Business Math using Excel
prepares users for the business world by incorporating math concepts using two approaches.
The first approach uses the traditional method of calculating. The second approach teaches
those same concepts using the functions of Excel. Today's office workers are often
challenged with Excel worksheets that include complex calculations that once were done
using desktop calculators. Business Math Using Excel helps users create formulas and use
the functions of Excel to make it the powerful application tool it is meant to be and to
develop a high level of math skill.
Benefits:
A Student CD, included with
the book, contains the Excel files to be used in the practices and end-of-section and
end-of-chapter exercises. The files provide a framework for solving many of the learning
exercises within the text.
Math and Surfing the Net,
included within each chapter, is an Internet feature to enrich learning with real-world
applications. Users are asked to report on math-related topics researched on the Internet.
Math and Workplace Skills
Project, located at the end of each chapter, bridges the gap between the classroom and the
workplace. These projects offer an opportunity to develop soft skills (as outlined in the
SCANS report) with math-related activities.
Abundant Exercises allow
each chapter to end with different types of questions, exercises, and problems to help
fully explain all chapter themes and concepts.
CONTENTS
CHAPTER 1. BASIC MATH FUNCTIONS
1.1 NUMBERS Objectives; Identify each position of the decimal number system; Write
numbers or amounts in word forms; Round numbers to approximate an answer; Round numbers;
Use Excel to round numbers; Exercises
1.2 ADDITION Objectives; Identify terms used with addition; Align numbers correctly for
adding; Align decimal points in addition; Add mentally; Add by tens mentally; Add
horizontally; Use Excel to solve problems involving addition; Exercises
1.3 SUBTRACTION Objectives; Identify terms used with subtraction; Subtract vertically;
Check subtraction by addition; Regroup in subtraction; Solve problems with zeros in
regrouping in subtraction; Subtract horizontally; Express negative numbers; Add negative
numbers; Combine addition and subtraction; Use Excel to solve problems involving
subtraction; Exercises
1.4 MULTIPLICATION Objectives; Identify terms used with multiplication; Multiply
correctly; Multiply with decimals; Solve problems with zeros in multiplication; Check
multiplication; Accumulate products; Use Excel to solve problems involving multiplication;
Exercises
1.5 DIVISION Objectives; Identify terms used with division; Divide whole numbers;
Divide numbers that have remainders; Divide numbers with decimals; Check division by
multiplying; Check division by estimation; Use Excel to solve problems involving division;
Exercises
1.6 BASIC MATH OPERATIONS AND EXCEL Objective; Combine basic math operations in Excel;
Exercises
CHAPTER REVIEW Key Terms; Concepts and Examples; Exercises; Review Quiz
FEATURES Math and Surfing the Net; Math Alert; Math and Workplace Skills Project;
Critical Thinking
CHAPTER 2. FRACTIONS
2.1 FRACTIONS AND MIXED NUMBERS Objectives; Identify terms used with fractions;
Distinguish between fractions and mixed numbers; Convert improper fractions to whole
numbers; Convert improper fractions to mixed numbers; Convert mixed numbers to improper
fractions; Reduce fractions to lowest terms; Raise fractions to higher terms; Convert
fractions to decimals; Convert decimals to fractions; Use Excel to enter fractions and
mixed numbers; Exercises
2.2 ADD AND SUBTRACT FRACTIONS AND MIXED NUMBERS Objectives; Identify terms used with
adding and subtracting fractions; Add and subtract like fractions; Find the least common
denominator; Add and subtract unlike fractions; Add fractions and mixed numbers; Subtract
fractions and mixed numbers; Use Excel to add and subtract fractions and mixed numbers;
Exercises
2.3 MULTIPLY AND DIVIDE FRACTIONS AND MIXED NUMBERS Objectives; Multiply common
fractions; Use cancellation; Multiply whole numbers, fractions, and mixed numbers; Divide
fractions; Divide whole numbers, fractions, and mixed numbers; Use Excel to multiply and
divide numbers and fractions; Exercises
CHAPTER REVIEW Key Terms; Concepts and Examples; Exercises; Review Quiz
FEATURES Math and Surfing the Net; Math Alert; Math and Workplace Skills Project;
Critical Thinking
CHAPTER 3. PERCENT
