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Seventh Edition

by Walter E. Williams and James H. Reed

Fundamentals of Business Mathematics is geared towards the first-year college student and provides basic skills in business mathematics. As in previous editions, the philosophy of the book is still “learning by doing,” and the method is the successful explanation-example-exercise format. The book covers traditional topics in business mathematics along with a wide selection of related topics such as taxes, insurance, statistics, and the metric system. The text is designed to be flexible for the instructor. The wealth of topics and the text design permits the instructor to tailor his or her course for any term length and level of student maturity.

Formats: Textbook, Study Guide

Product ISBN
Textbook 978-0-918091-23-9
Textbook + Study Guide 978-1-941552-04-9
Study Guide 978-1-946158-59-8

1. Chapter 1: Review of Arithmetic
1. 1.1 The Arithmetic of Whole Numbers
2. 1.2 Introduction to Fractions
3. 1.3 The Arithmetic of Fractions
4. 1.4 Decimal Fractions and Rounding
5. 1.5 Calculator Basics (Optional)
2. Chapter 2: Formulas, Ratios, and Percent
1. 2.1 Formulas
2. 2.2 The Meaning of Percent
3. 2.3 Base and Percentage
4. 2.4 Variations of the Percentage Formula
3. Chapter 3: Commercial Discounts
2. 3.2 Chain Discounts
3. 3.3 Quantity Discounts
4. 3.4 Cash Discounts: Ordinary Dating
5. 3.5 Cash Discounts: Other Dating Systems
4. Chapter 4: Pricing and Inventory Control
1. 4.1 Markon Based on Cost Price
2. 4.2 Markon Based on Selling Price
3. 4.3 Markdown and Extent of Markdown
4. 4.4 Maintaining Markon
5. 4.5 Inventory Valuation
5. Chapter 5: Payrolls and Banking
1. 5.1 Gross Earnings: Salary and Wages
2. 5.2 Gross Earnings: Commissions
3. 5.3 Overtime
4. 5.4 Net Earnings
5. 5.5 Employer Contributions, Records, and Reports
6. 5.6 Bank Statement Reconciliation
6. Chapter 6: Taxes
1. 6.1 Sales and Excise Taxes
2. 6.2 Property Taxes
3. 6.3 Federal Income Tax
7. Chapter 7: Simple Interest
1. 7.1 Simple Interest
2. 7.2 Exact Time and Ordinary Time
3. 7.3 Exact Interest and Ordinary Interest
4. 7.4 Maturity Value and Present Value
8. Chapter 8: Compound Interest
1. 8.1 Compound Interest Formula
2. 8.2 Present Value
3. 8.3 Daily and Continuous Compounding
4. 8.4 Nominal Rate versus Effective Rate
9. Chapter 9: Simple Discount
1. 9.1 The Simple Discount Formula
2. 9.2 Other Discount Formulas
3. 9.3 Discounting Interest-bearing Notes
4. 9.4 Simple Interest versus Simple Discount
10. Chapter 10: Consumer Credit
1. 10.1 Distribution of Partial Payments
2. 10.2 Open-end Credit
3. 10.3 Installment Plans
4. 10.4 The Annual Percentage Rate
5. 10.5 The Rule of 78
11. Chapter 11: Annuities
1. 11.1 Ordinary Annuities
2. 11.2 Nominal Rate
3. 11.3 Present Value of an Ordinary Annuity
4. 11.4 Annuities Due
5. 11.5 Present Value of an Annuity Due
12. Chapter 12: Sinking Funds and Amortization
1. 12.1 Sinking Funds
2. 12.2 Amortization
13. Chapter 13: Securities
1. 13.1 Corporate Stock
2. 13.2 Transactions in Stocks
3. 13.3 Valuation Indices: Stocks
4. 13.4 Bonds
5. 13.5 Valuation Indices: Bonds
6. 13.6 Mutual Funds
14. Chapter 14: Topics in Accounting
1. 14.1 Financial Statements
2. 14.2 Financial Ratios
3. 14.3 Cash Budgets
4. 14.4 Depreciation: MACRS
5. 14.5 Depreciation: Other Methods
6. 14.6 Distribution of Overhead and Profits and Losses
15. Chapter 15: Insurance
1. 15.1 Life Insurance
3. 15.3 Nonforfeiture Values and Settlement Options
4. 15.4 Group Insurance
5. 15.5 Fire Insurance
6. 15.6 Automobile Insurance
16. Chapter 16: Statistics and Graphs
1. 16.1 Data Organization and Graphs
2. 16.2 Measures of Location
3. 16.3 Frequency Distributions and Measures of Location
4. 16.4 Measures of Variation and the Normal Distribution
5. 16.5 Index Numbers
17. Chapter 17: The Metric System
1. 17.1 Metric Units of Length and Area
2. 17.2 Metric Units of Capacity and Weight
3. 17.3 Metric Units versus English Units