Johnson County Community College, Mathematics Division Syllabus, MATH (CRN #81759), Fall 2014

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1 Johnson County Community College, Mathematics Division Syllabus, MATH (CRN #81759), Fall 2014 Course: Business Mathematics (3 credit hours) Description: This is a course for the student who needs specific skills in mathematics to address business problems and business applications. Students will learn the mathematics involved in payroll, retailing, asset valuation, interest, finance, and the time value of money. Students will use a calculator and computer to solve a variety of applications. Objectives: Upon successful completion of this course, the student should be able to: 1. Solve percent problems. 2. Apply mathematics to payroll situations. 3. Apply mathematics to retail situations. 4. Apply mathematics to finance situations. 5. Apply mathematics to the valuation of assets. 6. Use a financial calculator and a computer to apply mathematics to business problems. Prerequisite: Math 111 (Fundamentals of Math) with a grade of C or higher or appropriate score on the math placement test. Instructor: Steven J. Wilson Contact information: CLB 229, swilson@jccc.edu, ext Office Hours: M 9-10a, Tu 11-12n, W 12-1p, Th 11-12n, F 10-11a Web Sites: Other: Mailbox is in CLB 243. Fax number is Meetings: Class Dates, Time, Place: MWF, Aug. 18 Dec. 5, 2014, 11:00 11:50 a.m., GEB 315 Final Exam Date, Time, Place: Dec. 10, 11:00 a.m. 12:50 p.m., GEB 315 Holidays: September 1, November 26, 28 Attendance: Recorded daily, but not included in the grade. However, absences may hurt your understanding of either the material or our expectations. Tardy: See me at the end of class to avoid being counted absent. Resources: Required Textbook: Wilson, Business Math: Using Percents, 3 rd Edition, (pub. Kendall/Hunt, 2012, ISBN: print or ebook ) Calculator: A financial calculator is required. Typical models include the TI BA II Plus, the TI-84, the HP 10BII, or the Bishinews Financial Calculator cell phone app. However, the cell phone app cannot be used in the JCCC Testing Center. Materials in Desire2Learn:

2 Requirements, 775 points total: (for all due dates, see the tentative course schedule) 31 online homework assignments, 5 points each o Due at 11:59 pm on the due date. No makeups. No credit if not done. o Can be repeated before the deadline to raise your grade. Highest score is used. 4 spreadsheets, 20 points each o Late spreadsheets will lose 2 points for 1-7 days late, 4 points later. 4 show-and-tell assignments, 10 points each o Late show-and-tell assignments will lose 2 points for 1-7 days late, 4 points later. 4 unit exams, 100 points each, all given in class o Tentative Dates: Sep. 12, Oct. 1, Oct. 27, Nov. 24. o Partial credit awarded only when work is present. o Missed and poor exam(s): will be replaced by final exam, if final is higher. 1 final exam, 100 points (Dec. 10). All students are required to take the final. o If classes are cancelled during finals week, check Desire2Learn for options. Grades: Scale: A= , B= , C= , D= , F=0-464 Incompletes only if you have a medical necessity and a passing average. If you stop attending but do not drop the class, you will earn a zero on the final, and probably an F for the course. Extra credit, 35 points maximum, available for: Spreadsheet #3, Office visit, and Integermania. See Desire2Learn for more detail. Academic Dishonesty: All JCCC math students are expected to comply with the Student Code of Conduct (see the JCCC web site). Students are encouraged to familiarize themselves with the topics listed in the code. Penalties could include an F in the class or an F on that particular assignment. ADA Accommodations: JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you desire support services, contact the Access Services office, (or TTY ). The Access Services office is located in the Success Center on the second floor of the Student Center.

