BADM 1005 Business Math I

This applied math course focuses on real-world business problems. Students will calculate percentages, establish retail prices, calculate payroll, calculate simple and compound interest, evaluate investment opportunities, and learn to read and create graphs and charts. Prerequisite: Completion of MATH 0920 or test into MATH 0930 or higher. (3 lect.) APPM

Credits

3 credits

Transfer Status

Transferable to UW.

Major Topics

  • Percent
  • Checking Accounts/Bank Reconciliation
  • Payroll
  • Taxes
  • Markup and Markdown
  • Invoices, Trade Discounts, and Cash Discounts
  • Simple Interest and Promissory Notes
  • Compound Interest and Present Value
  • Annuities
  • Investments

Outcomes

In order to successfully complete this course, the student will:

1. Demonstrate solving applied business problems by using a financial calculator and/or by using spreadsheet software

2. Perform percent calculations

3. Convert decimals to fractions and percents: convert fractions and percents to decimals

4. Calculate change

5. Explain checking account charges and perform an account reconciliation

6. Demonstrate the proper method of writing checks, completing deposit slips, check stubs, and registers

7. Discuss how the banking system is evolving to include e-banking and cell phone banking

8. Apply basic algebraic concepts, terminology and rules of equations for solving business related problems

9. Demonstrate the relationship of percent to decimal, decimal to percent, percent to fraction, and fraction to percent

10. Apply the percentage formula to business scenarios:

10a. calculate rate of increase or decrease

10b. calculate single and multiple series discounts

10c. use the net price factor to calculate net price and single discount equivalents

11. Apply markup based on cost pricing by using the retailing equation to determine the cost, markup, and selling price of a product

12. Calculate the selling price when cost and percent markup based on cost are known and solve the equations for missing variables

13. Apply markup based on selling pricing by using the retailing equation to determine percent markup based on selling price, cost and selling price of a product

14. Calculate the selling price when the cost and percent markup based on selling price are known and solve the equation for missing variables

15. Calculate markdowns and additional markups on products

16. Calculate the selling price of perishable goods

17. Calculate gross and net earnings based on a variety of pay schemes

18. Determine employee’s payroll deductions including FICA taxes, Social Security, Medicare, and other withholding

19. Compute Federal Income tax withholding by the percentage method and wage bracket tables

20. Discuss credit scores and how these scores impact a socioeconomic status

21. Discuss red-lining and how minorities have been impacted by lending industries

22. Apply the simple interest formula using exact and/or ordinary interest

23. Solve for missing variables in the simple interest formula

24. Explain the purpose of promissory notes and discuss why they are sometimes discounted and sold

25. Calculate compound interest, present value, and annuities

26. Use correct mathematical terminology

27. Throughout the semester, identify where business math intersects related disciplines such as economics, management, accounting, personal finance, entrepreneurship, and banking

Other Information

Any information placed here must be adhered to by all instructors:

Please contact on-campus instructor for required textbook and course materials A business/financial calculator is required for this class