# Business Math Demystified / Edition 1

Keep your business running in tip-top shape with a firm grasp of the business math required for day-to-day transactions. Whether you need to calculate sales tax or keep records of inventory, experienced math instructor Allan G. Bluman provides a painless and effective approach to

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## Overview

Keep your business running in tip-top shape with a firm grasp of the business math required for day-to-day transactions. Whether you need to calculate sales tax or keep records of inventory, experienced math instructor Allan G. Bluman provides a painless and effective approach to mastering the mathematical skills necessary for today's business world.

With Business Math Demystified, you master the subject one simple step at a time — at your own speed. This unique self-teaching guide offers a quiz at the end of each chapter to pinpoint weaknesses and a 75-question final exam to reinforce the entire book.

• Easily master basic business mathematics concepts
• Supplement your college studies with this self-study guide and decipher complex terms in an easy-to-read format
• Learn how to calculate the markup, sales tax, and discount on items sold
• Get through lengthy computations with the sections on using a scientific calculator
• Understand depreciation, inventory, promissory notes, financial statements, stocks and bonds, and more

Whether you want help in operating a profitable retail business or need to get through that business math course, Business Math Demystified is the perfect shortcut.

## Product Details

ISBN-13:
9780071464703
Publisher:
McGraw-Hill Professional Publishing
Publication date:
03/10/2006
Series:
Demystified Series
Edition description:
List
Pages:
390
Sales rank:
337,581
Product dimensions:
7.50(w) x 9.30(h) x 0.80(d)

## Related Subjects

 Preface xi Chapter 1 Fractions-Review 1 Basic Concepts 1 Operations with Fractions 4 Operations with Mixed Numbers 7 Quiz 10 Chapter 2 Decimals-Review 17 Rounding Decimals 17 Addition of Decimals 19 Subtraction of Decimals 20 Multiplication of Decimals 20 Division of Decimals 21 Comparing Decimals 24 Changing Fractions to Decimals 25 Changing Decimals to Fractions 27 Quiz 29 Chapter 3 Percent-Review 32 Basic Concepts 32 Changing Percents to Decimals 32 Changing Decimals to Percents 34 Changing Fractions to Percents 36 Changing Percents to Fractions 38 Three Types of Percent Problems 39 Word Problems 43 Quiz 45 Chapter 4 Formulas-Review 49 Introduction 49 Exponents 50 Order of Operations 51 Formulas 55 Quiz 58 Chapter 5 Checking Accounts 61 Introduction 61 Recording the Transactions 61 Reconciling a Bank Statement 67 Summary 73 Quiz 73 Chapter 6 Payroll and Commission 76 Introduction 76 Yearly Salary 76 Hourly Wages 78 Piecework Wages 80 Commission 82 Payroll Deductions 85 Summary 87 Quiz 88 Chapter 7 Markup 91 Introduction 91 Markup on Cost 92 Markup on Selling Price 97 Relationships Between the Markups 103 Markdown and Shrinkage 106 Summary 113 Quiz 113 Chapter 8 Discounts 116 Introduction 116 Trade Discounts 117 Trade Discount Series 121 Cash Discounts 126 Discounts and Freight Terms 132 Summary 135 Quiz 136 Chapter 9 Simple Interest and Promissory Notes 138 Introduction 138 Simple Interest 139 Finding the Principal, Rate, and Time 145 Exact and Ordinary Time 149 Promissory Notes and Discounting 157 Summary 164 Quiz 164 Chapter 10 Compound Interest 167 Introduction 167 Compound Interest 167 Effective Rate 173 Present Value 175 Summary 179 Quiz 180 Chapter 11 Annuities and Sinking Funds 182 Introduction 182 Annuities 183 Sinking Funds 188 Summary 191 Quiz 192 Chapter 12 Consumer Credit 194 Introduction 194 Installment Loans 194 Annual Percentage Rate 198 Rule of 78s 202 Credit Cards 207 Summary 213 Quiz 214 Chapter 13 Mortgages 216 Introduction 216 Fixed-Rate Mortgage 217 Finding Monthly Payments 220 Amortization Schedule 224 Summary 228 Quiz 229 Chapter 14 Insurance 231 Introduction 231 Fire Insurance 231 Automobile Insurance 238 Life Insurance 240 Summary 243 Quiz 244 Chapter 15 Taxes 246 Introduction 246 Sales Tax 246 Property Tax 249 Income Tax 252 Summary 255 Quiz 255 Chapter 16 Stocks and Bonds 257 Introduction 257 Stocks 258 Bonds 265 Summary 269 Quiz 269 Chapter 17 Depreciation 272 Introduction 272 The Straight-Line Method 273 Sum-of-the-Years-Digits Method 276 Declining-Balance Method 281 The Units-of-Production Method 285 The MACRS Method 287 Summary 287 Quiz 287 Chapter 18 Inventory 291 Introduction 291 Cost of Goods Sold 291 The Retail Inventory Method 300 Inventory Turnover Rate 303 Summary 308 Quiz 308 Chapter 19 Financial Statements 312 Introduction 312 The Balance Sheet 313 Income Statements 319 Summary 322 Quiz 322 Chapter 20 Statistics 325 Introduction 325 Frequency Distributions 325 Measures of Average 334 Measures of Variability 337 Summary 343 Quiz 343 Chapter 21 Charts and Graphs 346 Introduction 346 The Bar Graph and Pareto Graph 347 The Pie Graph 352 The Time Series Graph 356 The Scatter Diagrams 359 The Stem and Leaf Plot 363 Summary 366 Quiz 366 Final Exam 368 Answers to Quizzes and Final Exam 382 Index 387