3.1 INTRODUCTION TO PERCENTS Objectives; Identify terms used with percents; Write a
percent as a decimal; Write a decimal as a percent; Write a percent as a fraction;
Write a common fraction as a percent ; Use Excel to format a percent, decimal, or
fraction; Exercises
3.2 PART, RATE, AND BASE Objectives; Identify the terms part, rate, and base; Find the
part; Find the rate; Find the base; Identify the elements of percent problems; Use
Excel to find the part, rate, and base; Exercises
3.3 PERCENT OF INCREASE AND DECREASE Objectives; Identify terms used with percent of
increase and percent of decrease; Find the actual increase; Find the percent of
increase; Find the actual increase and the total when the percent is given; Find the
percent of decrease; Find the actual decrease and the total when the percent is given;
Determine percentage distribution; Use Excel to calculate increase and decrease and
percentage distribution; Exercises
CHAPTER REVIEW Key Terms; Concepts and Examples; Exercises; Review Quiz
FEATURES Math and Surfing the Net; Math Alert; Math and Workplace Skills Project;
Critical Thinking
CHAPTER 4. BANK SERVICES
4.1 THE CHECKING ACCOUNT Objectives; Identify terms used with checking accounts;
Identify checking account services; Distinguish among the types of checking accounts;
Maintain a checkbook and a check register; Use Excel to complete a deposit slip and
a check register; Exercises
4.2 BANK STATEMENT RECONCILIATION Objectives; Understand why a checking account must be
reconciled; Interpret a bank statement; Reconcile a bank statement with a check register;
Use Excel to reconcile a bank statement; Exercises
CHAPTER REVIEW Key Terms; Concepts and Examples; Exercises; Review Quiz
FEATURES Math and Surfing the Net; Math Alert; Math and Workplace Skills Project;
Critical Thinking
CHAPTER 5. PAYROLL
5.1 GROSS EARNINGS Objectives; Identify terms used for computing gross earnings;
Calculate gross pay for common pay periods; Calculate gross earnings for straight time,
overtime, and double time; Use Excel to calculate straight time, overtime, and double time;
Exercises
5.2 GROSS PAY FOR VARIOUS COMPENSATION METHODS Objectives; Identify terms used for
various compensation methods; Calculate compensation by salary; Calculate compensation by
salary plus commission; Calculate compensation by piecework; Use Excel to calculate
various methods of compensation; Exercises
5.3 PAYROLL DEDUCTIONS Objectives; Identify terms used for payroll deductions;
Calculate social security and Medicare; Find the federal income tax using the wage bracket
method; Find the federal income tax using the percentage method; Find the state income tax
using the state income tax rate; Find the amount paid to Internal Revenue Service (IRS)
each payroll tax period; Use Excel to calculate social security, Medicare, federal income
tax, and state income tax.; Exercises
5.4 EMPLOYEE'S EARNINGS RECORD AND PAYROLL REGISTER Objectives; Create an employee's
earnings record; Create a payroll register; Use Excel to create a payroll register;
Exercises
CHAPTER REVIEW Key Terms; Concepts and Examples; Exercises; Review Quiz
FEATURES Math and Surfing the Net; Math Alert; Math and Workplace Skills Project;
Critical Thinking
CHAPTER 6. TAXES AND INSURANCE
6.1 PROPERTY TAX AND PROPERTY TAX RATE Objectives; Identify terms used with property
tax and property tax rates; Calculate the tax levied on property based on the assessed
value; Calculate the tax rate levied on property based on the assessed value; Use Excel to
calculate property taxes; Exercises
6.2 STATE UNEMPLOYMENT TAX, FEDERAL UNEMPLOYMENT TAX, AND FEDERAL INCOME TAX Objectives;
Identify terms used with state unemployment tax (SUTA), federal unemployment tax (FUTA),
and federal income tax; Calculate state unemployment tax; Calculate federal unemployment
tax; Calculate federal income tax; Use Excel to calculate SUTA, FUTA, and federal income
tax; Exercises
6.3 HEALTH, AUTO, LIFE, AND PROPERTY INSURANCE Objectives; Identify terms used with
insurance; Determine the premiums for health insurance; Determine the premiums for
automobile insurance; Determine the premiums for life insurance; Determine the premiums
for property insurance; Calculate the payment when a property insurance policy contains an
80% coinsurance clause; Use Excel to calculate insurance premiums; Exercises
CHAPTER REVIEW Key Terms; Concepts and Examples; Exercises; Review Quiz
FEATURES Math and Surfing the Net; Math Alert; Math and Workplace Skills Project;