3 HW = online homework ST = show-and-tell assignment SS = spreadsheet assignment Tentative Course Schedule Math , Fall 2014 Dates Sections, Assignments Mon 8/18 Class, 2.1 Wed 8/20 Class, 2.2 Fri 8/22 Class, 2.3 Mon 8/25 Class, 2.4 Wed 8/27 Class, 3.1 Thu 8/28 HW 2 DUE Fri 8/29 Class, 3.2 Mon 9/1 HOLIDAY Wed 9/3 Class, 3.3 Fri 9/5 Class, 3.4 Mon 9/8 Class, 3.5 Tue 9/9 ST 1 DUE Wed 9/10 Class, review Thu 9/11 HW 3 DUE Fri 9/12 Class, EXAM 1 Mon 9/15 Class, 4.1, SS 1 DUE Wed 9/17 Class, 4.2 Fri 9/19 Class, 4.3 Mon 9/22 Class, 4.4 Wed 9/24 Class, 4.5 Fri 9/26 Class, 4.6 Mon 9/29 Class, review, ST 2 DUE Tue 9/30 HW 4 DUE Wed 10/1 Class, EXAM 2 Fri 10/3 Class, 5.2, SS 2 DUE Mon 10/6 Class, 5.3 Wed 10/8 Class, 5.4 Fri 10/10 Class, 6.1 Sun 10/12 HW 5 DUE Mon 10/13 Class, 6.2, SS 3 DUE (Extra Credit) Wed 10/15 Class, 6.3 Fri 10/17 Class, 6.4 Mon 10/20 Class, 6.5 Wed 10/22 Class, 6.6 Thu 10/23 ST 3 DUE Fri 10/24 Class, review Sun 10/26 HW 6 DUE Mon 10/27 Class, EXAM 3 Wed 10/29 Class, 7.1, SS 4 DUE Fri 10/31 Class, 7.2 Mon 11/3 Class, 7.3 Wed 11/5 Class, 7.4 Fri 11/7 Class, 7.5 Mon 11/10 Class, 8.1 Tue 11/11 HW 7 DUE Wed 11/12 Class, 8.3 Fri 11/14 Class, 8.5 Mon 11/17 Class, 8.4 Wed 11/19 Class, 8.2 Thu 11/20 ST 4 DUE Fri 11/21 Class, review Sun 11/23 HW 8 DUE Mon 11/24 Class, EXAM 4 Wed 11/26 HOLIDAY Fri 11/28 HOLIDAY Mon 12/1 Class, review, SS 5 DUE Wed 12/3 Class, review Fri 12/5 Class, review Mon 12/8 NO CLASS Wed 12/10 FINAL EXAM, 11:00 am-12:50 pm

4 Math 120: Business Math Course Outline and Competencies I. The Mathematics of Percents A. Solve for base, rate, or part in a basic percent problem. B. Solve for the old or new value in a percent increase problem. C. Solve for the old or new value in a percent decrease problem. II. The Mathematics of Payroll A. Given an hourly wage with an overtime policy, find the gross pay. B. Given a commission structure or a piecework rate, find the gross pay. C. Use the Percentage Method to calculate federal and state withholding tax. D. Calculate FICA taxes; explain the purpose of FICA taxes. E. Calculate federal and state unemployment taxes. F. Calculate an employee s net pay. G. Calculate the cost of employment; identify the employment taxes an employer must pay. H. Use a computer to analyze the effect of taxes on gross pay. III. The Mathematics of Retailing A. Read an analyze an invoice; explain key abbreviations. B. Calculate trade, series, and cash discounts. C. Calculate markup based on cost. D. Calculate markup based on selling price. E. Calculate markdowns. F. Calculate the adjusted cost when shrinkage is present. G. Calculate the net profit. H. Calculate operating loss and absolute loss; explain the meaning of each. I. Calculate the amount of operating expenses from the percent. J. Calculate the breakeven point. IV. The Mathematics of Finance and the Simple Interest Formula A. Find the interest earned using the simple interest formula. B. Solve for principal, rate, or time in a simple interest problem. C. Calculate the interest, the proceeds, and the maturity value on a simple interest note or a simple discount note. D. Find the bank discount on a note; explain what discounting a note means in terms of a problem. E. Determine the effective rate (APR) of a note. F. Compute the payoff amount on a loan or note using the U.S. Rule. V. The Mathematics of Finance and Time Value of Money Problems A. Use the financial calculator to find the future value, initial value, time, or rate of a lump sum deposit problem. B. Use the financial calculator to find the future value, initial value, periodic payment, time, or rate of a savings plan. C. Use the financial calculator to find the future balance, present balance, periodic payment, time, or rate of a loan. D. Calculate the total interest earned in a time value of money problem.

5 E. Calculate the present value of an annuity; explain the meaning of present value. F. Use a computer to solve time value of money applications; analyze computer results of time value of money applications. VI. The Valuation of Assets A. Determine the value of ending inventory using Average Cost (Weighted Average), FIFO, and LIFO. B. Use the straight line depreciation method to find the value of an asset. C. Use the double declining balance depreciation method to find the value of an asset. D. Use the units of production depreciation method to find the value of an asset.