)

Working Capital Ratio

389

(1)

Acid Test Ratio

389

(1)

Ratio of Accounts Receivable to Net Sales

389

(1)

Inventory Turnover Rate

390

(1)

Relationship of Net Income Sales to Net Sales

390

(1)

Rate of Return on Investment

390

(16)

Part 7 Corporate Finance

406

(52)

24 Corporate Stocks

406

(20)

Computing the Costs and Proceeds of Stock Transactions

406

(2)

Computing the Costs and Proceeds of Round and Odd Lots

408

(1)

Computing the Rate of Yield and Gains or Losses

409

(2)

The Rate of Yield

409

(1)

Gain or Loss on Sale of Stock

410

(1)

Computing Comparative Earning Potential

411

(15)

25 Corporate and Government Bonds

426

(14)

Computing Gains and Losses on Corporate Bonds

426

(1)

Computing Annual Interest on Corporate and Government Bonds

427

(2)

Newspaper Information on Bonds

427

(1)

Commissions for Buying and Selling Bonds

428

(1)

Computing Accrued Interest on Bond Transactions

429

(1)

Computing the Rate of Yield for Bonds

429

(1)

Calculating a Rate of Yield to Maturity

430

(10)

26 International Business

440

(18)

Computing Currency Exchange Rates

440

(3)

Computing the Effects of Exchange Rate Changes

443

(1)

Computing Duties on Imports

444

(2)

Converting between U.S. Weights and Measurements and Metric Measurements

446

(12)

Part 8 Advanced Applications

458

(124)

27 Compound Interest and Present Value

458

(24)

Computing Future Values and Compound Interest

458

(3)

Future Value Formula

459

(1)

Various Compounding Periods

459

(2)

Computing Present Values from Future Value Tables

461

(2)

Computing Present Values and Compound Interest from Present Value Tables

463

(19)

Present Value Formula

463

(1)

Notes about the Future Value and Present Value Tables

464

(18)

28 Annuities

482

(26)

Computing the Future Value of an Annuity

482

(3)

Annuity Tables

483

(1)

Finding Annuity Amounts for Periods Other than 1 Year

484

(1)

Computing Regular Payments of an Annuity from the Future Value

485

(1)

Computing the Present Value of an Annuity

486

(2)

Computing Regular Payments of an Annuity from the Present Value

488

(1)

Computing the Payment to Amortize a Loan

489

(1)

Creating a Loan Amortization Schedule

490

(18)

29 Business Statistics

508

(22)

Statistical Averages: Computing the Mean

508

(1)

Determining the Median

509

(1)

Determining the Mode

509

(1)

Constructing Frequency Tables

510

(2)

Computing the Mean of Large Data Sets

511

(1)

Charts and Graphs: Constructing Histograms

512

(1)

Constructing Bar Graphs

513

(2)

Comparative Bar Graphs

513

(1)

Component Bar Graph

514

(1)

Constructing Line Graphs

515

(1)

Constructing Circle Graphs

516

(14)

30 Business Applications of Equations

530

(16)

Other Notations for Multiplication in Algebra

530

(1)

Solving Addition/Subtraction and Multiplication/Division Equations

530

(2)

Two Basic Principles of Algebra

531

(1)

Solving Complex Equations

532

(2)

Order of Operations

532

(2)

Solving Inventory Equations

534

(1)

Solving Simple Interest Equations

535

(1)

Solving Total Cost Equations

536

(10)

31 Business Math in Computer Operations

546

(14)

Solving Simple Problems Using a Binary Number System

546

(2)

Computing Computer Memory and Storage Capacity

548

(2)

Computing Computer Modem Communication Speeds

550

(10)

32 Math in Employment Tests

560

(22)

Solving Rate, Time, and Distance Problems

560

(1)

Solving Proportion Problems

561

(2)

Solving Time and Work Problems

563

(1)

Solving Measurement Problems

564

(2)

Solving Percentage Problems

566

(2)

Solving Relationship Problems

568

(14)

Glossary

582

(8)

Answers to Odd-Numbered Problems

590

(9)

Index

599

(8)

Progress Report

607

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Contemporary Business Mathematics for Colleges

Summary

Table of Contents

Supplemental Materials