MBF101 - Mathematics of Business and Finance

Outline info
Semester
School
Last revision date 2024-09-23 01:19:54.591
Last review date 2024-10-07 00:15:03.033


Subject Title
Mathematics of Business and Finance

Subject Description
This course provides students with the fundamentals of mathematics of business and finance.  Following the introduction of concepts of present and percent change, simple and compound interest rates will be discussed.  Compound interest rates will be applied to the study of annuities.  Students will also learn important models of business mathematics, such as currency conversion, trade discounts, markups and markdowns, break-even and cost-volume-profit analysis.

Credit Status
One credit.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

  1. Determine the type of business mathematics and finance problem by analyzing terminology.
     
  2. Select a problem-solving strategy, formula(s) and computational tools to solve business problems.
     
  3. Apply formula(s), computational tools and problem-solving techniques to solve business and finance mathematics problems.
     
  4. Calculate the solution to business and finance mathematics problems, including percent, simple and compound interest, annuities and their applications.
     
  5. Explain the solution in the context of the problem.

Essential Employability Skills
    •  Execute mathematical operations accurately.

    •  Apply a systematic approach to solve problems.

    •  Use a variety of thinking skills to anticipate and solve problems.

    •  Locate, select, organize, and document information using appropriate technology and information systems.

    •  Analyze, evaluate, and apply relevant information from a variety of sources.

    •  Show respect for diverse opinions, values, belief systems, and contributions of others.

    •  Interact with others in groups or teams in ways that contribute to effective working relationships and the achievement of goals.

    •  Manage the use of time and other resources to complete projects.

    •  Take responsibility for one's own actions, decisions, and consequences.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecapolytechnic.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecapolytechnic.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.

Camera Use and Recordings - Synchronous (Live) Classes
Synchronous (live) classes may be delivered in person, in a Flexible Learning space, or online through a Seneca web conferencing platform such as MS Teams or Zoom. Flexible Learning spaces are equipped with cameras, microphones, monitors and speakers that capture and stream instructor and student interactions, providing an in-person experience for students choosing to study online.

Students joining a live class online may be required to have a working camera in order to participate, or for certain activities (e.g. group work, assessments), and high-speed broadband access (e.g. Cable, DSL) is highly recommended. In the event students encounter circumstances that impact their ability to join the platform with their camera on, they should reach out to the professor to discuss. Live classes may be recorded and made available to students to support access to course content and promote student learning and success.

By attending live classes, students are consenting to the collection and use of their personal information for the purposes of administering the class and associated coursework. To learn more about Seneca's privacy practices, visit Privacy Notice.

Prerequisite(s)
No required prerequisite, but students should have Grade XII English and Mathematics.

Topic Outline

  • Percent and Percent Change
  • Simple Interest: Calculating Principal, Rate, Time, Maturity Value
  • Compound Interest: Future Value and Present Value
  • Equivalent Payments under compound rates
  • Compound Interest: Calculating periodic rate and nominal rate
  • Compound Interest: Calculating term
  • Compound Interest: Calculating Effective Rate and Equivalent Rate
  • Future Value and Present Value of ordinary simple and ordinary general annuities
  • Future Value and Present Value of simple annuity due
  • Future Value and Present Value of general annuity due
  • Calculating periodic payment for annuities
  • Calculating number of payments and time period for annuities
  • Trade Discounts
  • Exchange Rates
  • Payment Terms and Cash Discounts
  • Markup
  • Markdown
  • Applications of Markup and Markdown
  • Break-even Analysis
  • Cost-Volume-Profit Analysis

Mode of Instruction
In-Class/Online Virtual Classroom
A combination of teaching methods will be utilized which may include lectures, case studies, discussions, group and individual work.
 
Online Self-directed
This subject is delivered online. This may involve the use of digital materials and/or a text, group discussions, interaction with your instructor and online activities.

Blended / Hybrid
Delivery is mixed, blending face-to-face instructions and facilitating out of classroom experiences, group and/or online instructions.

Prescribed Texts

In-class/Online Virtual Classroom, Online, and Blended (Hybrid):
Title:        Mathematics of Business and Finance (text and access to the Online Lessons and Online Labs)
Edition:    4th
Author:     Daisley, Kugathasan, Huysmans
Publisher:  Vretta
ISBN:       978-1-927737-54-5

Texts may be supplied by the Seneca Bookstore. Contact the Bookstore for more information.

Self-directed:
The eTextbook is included in the price of the course for OntarioLearn students taking the Online Asynchronous sections.



To find out the cost of books and learning material go here.

Any courses not listed on the bookstore webpage do not require any resources for purchase. All resources will be provided by your instructor.

Reference Material
For guides on research and citations: https://library.senecapolytechnic.ca/

Required Supplies

  • All students require a non-programmable calculator.
  • Internet access

Student Progression and Promotion Policy

http://www.senecapolytechnic.ca/about/policies/student-progression-and-promotion-policy.html

Grading Policyhttp://www.senecapolytechnic.ca/about/policies/grading-policy.html

A+ 90%  to  100%
A 80%  to  89%
B+ 75%  to  79%
B 70%  to  74%
C+ 65%  to  69%
C 60%  to  64%
D+ 55%  to  59%
D 50%  to  54%
F 0%    to  49% (Not a Pass)
OR
EXC Excellent
SAT Satisfactory
UNSAT Unsatisfactory

For further information, see a copy of the Academic Policy, available online (http://www.senecapolytechnic.ca/about/policies/academics-and-student-services.html) or at Seneca's Registrar's Offices. (https://www.senecapolytechnic.ca/registrar.html).


Modes of Evaluation
In-Class/Online Virtual Classroom and Online Self-directed:

Online Labs 15%
Quiz 10%   
Test 1 (Simple and compound rates) 25%
Test 2 (Annuities) 25%
Test 3 (Mathematics of Business) 25%








In-class and Blended (Hybrid) delivery:
Online MidTerm 15%
Discussion Assignments 5 @ 3% 15%   
Individual Assignments 5 @ 6% 30%
Final Exam 40%







Assignments are due on the dates specified. Should extenuating circumstances arise, contact your instructor prior to the assignment due date so that an appropriate course of action can be established. Late assignments may be subject to a penalty and may not be accepted after a set period of time.
 
In cases of cheating or plagiarism, the College Academic Policy will prevail. Please ensure that all assignments and reports are properly documented.
 
Students are referred to the following website for Seneca College Library style guides, Academic Honesty Policy and Copyright guidelines: https://library.senecapolytechnic.ca/
 
Dates for evaluations are specified in the weekly schedule addendum to this outline. The evaluation process may include, but is not limited to, tests, exams, assignments or presentations. Supporting documentation may be requested for absences or missed submissions due to medical or other reasons. Faculty must be notified immediately in the event of a missed evaluation. Upon acceptance of the absence, and applicable documentation, the weighting of the missed deliverable will normally be applied to the final exam. 

Please retain this course outline document for future educational and/or employment use.

Approved by: John Wong1, Danielle Mercier