Business Math Demystified / Edition 1

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This work teaches business-management students all the basic mathematics used in a retail business and follows the standard curriculum of Business Math courses.
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Product Details

  • ISBN-13: 9780071464703
  • Publisher: McGraw-Hill Professional Publishing
  • Publication date: 3/10/2006
  • Series: Demystified Series
  • Edition number: 1
  • Pages: 390
  • Sales rank: 227,134
  • Product dimensions: 7.50 (w) x 9.30 (h) x 0.80 (d)

Meet the Author

Allan G. Bluman taught mathematics and statistics in high school, college, and graduate school for 39 years. He received his Ed.D. from the University of Pittsburgh and has written three mathematics textbooks published by McGraw-Hill, as well as the hugely popular Pre-Algebra Demystified, Probability Demystified, and Math Word Problems Demystified. Dr. Bluman is the recipient of an "Apple for the Teacher" award for bringing excellence to the learning environment and the "Most Successful Revision of a Textbook" award from McGraw-Hill. His biographical record appears in Who's Who in American Education, 5th edition.

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Table of Contents

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
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Customer Reviews

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  • Posted August 8, 2009

    Helpuful For Test Preparation

    I bought this book to review business math for a civil service test. I found it to be very easy to follow. The sample problems were broken down in smaller parts so it was easier to understand how to solve the problem. The book covers a lot of topics so you get a good overall review. It is also good for the average consumer who deals with math on a daily basis. The only negative thing I found was that there were two or three problems that had errors in the calculations. No big deal!

    Was this review helpful? Yes  No   Report this review
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