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and Code MATH1020

Total Hours 45

Credits 3

Corequisite(s)

Course Description

The purpose of the course is to provide the student with a mathematical basis for personal and business financial decisions.

Topics include: simple interest, simple discount, compound interest, annuities and their many applications including

amortization, sinking funds, Canadian mortgages and refinancing of loans. A Texas Instrument BAII “Plus” financial

calculator is required.

Course Outcomes

1. Solve business problems involving simple interest and promissory note discounting.

4. Solve business problems involving general annuities especially as related to Canadian mortgages. Solve problems

involving amortization and sinking funds including the construction of schedules.

COURSE OUTLINE 2

and Code MATH1020

Successful completion of the following units will enable the student to: Text Business Mathematics in Canada

5th Ed.

1.0 Simple Interest

1.1 Solve for any one of interest, principal, time or rate given the other Chapter 6

three quantities.

1.2 Determine the time period using the BA2+ calculator.

1.3 Solve for maturity value, principal, rate or time given three other

quantities.

1.4 Present details of the amount and timing of payments in a time

diagram.

1.5 Calculate the equivalent value on any date of a single payment or

payment stream.

1.6 Calculate the size of equal loan payments or a final loan payment.

2.1 Calculate the interest paid on savings accounts and GIC’s.

2.2 State the Valuation Principle and use it to calculate the fair market

value of an investment providing specified future cash flows.

2.3 Calculate the market price and rate of return on commercial paper and

Treasury Bills.

2.4 Calculate the proceeds of interest and non-interest bearing promissory Test One

notes.

3.1 Calculate the future value and present value in compound interest

applications.

3.2 Calculate the maturity value of compound interest GIC’s.

3.3 Calculate the price of strip bonds.

3.4 Calculate the e quivalent payment on any date for one or more

payments on other dates.

3.5 Calculate the economic value of a payment stream.

4.1 Calculate the periodic rate of interest.

4.2 Calculate the number of compounding periods.

4.3 Calculate effective and equivalent interest rates given a nominal rate

of interest.

4.4 Calculate annualized rates of return and growth. Test Two

COURSE OUTLINE 3

and Code MATH1020

5.1 Define and distinguish between ordinary simple annuities and

ordinary general annuities.

5.2 Calculate the future value and present value of ordinary annuities.

5.3 Calculate the present value and length of deferral period for a deferred

annuity.

5.4 Calculate the equivalent periodic interest rate for an ordinary general

annuity.

6.0 Ordinary Annuities: Payment Size, Term and Interest Rate Chapter 11

6.1 Calculate the payment size for ordinary and deferred annuities.

6.2 Calculate the number of payments for ordinary and deferred annuities.

6.3 Calculate the interest rate for ordinary annuities.

7.1 Calculate the present value and rate of return to sustain ordinary

simple or general perpetuities.

7.2 Calculate the payment in a deferred general perpetuity.

8.0 Annuities Due Chapter 13

8.1 Calculate the future value and present value of annuities due.

8.2 Calculate the payment size, number of payments and interest rate for Test Three

annuities due.

9.1 Calculate the outstanding principal balance after any payment using

the retrospective method.

9.2 Calculate a different final loan payment.

9.3 Calculate the interest and principal components of any loan payment.

9.4 Construct a loan’s amortization schedule.

9.5 Calculate mortgage payments for an original loan amount and a

renewal amount.

9.6 Calculate mortgage balances and amortization periods to reflect

prepayments of principal.

10.1 Calculate the market price of a bond for any date.

10.2 Calculate the yield to maturity of a bond on an interest payment date.

10.3 Calculate a bond price on any date.

10.4 Construct a complete sinking fund schedule. Test Four

COURSE OUTLINE 4

and Code MATH1020

Jerome, F. Ernest. Business Mathematics in Canada (5th Edition). Irwin 2005 (including Lyryx Interactive Pin Code).

(ISBN 007-098-6509). Day School

Jerome, F. Ernest. Business Mathematics in Canada (5th Edition). Irwin 2005 (ISBN 007-091-8643). Night School

Calculator – Texas Instruments BAII+ is required (Pre-programmed financial calculator).

Optional Resources

Handouts supplied by the professor

Instructor’s Solution Manual – On reserve in LRC

Student Solution Manual – available for purchase in bookstore

Evaluation

In order to successfully complete this course, the student is required to meet the following evaluation criteria:

Achieve a weighted average grade of ≥ 55% based on the following evaluation tools/methods:

Tests 90%

Assignments 10%

100%

NOTES:

1. Assignments may be a combination of paper-based and online; Online assignments must be completed by the posted

closing date.

2. No formulas will be given on tests or exams

3. Aids such as formula sheets are not permitted.

4. BAII Plus is the only calculator permitted on tests or exam. No other calculator will be allowed.

5. Dictionaries, electronic translators and electronic organizers are not permitted on tests or exams.

Other

The instructional mode is through lectures. Due to changing business practices and/or time constraints some topics may be

covered briefly or altered.

All tests and examinations must be written on the dates and at the times scheduled. Students who miss these tests or

examinations will automatically be given zero grades unless they can defend their absences with medical certificates, death

certificates or court documents. Students are responsible for keeping all returned assignments and tests in the event of

disputes over recorded marks. A student who misses a class is responsible for obtaining any handouts and information on

course content, assignments, due dates, test dates, etc.

Conestoga College is committed to providing academic accommodations for students with documented disabilities. Please

contact the Disability Services Office.

A course requirement sheet will be distributed at the beginning of the course and will be referred to in conjunction with this

course outline.

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