Johnson County Community College, Mathematics Division Syllabus, Fall 2014 MATH (CRN #81777), MATH (CRN #81778)

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1 Johnson County Community College, Mathematics Division Syllabus, Fall 2014 MATH (CRN #81777), MATH (CRN #81778) 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. If a student is found not to have successfully fulfilled the pre-requisite(s) for this course, the student will be dropped from the course. 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 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, or the HP 10BII. Cell phones and computers are not permitted on the final. Materials in Desire2Learn: ADA Accommodations: JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you are a student with a disability and if you are in need of accommodations or services, it is your responsibility to contact Access Services and make a formal request. To schedule an appointment with an Access Advisor or for additional information, you can contact Access Services at (913) or accessservices@jccc.edu. Access Services office is located in the Success Center on the second floor of the Student Center.

2 Requirements, 1200 points total: (for all 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, 15 points each o Late spreadsheets lose 2 points for 1-7 days late, 4 points later. 4 show-and-tell assignments, 8 points each o Late show-and-tell assignments lose 2 points for 1-7 days late, 4 points later. 4 unit exams, 120 points each. Each exam has a window of available dates. o Unit exams can be open (online from home) or proctored (without notes and books, at the JCCC Testing Center). o When a unit exam is proctored, showing your work may earn partial credit. o If all unit exams are open (NOT RECOMMENDED), then you must earn at least 70% on the final to earn a C or better in the course. o Missed & poor exam(s): will be replaced by the prorated final exam score, if the prorated final exam score is higher. 1 final exam, 480 points. All students are required to take the final. o The final is a paper-and-pencil exam, and is NOT online. o The final must be taken in a proctored setting, usually the JCCC Testing Center. o Requests to take the final somewhere else should be made by Nov. 15. o If time limit is exceeded, grade will be reduced by same percent as time over. o If the college is closed during finals week, check Desire2Learn for options. Attendance: You must submit at least one online homework assignment in the first two weeks or you will be dropped from the course for non-attendance. Once you have begun the course, I will not drop you. Therefore, if you stop working in the course, you should officially drop the class. Otherwise, you will earn a zero on the final, and probably an F for the course. For drop deadlines, see Grades: If all unit exams are unproctored and your final exam score is below 70%, then the grading scale is: D= , F= Otherwise, the scale is: A= , B= , C= , D= , F= Incompletes only if you have a medical necessity and a passing average. Extra credit, 60 points maximum, available for: Spreadsheet #3, Integermania, and an office visit. 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.

3 Tentative Course Schedule Math , Math , Fall 2014 Dates for sections are suggested dates Items labeled DUE are deadlines Dates Sections, Assignments Mon 8/ Tue 8/ Thu 8/ Fri 8/ Mon 8/ Tue 8/26 HW 2 DUE Wed 8/ Fri 8/ Tue 9/2 3.4 Wed 9/3 3.5 Fri 9/5 HW 3 DUE, EXAM 1 AVAILABLE Tue 9/9 ST 1 DUE Wed 9/10 SS 1 DUE Fri 9/12 EXAM 1 DUE Mon 9/ Tue 9/ Thu 9/ Fri 9/ Mon 9/ Wed 9/ Fri 9/26 HW 4 DUE, EXAM 2 AVAILABLE Tue 9/30 ST 2 DUE Wed 10/1 SS 2 DUE Fri 10/3 EXAM 2 DUE Mon 10/6 5.2 Tue 10/7 5.3 Wed 10/8 5.4 HW = online homework ST = show-and-tell assignment SS = spreadsheet assignment Fri 10/10 HW 5 DUE Mon 10/13 SS 3 DUE (Extra Credit) Tue 10/ Wed 10/ Fri 10/ Mon 10/ Tue 10/ Wed 10/ Fri 10/24 HW 6 DUE, EXAM 3 AVAILABLE Tue 10/28 ST 3 DUE Wed 10/29 SS 4 DUE Fri 10/31 EXAM 3 DUE Mon 11/3 7.1 Wed 11/5 7.2 Fri 11/7 7.3 Mon 11/ Tue 11/ Thu 11/13 8.1, HW 7 DUE Fri 11/ Mon 11/ Wed 11/ Fri 11/21 HW 8 DUE, EXAM 4 AVAILABLE Mon 11/24 ST 4 DUE Tue 11/25 SS 5 DUE Tue 12/2 EXAM 4 DUE Wed 12/3 FINAL EXAM AVAILABLE Wed 12/10 FINAL EXAM DUE

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.