MATH 1091: Business Mathematics
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.
Learning outcomes
- 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 topics
- 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
Required text and materials
The following materials are required for this course:
- Hummelbrunner, S. A., Halliday, K., & Hassanlou, A. R. (2020). Contemporary business mathematics with Canadian applications plus MyLab Mathematics with Pearson etext – Access card package (12th ed.). Pearson Canada. Type: Textbook, ISBN: 9780135405871
Additional requirements
Students will need a calculator with these financial functions: power, reciprocal, natural logarithmic, memory.
Assessments
Please be aware that should your course have a final exam, you are responsible for the fee to the online proctoring service, ProctorU, or to the in-person approved Testing Centre. Please contact exams@tru.ca with any questions about this.
To successfully complete this course, students must achieve 50% or higher on the overall course and 50% or higher on the final mandatory examination.
Note: The final exam for this course is only available as a paper exam and must be taken in person at an approved Testing Centre. Please email exams@tru.ca with any questions.
| Assignment 1: Simple Interest | 10% |
| Assignment 2 : Compound Interest | 10% |
| Assignment 3: Simple Annuities | 10% |
| Assignment 4: General Annuities | 10% |
| Assignment 5: Debt Reduction, Sinking Funds, Capitalization, and Wasting Assets | 10% |
| Assignment 6: Stocks and Bonds | 10% |
| Final Exam (mandatory) | 40% |
| Total | 100% |
Open Learning Faculty Member Information
An Open Learning Faculty Member is available to assist students. Students will receive the necessary contact information at the start of the course.
