Determine the type of business mathematics and finance problem by analyzing terminology.
Mathematics of Business and Finance
This course provides students with the fundamentals of mathematics of business and finance. Following the introduction of concepts of present and percent change, simple and compound interest rates will be discussed. Compound interest rates will be applied to the study of annuities. Students will also learn important models of business mathematics, such as currency conversion, trade discounts, markups and markdowns, break-even and cost-volume-analysis.
Upon successful completion of this subject the student will be able to:
- Determine the type of business mathematics and finance problem by analyzing terminology.
- Select a problem solving strategy, formula(s) and computational tools to solve business problems.
- Apply formula(s), computational tools and problem solving techniques to solve business and finance mathematics problems.
- Calculate the solution to business and finance mathematics problems, including percent, simple and compound interest, annuities and their applications.
- Explain the solution in the context of the problem.
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