Critical Thinking
CHAPTER 7. PURCHASING MERCHANDISE
7.1 THE PURCHASING CYCLE Objectives; Describe the purchasing cycle; Identify terms used
with purchasing; Exercises
7.2 CASH DISCOUNTS Objectives; Identify terms used with cash discounts; Calculate cash
discounts; Use the complement method; Find the net amount after merchandise has been
returned; Find the net amount due after shipping and insurance charges; Calculate amount
of credit for partial payments; Use Excel to calculate the net amount due; Exercises
7.3 TRADE DISCOUNTS Objectives; Find the net amount due after a single trade discount;
Calculate the net amount due after trade and cash discounts and shipping charges; Use
Excel to calculate the net amount due; Exercises
7.4 SERIES DISCOUNTS Objectives; Find the net price after a series discount; Find the
single discount equivalent rate; Use Excel to calculate series discounts. 331 Exercises
7.5 SALES TAX Objectives; Calculate sales tax; Use Excel to calculate sales tax;
Exercises
CHAPTER REVIEW Key Terms; Concepts and Examples; Exercises; Review Quiz
FEATURES Math and Surfing the Net; Math Alert; Math and Workplace Skills Project;
Critical Thinking
CHAPTER 8 MARKUP AND MARKDOWN
8.1 CONCEPTS USED IN PRICING MERCHANDISE Objectives; Identify terms used with pricing
merchandise; Distinguish among basic pricing variables; Apply base, rate, and part
formulas to pricing; Exercises
8.2 SELLING PRICE Objectives; Calculate markup based on cost to compute selling price;
Calculate selling price when cost and markup rate based on selling price are known; Use
Excel to calculate markup and selling price; Exercises
8.3 MARKUP RATE Objectives; Calculate markup rate based on cost; Calculate markup rate
based on selling price; Use Excel to calculate markup rate; Exercises
8.4 MARKDOWN Objectives; Determine markdown sale price; Calculate markdown rate; Use
Excel to calculate markdown rate; Exercises
CHAPTER REVIEW Key Terms; Concepts and Examples; Exercises; Review Quiz
FEATURES Math and Surfing the Net; Math Alert; Math and Workplace Skills Project;
Critical Thinking
CHAPTER 9. INTEREST
9.1 SIMPLE INTEREST Objectives; Identify terms used for calculating simple interest;
Calculate simple interest; Calculate ordinary interest; Calculate exact - interest;
Compare ordinary interest and exact interest; Determine maturity value of a loan;
Calculate due date; Calculate principal, rate, and time from simple interest formula; Use
Excel to calculate interest, maturity value, number of days, and due date; Exercises
9.2 NOTES AND INTEREST VARIABLES Objectives; Identify terms used with promissory notes;
Discount notes; Use Excel to discount a note; Exercises
9.3 COMPOUND INTEREST Objectives; Identify terms used for compounding interest;
Calculate compound interest; Calculate compound interest semiannually; Calculate compound
interest quarterly; Use compound interest tables; Calculate present value; Use Excel to
calculate compound amount and compound interest; Exercises
CHAPTER REVIEW Key Terms; Concepts and Examples; Exercises; Review Quiz
FEATURES Math and Surfing the Net ; Math Alert; Math and Workplace Skills Project;
Critical Thinking
CHAPTER 10. CONSUMER CREDIT AND MORTGAGES
10.1 OPEN-END CREDIT Objectives; Identify terms used with open-end credit; Calculate
finance charge using previous balance; Calculate new balance using average daily balance;
Use Excel to calculate finance charge and new balance; Exercises
10.2 CLOSED-END CREDIT Objectives; Identify terms used with closed-end credit;
Calculate installment price and finance charge; Calculate installment payment; Calculate
interest rebate; Calculate loan payoff; Use Excel to calculate the cost of an installment
loan; Exercises
10.3 MORTGAGE LOANS Objectives; Identify terms used with mortgage loans; Determine
monthly mortgage payment; Prepare an amortization schedule; Use Excel to determine monthly
payment and to prepare an amortization schedule; Exercises
CHAPTER REVIEW Key Terms; Concepts and Examples; Exercises; Review Quiz
FEATURES Math and Surfing the Net; Math Alert; Math and Workplace Skills Project;
Critical Thinking
CHAPTER 11. ANNUITIES, STOCKS, AND BONDS
11.1 ANNUITIES Objectives; Identify terms used with annuities; Identify the types and
classification of annuities; Calculate the future value of an ordinary annuity; Calculate
the future value of an annuity due; Calculate the present value of an ordinary annuity;
