FINANCIAL MATH



FINANCIAL MATH

Code: B415 Full Year (11-12) (1 credit)

Prerequisite: Two years of Math

(rank weight 1.00)

Note: The final exam will be given in two parts. Part 1 is given at the end of the 2nd quarter and Part 2 is given in June. Each part counts for 50% of the final exam grade. Students MUST take both parts. This course satisfies a third math credit after the Math A Regents Examination.

Areas of Study Include:

• Gross Income

- Straight-Time Pay

- Overtime Pay

- Weekly Time-Card

- Piecework

- Salary

- Commission

- Graduated Commission

• Net Income

- Federal Income Tax

- State Income Tax

- Graduated State Income Tax

- Social Security Tax

- Group Health Insurance

- Statement of Earnings

• Recordkeeping

- Average Monthly Expenditure

- Preparing a Budget Sheet

- Using a Budget

• Checking Accounts

- Deposits

- Check-Writing Process

- Check Registers

- Bank Statements

- Reconciling the Bank Statement

- Online Banking

• Savings Accounts

- Deposits

- Withdrawals

- Account Statements

- Simple Interest

- Compound Interest/Tables

- Daily Compounding

- Annuities

• Cash Purchases

- Sales Tax

- Total Purchase Price

- Unit Pricing

- Comparison Shopping

- Coupons and Rebates

- Markdown

- Sale Price

• Charge Accounts and Credit Cards

- Account Statements

- Finance Charge – Unpaid-Balance Method

- Finance Charge – Average-Daily Balance (No New Purchases Included)

- Finance Charge – Average-Daily Balance (New Purchases Included)

• Loans

- Single – Payment Loans

- Installment Loans

- Installment Loans – Allocation of Monthly Payment

- Paying Off Simple Interest Installment Loans

- Determining the APR

- Refund of Finance charge

• Vehicle Transportation

- Purchasing A New Vehicle

- Dealer’s Cost

- Purchasing a Used Vehicle

- Vehicle Insurance

- Operating and Maintaining an Automobile

- Leasing an Automobile

- Renting an Automobile

• Housing Costs

- Mortgage Loans

- Monthly Payment and Total Interest

- Closing Costs

- Allocation of the Monthly Payment

- Real Estate Taxes

- Homeowner’s Insurance

- Homeowner’s Insurance Premium

- Other Housing Costs

- Renting or Owning a Home

• Insurance

- Health Insurance Premiums

- Health Insurance Benefits

- Term Life Insurance

- Other Types of Life Insurance

• Investments

- Certificates of Deposits

- Annual Percentage Yield

- Buying and Selling Stocks

- Stock Dividends

- Mutual Funds

- Bonds

- Real Estate

- Retirement Investments

• Personnel

- Hiring New Employees

- Administering Wages and Salaries

- Employee Benefits

- Disability Insurance

- Travel Expenses

- Employee Training

• Purchasing and Inventory

- Trade Discounts

- Trade Discounts – Compliment Method

- Chain Discounts

- Cash Discounts-Ordinary Dating

- Cash Discounts-EOM Dating

- Inventory

- Valuing Inventory

- Carrying Inventory

• Sales

- Markup

- Markup Rate

- Net Profit and Net-Profit Rate

- Selling Price-Markup Based on Selling Price

- Markup Rate Based on Cost

- Selling Price-Markup Based on Cost

- Markdown

• Marketing

- Opinion Surveys

- Sales Potential

- Market Share

- Sales Projections

- Newspaper Advertising Costs

- Television Advertising Costs

- Pricing

• Services

- Building Rental

- Maintenance and Improvement

- Equipment Rental

- Utilities Costs-Telephone

- Utilities Costs-Electricity

- Professional Services

• Accounting

- Payroll Register

- Business Expenses

- Manufacturing Cost and Time Study

- Break-Even Analysis

- Depreciation

- Assets, Liabilities, and Equity

- Balance Sheet

- Cost of Goods Sold

- Income Statement

• Financial Management

- Corporate Income Taxes

- Issuing Stocks and Bonds

- Borrowing

- Treasury Bills

- Inflation

- Gross Domestic Product

- Consumer Price Index

Assessment: District-wide final exam taken as Part I in January and Part II in June.

Textbook: Mathematics For Business and Personal Finance, published by

Glencoe, © 2010

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