BUSINESS MATH
POFT 1321
(Spring 2007 - Internet)
SYLLABUS
Course Information
Course Title: Business Math
Course Number: POFT 1321
Prerequisite:
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a. Basic fundamentals of math (addition, subtraction, multiplication, & division). b. Use of a simple pocket calculator, not a scientific calculator. c. Internet connection with an e-mail address. d. Word Processor such as: MicroSoft Word, WordPerfect, or Works. |
Course Description:
This course is designed to provide a review of basic mathematic skills and to provide a mathematic background for accounting. The course includes instruction on fractions, decimals, banking, simple equations, percentage, discounts, markups and markdowns, payroll, simple interest, promissory notes, and compound interest. Also, includes the use of pocket calculators.
This is not a self paced course. There are due dates for the assignments and the tests. Starting with week two, there are assignments due each week. There are also cut off dates. These are the dates that the assignments will no longer be accepted.
Tests will be Proctored
The student will
have to come to the
VCT Students: You will go to the testing center of the college you are enrolled in to take the tests listed above. Contact the testing center early in the semester to see if you have to make an appointment to be tested.
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Login Procedure: |
Go to this site: http://courses.tvcc.edu
Login using your last name, first initial, last four numbers of social security. Use lower case and no spaces. Password is last four numbers of social security.
Example: Roger Jones SS# 456-78-9012
ID: jonesr90l2 Password: 9012
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Online Orientation |
On my faculty web site (link below), at the bottom of the homepage, there is a link to my Online Orientation
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WebCT Tutorial |
Learn how to use all the tools of your WebCT site that you will be using for this course at the following link: http://www.tvcc.edu/Depts/dist.learning/WEBCT_Tutorial/index.htm
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Instructor Information
Name: Del Spencer
E-Mail: dspencer@tvcc.edu
Office Location:
Office hours: M-F 1:00-3:00 p.m.
Office phone: 903-675-6251
Textbook:
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Required Text: |
PRACTICAL BUSINESS MATH PROCEDURES by Jeffrey Slater (Brief 8th Ed.), McGraw-Hill/Irwin Publishers, 2006, pp. 321.
ISBN: 0-07-313309-4
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Supplies needed: Pocket calculator. |
Course Learning Outcomes:
Upon successful completion of this course, the student will be able to accomplish the following learning outcomes:
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CHAPTER 1 |
WHOLE NUMBERS; HOW TO DISSECT AND SOLVE WORD PROBLEMS |
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1. Use place values to read and write numeric and verbal whole numbers p. 5 2. Round whole numbers to the indicated position pp. 6-7 3. Use blueprint aid for dissecting and solving a word problem p. 8
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Adding and Subtracting Whole Numbers 1. Add whole numbers: check and estimate addition computations pp. 9-10 2. Subtract whole numbers; check and estimate subtraction computations pp. 11-12
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Multiplying and Dividing Whole Numbers 1. Multiply whole numbers; check and estimate multiplication computations pp. 14-15 2. Divide whole numbers; check and estimate division computations pp. 16-17
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CHAPTER 2 |
FRACTIONS |
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Types of Fractions and Conversion Procedures 1. Recognize the three types of fractions pp. 38-39 2. Convert improper fractions to whole or mixed numbers and mixed numbers to improper fractions p. 40 3. Convert fractions to lowest and highest terms pp. 40-42
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Addition and Subtraction of Fractions 1. Add like and unlike fractions pp. 43-44 2. Find the least common denominator (LCD) by inspection and prime numbers pp. 44-45 3. Subtract like and unlike fractions p. 46 4. Add and subtract mixed numbers with the same or different denominators pp. 47-48
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Multiplication and Division of Fractions 1. Multiply and divide proper, improper, and mixed numbers pp. 49-51 2. Use the cancellation method in the multiplication and division of fractions pp. 50-51
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CHAPTER 3 |
DECIMALS |
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Rounding Decimals: Fraction and Decimal Conversions 1. Explain the place values of whole numbers and decimals: round decimals pp. 70-72 2. Convert decimal fractions to decimals, proper fractions to decimals, mixed numbers to decimals, and pure and mixed decimals to decimal fractions pp. 72-75
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Adding, Subtracting, Multiplying, and Dividing Decimals 1. Add, subtract, multiply, and divide decimals pp. 76-79 2. Multiply and divide decimals by shortcut methods pp. 78-79 3. Complete decimal applications in foreign currency pp. 78
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CHAPTER 4 |
BANKING |
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The Checking Account; Credit Card Transactions 1. Define and state the purpose of signature cards, checks, deposit slips, check stubs, check registers and endorsements pp. 96-98 2. Correctly prepare deposit slips and write checks, and complete a check register pp. 99-100 3. Explain how a merchant completes a credit card transaction for manual deposit or electronic deposit pp. 99-100
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Bank Statement and Reconciliation Process; Trends in Banking 1. Define and state the purpose of the bank statement pp. 102-103 2. List the steps to complete a bank check register and reconciliation pp. 104-105 3. Explain the trends in online banking pp. 105-106
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CHAPTER 5 |
SOLVING FOR THE UNKNOWN: A HOW-TO APPROACH FOR SOLVING EQUATIONS |
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Solving Equations for the Unknown 1. Explain the basis procedures used to solve equations for the unknown pp. 123-124 2. List the five rules and the mechanical steps used to solve for the unknown in seven situations: know how to check the answers pp. 125-127
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Solving Word Problems for the Unknown 1. List the steps for solving word problems p. 128 2. Complete blueprint aids to solve word problems; check the solutions pp. 128-130
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CHAPTER 6 |
PERCENTS AND THEIR APPLICATIONS |
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Conversions 1.