Set up a sinking fund table; Use Excel to calculate annuities; Exercises
11.2 STOCKS Objectives; Identify terms used with stocks; Calculate dividends; Calculate
earnings per share; Read a stock table; Calculate the cost of shares, amount of
commission, and the total cost of a stock transaction; Calculate current stock yield;
Calculate price-earnings (PE) ratio; Use Excel to calculate and track stock investment;
Exercises
11.3 BONDS Objectives; Identify terms used with bonds; Read a bond table; Calculate the
market value and the annual interest earned on a bond; Calculate the annual yield on a
bond; Use Excel with bond investments; Exercises
CHAPTER REVIEW Key Terms; Concepts and Examples; Exercises; Review Quiz
FEATURES Math and Surfing the Net; Math Alert; Math and Workplace Skills Project;
Critical Thinking
CHAPTER 12. DEPRECIATION
12.1 STRAIGHT-LINE DEPRECIATION Objectives; Identify terms used with straight-line
depreciation; Use straight-line depreciation to find the amount of depreciation each year;
Use straight-line depreciation to find the book value of an asset; Use Excel to prepare a
straight-line depreciation schedule; Exercises
12.2 DOUBLE-DECLINING-BALANCE METHOD Objectives; Identify terms used with the
double-declining-balance method; Calculate the double-declining-balance rate, annual
depreciation, and accumulated depreciation using the double-declining-balance method; Use
Excel to prepare a depreciation schedule using the double-declining-balance method;
Exercises
12.3 SUM-OF-THE-YEAR'S-DIGITS METHOD Objectives; Use the sum-of-the-year's-digits
method to find the amount of depreciation each year; Use Excel to prepare a depreciation
schedule using the sum-of-the-year's-digits method; Exercises
12.4 MODIFIED ACCELERATED COST RECOVERY SYSTEM (MACRS) Objectives; Identify terms used
with the Modified Accelerated Cost Recovery System (MACRS) method of depreciation; Use
Modified Accelerated Cost Recovery System (MACRS) method of depreciation to find the
amount of depreciation each year; Use Excel to prepare a depreciation schedule using the
Modified Accelerated Cost Recovery System (MACRS) method; Exercises
CHAPTER REVIEW Key Terms; Concepts and Examples; Exercises; Review Quiz
FEATURES Math and Surfing the Net; Math Alert; Math and Workplace Skills Project;
Critical Thinking
CHAPTER 13. FINANCIAL STATEMENTS
13.1 INCOME STATEMENT Objectives; Identify terms used with income statements; Create an
income statement for a service business; Create an income statement for a merchandise
business; Create a vertical analysis of an income statement; Use Excel to create an income
statement; Exercises
13.2 BALANCE SHEET Objectives; Identify terms used with balance sheets; Create a
balance sheet; Create a vertical analysis of a balance sheet; Create a horizontal analysis
of a balance sheet; Use Excel to create a balance sheet; Exercises
13.3 FINANCIAL RATIOS Objectives; Identify terms used with ratios; Find the current
ratio; Find the acid test ratio; Find the return on investment; Use Excel to calculate
ratios; Exercises
CHAPTER REVIEW Key Terms; Concepts and Examples; Exercises; Review Quiz
FEATURES Math and Surfing the Net; Math Alert; Math and Workplace Skills Project;
Critical Thinking
CHAPTER 14. BUSINESS STATISTICS
14.1 MEASURES OF CENTRAL TENDENCY: MEAN, MEDIAN, AND MODE Objectives; Identify terms
used with calculating the mean, median, and mode; Calculate the mean of a set of data;
Calculate the median of a set of data; Calculate the mode of a set of data; Use Excel to
calculate the mean, median, and mode; Exercises
14.2 FREQUENCY DISTRIBUTIONS AND GRAPHS Objectives; Identify terms used with frequency
distribution tables and graphs; Create a frequency distribution table; Use Excel to create
a frequency distribution table; Create a line graph; Use Excel to create a line graph;
Create a bar graph; Use Excel to create a bar graph; Create a circle (pie) graph; Use
Excel to create a circle (pie) graph; Exercises
14.3 MEASURES OF DISPERSION Objectives; Identify terms used with measures of dispersion;
Calculate the range; Calculate the standard deviation; Use Excel to calculate the range;
Use Excel to calculate the standard deviation; Exercises
CHAPTER REVIEW Key Terms; Concepts and Examples; Exercises; Review Quiz
FEATURES Math and Surfing the Net; Math Alert; Math and Workplace Skills Project;
Critical Thinking; Answers to Selected Exercises
Index
685 pages + CDROM, Paperback