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    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 Integrated Algebra 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