Convert decimals to percents, percents to decimals, and fractions to percents
2. Convert percents to fractions p. 150
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Application of Percents – Portion Formula 1. List and define the key elements of the portion formula pp. 151-152 2. Solve for one unknown of the portion formula when the other two key elements are given pp. 152-155 3. Calculate the rate of percent increases and decreases pp. 155-158
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CHAPTER 7 |
DISCOUNTS: TRADE AND CASH |
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Trade Discounts – Single and Chain 1. Calculate single trade discounts with formulas and complements pp. 178-180 2. Explain the freight terms FOB shipping point and FOB destination pp. 180-181 3. Find list price when the net price and trade discount rate are known p. 182 4. Calculate chain discounts with the net price equivalent rate and single equivalent discount rate pp. 183-185
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Cash Discounts, Credit Terms, and Partial Payments 1. List and explain typical discount periods and credit periods that a business may offer pp. 187-193 2. Calculate outstanding balance for partial payments p. 194
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CHAPTER 8 |
MARKUP AND MARKDOWNS; INSIGHT INTO PERISHABLES |
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Markups based on Cost (100%) 1. Calculate dollar markup and percent markup on cost p. 213 2. Calculate selling price when you know the cost and percent markup on cost p. 214 3. Calculate cost when dollar markup and percent markup on cost are known p. 215 4. Calculate cost when you know the selling price and percent markup on cost p. 215
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Markups Based on Selling Price (100%) 1. Calculate dollar markup and percent markup on selling price p. 219 2. Calculate selling price when dollar markup and percent markup on selling price are known p. 219 3. Calculate selling price when cost and percent markup on selling price are known p. 219 4. Calculate cost when selling price and percent markup on selling price are known p. 219 5. Convert from percent markup on cost to percent markup on selling price and vice versa p. 220
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Markdowns and Perishables 1. Calculate markdowns; compare markdowns and markups p. 224 2. Price perishable items to cover spoilage loss p. 225
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CHAPTER 9 |
PAYROLL |
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Calculating Various Types of Employees’ Gross Pay 1. Define, compare and contrast weekly, biweekly, semimonthly, and monthly pay periods p. 244 2. Calculate gross pay with overtime on the basis of time p. 245 3. Calculate gross pay for piecework, differential pay schedule, straight commission, withdraw, and salary plus commission pp. 246-247
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Computing Payroll Deductions for Employees’ Pay: Employers Responsibilities 1. Prepare and explain the parts of a payroll register p. 248 2. Explain and calculate federal and state unemployment taxes p. 251
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CHAPTER 10 |
SIMPLE INTEREST |
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Calculation of Simple Interest and Maturity Value 1. Calculate simple interest and maturity value for months and years p. 266 2. Calculate simple interest and maturity value by (a) exact interest and (b) ordinary interest pp. 266-268
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Finding Unknown in Simple Interest Formula 1. Using the interest formula, calculate the unknown when the other two (principal, rate, or time) are given pp. 269-270
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1. List the steps to complete the U.S. Rule pp. 270-271 2. Complete the proper interest credits under the U.S. Rule pp. 270-271
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CHAPTER 11 |
PROMISSORY NOTES, SIMPLE DISCOUNT NOTES, AND THE DISCOUNT PROCESS |
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Structure of Promissory Notes; the Simple Discount Note 1. Differentiate between interest-bearing and noninterest-bearing notes pp. 286-287 2. Calculate bank discount and proceeds for simple discount notes p. 287 3. Calculate and compare the interest, maturity value, proceeds, and effective rate of a simple interest note with a simple discount note p. 287 4. Explain and calculate the effective rate for a Treasury bill p. 288
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Discounting an Interest-Bearing Note before Maturity 1. Calculate the maturity value, bank discount, and proceeds of discounting an interest-bearing note before maturity p. 289-290 2. Identify and complete the four steps of the discounting process p. 289
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CHAPTER 12 |
COMPOUND INTEREST AND PRESENT VALUE |
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Compound Interest (Future Value) – The Big Picture 1. Compare simple interest with compound interest pp. 302-303 2. Calculate the compound amount and interest manually and by table lookup pp. 304-305 3. Explain and compute the effective rate (APY) p. 306
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Present Value – The Big Picture 1. Compare present value (PV) with compound interest (FV) p. 309 2. Compute present value by table lookup pp. 309-310 3. Check the present value answer by compounding p. 311
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This course is designed to:
a. Improve computational skills which enable the student to perform mathematical functions rapidly and accurately using a calculator.
