Algebraic Business Calculations Course Summary Department: Career and Technical Education Business. Semester 1

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1 Algebraic Business Calculations Course Summary Department: Career and Technical Education Business Semester 1 Learning Objective #1 After completion of this objective, students will be able to: Demonstrate Basic Math Skills (Review and Remediation) Target(s) To Meet Learning Objective #1 Target 1: Review the following: writing and reading numbers, rounding numbers, comparing numbers, using decimals, using fractions, percentages, and estimation. Learning Objective #2 After completion of this objective, students will be able to: Determine Gross Income Target(s) To Meet Learning Objective #2 Target 1: Calculate regular and overtime earnings. Target 2: Calculate piecework, salary, and commission. Learning Objective #3 After completion of this objective, students will be able to: Deduct Taxes and Calculate Net Income and Prepare Payroll Records Target(s) To Meet Learning Objective #3 Target 1: Calculate federal income tax and state income tax Target 2: Calculate Social Security and Medicare taxes, group health insurance, and prepare a statement of earnings

2 Learning Objective #4 After completion of this objective, students will be able to: Create and Use a Budget for Financial Decisions Target(s) To Meet Learning Objective #4 Target 1: Calculate average monthly expenditures Target 2: Prepare and use a budget Learning Objective #5 After completion of this objective, students will be able to: Understand Banking/Checking Accounts, Reconcile; Calculate Interest and Fees Target(s) To Meet Learning Objective #5 Target 1: Record deposits, write checks, update the check register Target 2: Analyze and reconcile the bank statement; use online banking Learning Objective #6 After completion of this objective, students will be able to: Calculate Savings Account Balances after Deposits, Withdrawals, Fees, and Interest; Determine Amounts Saved Using Annuities Target(s) To Meet Learning Objective #6 Target 1: Make deposits, withdrawals, and calculate account balances Target 2: Calculate simple and compound interest Target 3: Calculate the value of annuities

3 Learning Objective #7 After completion of this objective, students will be able to: Calculate Sales Tax, Total Purchases, Unit Prices, Markups, Markdowns and Discounts. Target(s) To Meet Learning Objective #7 Target 1: Calculate sales tax and determine the total purchase price Target 2: Calculate unit pricing, use comparison shopping, coupons and rebates to save money Target 3: Calculate markdowns, markdown percentages, and sale prices Learning Objective #8 After completion of this objective, students will be able to: Determine Charge Account Interest, Fees, Credit Cards and Costs of Credit Target(s) To Meet Learning Objective #8 Target 1: Calculate account balances and finance charges using unpaid balance method Target 2: Calculate account balances and finance charges using average daily balance method Target 3: Calculate account balances and finance charges using average daily balance (new purchases included) method Semester 2 Learning Objective #1 After completion of this objective, students will be able to: Calculate and Compare Single Payment Loans, Installment Loans; Determine APR, Interest and Allocation of Monthly Payments Target(s) To Meet Learning Objective #1 Target 1: Determine single payment loans, installment loans, and simple interest Target 2: Calculate installment loans; allocation of monthly payment Target 3: Determine the APR

4 Learning Objective #2 After completion of this objective, students will be able to: Calculate New & Used Vehicle Costs; Compute Insurance and Operation Costs Target(s) To Meet Learning Objective #2 Target 1: Determine costs to purchase a new vehicle; calculate dealer's cost Target 2: Determine costs to purchase a used vehicle Target 3: Calculate vehicle insurance and operation costs Target 4: Determine costs to lease and rent a vehicle Learning Objective #3 After completion of this objective, students will be able to: Calculate Housing Costs Including Mortgage Payments, Interest, Closing Costs, Taxes, and Insurance Target(s) To Meet Learning Objective #3 Target 1: Determine the cost of mortgage loans, payments, and total interest Target 2: Calculate closing costs and monthly payments Target 3: Determine real estate taxes, homeowners insurance, and other housing costs Learning Objective #4 After completion of this objective, students will be able to: Calculate Premiums, Deductions, Benefits, and Costs for Health and Life Insurance Target(s) To Meet Learning Objective #4 Target 1: Understand and calculate health insurance premiums and benefits Target 2: Calculate the costs and benefits of life insurance Target 3: Understanding other types of insurance and their costs

5 Learning Objective #5 After completion of this objective, students will be able to: Calculate Yield and Compare Investments Including CD s, Stocks, and Bonds Target(s) To Meet Learning Objective #5 Target 1: Calculate the value of Certificates of Deposit Target 2: Calculate effective annual yield Target 3: Determine the costs and risks of investing in stocks & bonds Learning Objective #6 After completion of this objective, students will be able to: Calculate Business Personnel Costs Including Recruitment, Hiring, Insurance, Training & Travel Target(s) To Meet Learning Objective #6 Target 1: Calculate the cost of hiring new employees, wages and salaries, and benefits Target 2: Determine costs and benefits of disability insurance, workers compensation, and unemployment insurance Target 3: Project and calculate employee travel and training expenses Learning Objective #7 After completion of this objective, students will be able to: Calculate Manuf. & Production Costs; Breakeven Analysis, & Quality Control Target(s) To Meet Learning Objective #7 Target 1: Determine manufacturing costs, use breakeven analysis for projections Target 2: Estimate costs and implement quality control Target 3: Determine expenses using time studies and packaging costs

6 Learning Objective #8 After completion of this objective, students will be able to: Calculate Costs of Purchasing Merchandise, Trade & Chain Discounts Target(s) To Meet Learning Objective #8 Target 1: Calculate trade discounts Target 2: Calculate chain discounts Learning Objective #9 After completion of this objective, students will be able to: Determine Markup & Rates, Net Profit, Market Share, Marketing Costs and Product Pricing Target(s) To Meet Learning Objective #9 Target 1: Calculate markup, markup rate, net profit, net profit rate Target 2: Determine market share, advertising costs, and product pricing Learning Objective #10 After completion of this objective, students will be able to: Apportion Expenses, Calculate Payroll, Compute Depreciation and Create Accounting Financial Reports Target(s) To Meet Learning Objective #10 Target 1: Review payroll expenses, apportion expenses to departments, calculate depreciation Target 2: Use the accounting equation, balance sheets, and income statements to analyze a business.

SYLLABUS FOR CONSUMER MATH

SYLLABUS FOR CONSUMER MATH Textbook: Mathematics with Business Applications -- Glencoe, copyright 2004 Authors: Walter H. Lange and Temoleon G. Rousos Description: Consumer Math focuses on basic math skills