Concepts of Math for Business: The Mathematics of Finance (UMAP)

A unit that shows the student how to solve business problems involving percents, to use formulas to solve problems in finance, and how to use statistical averages and histograms. This module also gives students an understanding of the mathematics underlying these concepts.

Table of Contents:

INTRODUCTION

1. THE INTEGER EXPONENTS
1.1 Powers of a Number and Positive Integral Exponents
1.2 The Reciprocal of a Number and the Negatve Integral Exponent
1.3 All the Integer Exponents
1.4 The Laws of Exponents

2. DECIMALS AND PERCENT
2.1 Converting Common Fractions to Decimals
2.2 Converting Decimal Fractions to Common Fractions
2.3 Arithmetic with Decimal Numbers
2.4 Scientific and E-Notation
2.5 Percent
2.6 Some Business Problems Involving Percent

3. SEQUENCES AND THEIR SUMS, WITH APPLICATIONS TO STATISTICS
3.1 Sequences
3.2 The Median
3.3 The Mode
3.4 The Histogram
3.5 Series and Partial Sums
3.6 The Arithmetic Mean
3.7 Variance and Standard Deviation
3.8 Geometric Series
3.9 Geometric Series: Applications to Finance

4. THE MATHEMATICS OF FINANCE
4.1 Simple Interest
4.2 Compound Interest
4.3 Present Value
4.4 Savings Plans
4.5 Sinking Funds
4.6 Annuities
4.7 Amortization and Capital Recovery; In Plain English, Mortgages and Other Loans
4.8 Scheduling Repayment of a Loan
4.9 The General Problem in Finance

5. REFERENCES

6. TESTS

7. ANSWERS TO TEST QUESTIONS