b. Develop problem‑solving skills which enable the student to solve business problems.
c. Develop systematic thinking necessary to solve multiple calculations in a series so that each step develops logically from the preceding one.
d. Provide the student with the skills, techniques, and information necessary to apply basic math to business and consumer experiences.
Grading Policies:
There will be 6 major tests from the textbook, plus there will be a final exam. There will be assigned problems from each chapter in the textbook.
Chapter Checkups (2 x 100) - 200 points - 15% (Chapters 2-5)
Chapter Tests (4 x 200) - 800 points ‑ 60% (Chapters 6-9)
Assigned Problems (8 x 25) - 200 points ‑ 15%
Final Exam (1 x 100) - 100 points ‑ 8%
Photo for Class roll (1 x 25) - 25 points - 2%
1325 points -100%
Final grade will be determined using the point system. Each Chapter Checkup (Chapters 2-5) is worth 100 points. Each Chapter Test is worth 200 points each. Each homework assignment is worth 25 points. The Final Exam is worth 100 points. The photo for the class roll is worth 25 points. At the end of the semester, I will add up all the points you have earned and use the following scale to determine your grade:
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Grade |
Points |
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A = |
1186-1325 |
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B = |
1054-1185 |
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C = |
921-1053 |
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D = |
789-920 |
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F = |
788 and Below |
Test Schedule:
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These 3 tests will not be proctored:
Test 1 - Chapters 2 & 3 - Week 3 Test 2 - Chapters 4 & 5 - Week 6 Final - Chapters 6-9 - Finals Week
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These 4 tests will be proctored:
Test 3 - Chapter 6 - Week 8 Test 4 - Chapter 7 - Week 10 Test 5 - Chapter 8 - Week 12 Test 6 -
Chapter 9 - Week 15 |
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Additional Information: ¬ I will drop the lowest test after Test 6 Chapter 9 is completed. ¬ I will drop the lowest homework assignment after Chapter 9 is completed. ¬ If you have an A average going into the final exam and you have taken all the tests, then you can drop the final. ¬ If you do not have an A average or you have not taken all the tests, you will have to take the Final Exam.
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Academic Dishonesty
Academic dishonesty (cheating on an assignment or test) will not be tolerated in this class. If the instructor finds a student or students cheating, a grade of zero will be given for that assignment/test and could result in a grade of zero for the entire unit of work. Examples of academic dishonesty are, but not limited to:
§ Letting someone copy your assignment/test.
§ Substituting for another student, or permitting another student to substitute for oneself, to take a test.
§ Knowingly using another person’s work and submitting the work as your own.
§ Giving your answers to someone for whatever reason to look at or use.
§ Working on an assignment/test with a classmate or someone else. You must complete your own work.
§ Copying someone’s answer sheet and submitting it as your own.
If a student lets another student copy from them, then both students will receive the same punishment.
Photo For Class Roll:
· Please send me a digital photo of yourself showing front view from head to waist. Use the JPG format. Send it to me as an e-mail attachment.
· If you do not have access to a
digital camera or scanner, come by my office on the
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If you do not come to the
· As a last resort, send me a photo of yourself thru the U.S Mail. My address is:
Del Spencer
Directions For Copying Answer Sheet:
1. Click on “Chapter Assignments” icon on homepage.
2. Click on Chapter assignment that you want to copy.
3. Select or highlight the heading and the table.
4. Click Edit – Copy
5. Minimize or close the WebCT Math site.
6. Open your word processor: such as Word 2003
7. Click Edit – Paste
8. Your assignments for Chapter 2 should be on the screen. Save the file, name it Chap02.doc. If you have not worked the problems, print a copy of the assignments. Work the problems and write your answer in the blanks on the printed copy. After you have worked the problems, open the file (Chap02.doc) again and type in your answers on the screen. TYPE YOUR NAME at the top of the assignment sheet. Then, save the file again, same name.
Directions For Submitting Assignments:
1. Click on “To Submit Assignments” icon on homepage.
2. Click on Chapter assignment that you want to submit.
3. Under heading “Submit Assignments” click on Upload file
4. Click on Browse
5. Change “Look in” box to the Drive you saved your file in and locate your file.
6. Double click the file name – Chap02
7. Click Upload
8. At bottom of screen, under “Notification” heading, type in YOUR regular e-mail address.
9. Click “Submit Assignment”
10. You should see a “Success” statement that your assignment was submitted.