MATH 1091
Business Mathematics

3.0 Credits

Description

Students are introduced to mathematics of management, which includes such concepts as simple interest, discounts, present value, time value of money, compound interest, annuities, sinking funds, capitalized cost, and bonds and stocks. This course assumes no prior knowledge of the mathematics of finance, as each of the topics is presented in astep-by-step manner, with examples provided.

Delivery Method

Print-based or Web-based.

Prerequisites

Principles of Math 11, Pre-calculus 11, Foundations 12, or MATH 0523 or equivalent skills as established by the math placement test found at http://www.tru.ca/__shared/assets/Math_Assessment_March_20123802.pdf is strongly recommended.

NOTE: This course is NOT the equivalent of TRU's MATH 1070 or 1071. Students with credit for TRU-OL MATH 1070 or 1071 may not take TRU-OL MATH 1091 for further credit.

This course does not meet the mathematics/science requirement for arts and science degree programs offered through TRU-OL.

Objectives

The overall aims of this course are to increase knowledge of finance and to provide the computational skills needed for evaluating financial decisions. Successful completion of this course will enable students to:

  • Clearly define the different ways in which interest on money can be calculated.
  • Explain the meaning of the following terms: simple interest, compound interest, equivalent rates of interest, promissory and demand notes, annuities, perpetuities, capitalized cost, depletion allowances, and stocks and bonds.
  • Undertake the necessary computations for problems of interest, annuities and perpetuities, capitalized cost, depletion allowances, and stocks and bonds.
  • Use the results of mathematical calculations to help evaluate various options in reaching financial decisions, whether personal or business-related.
  • Evaluate and select financial arrangements which are best for you as a consumer.

Course Outline

  • Unit 1: Simple Interest
  • Unit 2: Compound Interest
  • Unit 3: Simple Annuities
  • Unit 4: General Annuities
  • Unit 5: Debt Reduction, Sinking Funds, Capitalization, and Wasting Assets
  • Unit 6: Stocks and Bonds

Maximum Completion

30 weeks

Required Text and Materials

NOTE: Students will receive custom reprinted texts for both textbooks and listed below are two ISBN's for each textbook. The first is the textbook ISBN, the second ISBN is the Custom Edition ISBN. All textbook content is the same.

  1. Hummelbrunner, S. A., & Coombs, K. S. Contemporary Business Mathematics with Canadian Applications with MyMathLab. 9th edition. Toronto, Ontario: Pearson Canada Inc, 2012.
    Type: Textbook. ISBN: 9780132490269 / Custom Reprint ISBN: 132318306X

The textbook is accompanied by the Student Solutions Manual, which provides full solutions to the odd-numbered questions from the exercises and self-tests in the textbook:

  1. Hummelbrunner, S. A., & Coombs, K. S. Student's Solutions Manual for Contemporary Business Mathematics with Canadian Applications. 9th edition. Toronto, Ontario: Pearson Canada Inc, 2012.
    Type: Textbook. ISBN: 9780132165228 / Custom Reprint ISBN: 1269986546

Additional Requirements

Students will need a calculator with these functions: power, reciprocal, natural logarithmic, memory. The textbook refers to a Texas Instruments TI BAII Plus calculator.

Open Learning Faculty Member Information

An Open Learning Faculty member is available to assist students. Primary communication is by phone if taking the print version of the course and through the Learning Environment's "Mail" tool if taking the web version. Students will receive the necessary contact information at start course.

Assessment

The final grade for the course is based on six assignments and the invigilated final exam. In order to successfully complete this course, students must obtain at least 50% on the final mandatory examination and 50% in the course overall.

Assignment 1 10%
Assignment 2 10%
Assignment 3 10%
Assignment 4 10%
Assignment 5 10%
Assignment 6 10%
Final exam 40%
Total 100%