Business Math Demystified

by Allan G. Bluman

Overview

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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.

Product Details

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

About 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.

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