Book Description

Business Mathematics, Third Edition provides the step-by-step explanation of principles, practical aspects, and importance of business mathematics. This edition is organized into six sections encompassing 14 chapters that cover related topics of the metric system, no-fault insurance, individual retirement plans, charge account plans, home mortgages, and NOW accounts. Section 1 gives a thorough review of the fundamental processes, while Section 2 deals with buying and selling, the first factors considered in calculating a firm's profit or loss. Section 3 discusses the operating expenses that reduce the profit or increase the loss from buying and selling activities, and the actual calculation of net profit or loss. Sections 4 and 5 consider the principles of interest as a form of additional income or expense, as well as the investment in stocks, bonds, mutual funds, and other areas as still another source of income or expense. Section 6 describes the procedures for summarizing and analyzing data. The review part at the end of each section lists the important terms and reinforces the major principles learned in the unit. The summary problems in the Unit Review are intended as self-tests and should serve as effective review for examinations. This book will be of great value to business mathematicians, economists, and the general public who are interested in investments.