BUSINESS EDUCATIONEDUCATION FOR LIFE

BUSINESS MATHEMATICS Course Description The study of business mathematics is a practical approach to learning mathematics. Basic skills that will be useful throughout life will be taught. Solving mathematical problems, analyzing and interpreting data, and applying sound decision-making skills will be strengthened. Students will develop the computation skills needed to solve business and consumer-related problems with emphasis on estimating answers, using valuable shortcuts, speed, and accuracy. The curriculum covers check and bank records including online banking, calculating pay, taxes, budgets, borrowing money, credit cards, saving, investing, and insurance. Purchasing and selling for a business and profit and loss will be introduced. The use of the calculator and EXCEL are integrated throughout the course. Recommended for: Course length: Credits: Level: Goals Develop understanding of the basic principles of business mathematics Acquire a mathematics foundation to apply to other business courses and lifelong learning Expand mathematics and business vocabularies Prepare students to solve mathematics problems for personal, consumer, and business applications Use spreadsheets to prepare students to use math in their personal life and in the everchanging workplace All students Full year 1 (Mathematics Credit) III

Competencies Develop speed and accuracy in the performance of fundamental mathematics processes Strengthen the ability to perform mental computations Increase skill in estimating and evaluating answers

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Provide a background in business terms, forms, tasks through the application of business mathematics Enhance skill in solving problems related to wage income Solve problems related to buying and selling efficiently Apply mathematics skills to budgeting and banking Furnish a background for the efficient borrowing, saving, and investing of earnings Provide experience in solving problems related to home and transportation expenses, taxes, and insurance as they relate to personal life Prepare students for todays jobs by incorporating math concepts using spreadsheet functions and creating formulas Use graphs and charts

Course Content I. Earnings, Benefits, and Deductions A. B. C. D. E. F. G. Gross pay: hourly and salary Regular and overtime pay Commission Piece rate, per diem, and tips Deductions and net pay Job benefits and job expenses Fundamental processes reviewed and strengthened 1. Multiplication 2. Division 3. Estimation 4. Fractions 5. Ratio and proportion 6. Decimals 7. Percentage

II. Budgeting and Buying A. B. C. D. E. Planning a budget Buying wisely Sales tax and receipts Understanding utility expenses Fundamental processes 1. Costs of large quantities 2. Extension shortcuts
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3. Unit pricing III. Banking A. B. C. D. Checking accounts Electronic and on-line accounts Bank records Fundamental processes reviewed and strengthened 1. Addition 2. Subtraction

IV. Borrowing Money A. B. C. D. Computing interest Types of loans Buying on credit Fundamental processes 1. Exact and bankers interest 2. Interest tables 3. Due dates and times of notes 4. Installment loans 5. Credit cards

V. Saving and Investing Money A. B. C. D. Savings accounts Money markets and CD accounts Real estate Fundamental processes 1. Compounding interest 2. Effective rate of interest 3. Capital investment

VI. Major Consumer Expenses A. B. C. D. E. Housing TransportationMSRP, leasing Taxesproperty, sales, excise, income, FICA Insurancehealth, life, property, auto Fundamental processes 1. Understanding and interpreting charts 2. Computing premiums 3. Depreciation 4. Mortgages

Instructional Methodologies Lecture/note taking

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Discussion Worksheet exercises Spreadsheet exercises Vocabulary notebooks Simulation exercises Budgeting projects Business form preparation Cooperative learning

Instructional Resources (Students) Texts Business Mathematics, 15th Edition, South-Western Thomson Learning, 2003 Business Math Using Excel, South-Western Thomson Learning, 2005 Simulations Calculating Machines Simulation, 5th Edition, South-Western Educational Publishing, 2000 Bank Bostons How To Do Your Banking Federal and state income tax publications Assorted business forms Spreadsheet software (Microsoft EXCEL)

Teacher Resources Instructors Edition of Business Mathematics, 15th Edition, South-Western Thomson Learning, 2003 Instructors Edition of Business Mathematics, 15th Edition Workbook, South-Western Thomson Learning, 2003 Instructors Edition of Business Math Using Excel, South-Western Thomson Learning, 2005 Instructors Edition of Calculating Machines Simulation, 5th Edition, South-Western Educational Publishing, 2000 Instructors Edition of Bank Bostons How To Do Your Banking

Curriculum Map Term I Weeks 1 and 2 Introduction to course, class expectation, introductory paper work Decimal number system Round numbers Use Excel to round numbers Identify terms used with addition
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Use Excel to solve problems involving additioncreate formulas Identify terms used with subtraction Use Excel to solve problems involving subtractioncreate formulas Identify terms used with multiplication Use Excel to solve problems involving multiplicationcreate formulas Identify terms used with division Use Excel to solve problems involving divisioncreate formulas Combine basic math operations in Excel Identify terms used with fractions and mixed numbers Use Excel to enter fractions and mixed numbers Use Excel to add and subtract fractions and mixed numbers Copy formulas in Excel Use Excel to multiply and divide numbers and fractions Identify terms used with percents Use Excel to format a percent, decimal, or fraction Week 3 Gross pay for hourly employees Gross pay for salaried employees Recording hours worked Overtime and overtime pay rates Regular and overtime wages Use Excel to calculate straight time, overtime, and double time Week 4 Straight commission Commission based on quota Graduated commission Rate of commission on sales Week 5 Piece-rate employees Per diem employees Tip employees Use Excel to calculate various methods of compensation Week 6 Federal withholding tax deduction Social Security and Medicare tax deductions Tax deductions and net pay Use Excel to calculate Social Security, Medicare, federal income tax and state income tax Absolute cell referencing Deductions from gross pay Week 7 Use Excel to create a payroll register Total and net job benefits
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Comparing job benefits Adjusted gross income Taxable income Week 8 Income tax due State income tax City income tax Week 9 State graduated income tax City graduated income tax Use Excel to calculate SUTA, FUTA, and federal income tax Term II Week 1 Cash receipts record Column cash payments record Use Excel to create cash receipts and payment records Expense percentages Week 2 Budgeting On Your Own Budget Project Calculate monthly salary, deductions and net pay Research online and find an affordable apartment Week 3 On Your Own Budget Project Research online and find an affordable car Calculate down payment Use online calculator to calculate monthly loan amount Week 4 On Your Own Budget Project Budget guidelines and worksheet Cover page for project with completed responses Deposit slips Check register Week 5 Use Excel to complete a deposit slip and check register Electronic banking Recording electronic transactions Online banking

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Week 6 Reconcile the bank statement Reconcile the check register Reconciling the checking account Week 7 Using Excel to reconcile a bank statement Maintaining a checking account simulation Record transactions into check register Complete checks and deposit slips Reconcile bank statement with check register Week 8 Savings account simple interest Savings account compound interest Compound interest tables Money market and CD accounts Week 9 Penalties on Certificates of Deposit Compare savings accounts Effective rate of interest
Term III Week 1 Interest-bearing promissory notes Exact interest method Ordinary interest method Rate of interest

Week 2 Simple interest table Due dates Days between dates Use Excel to calculate interest, maturity value, number of days, and due date Use Excel to calculate compound amount and compound interest Week 3 Installment price and finance charge Monthly installment payments Installment loans Use Excel to calculate the cost of an installment loan
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Week 4 Information on a credit card statement Verify transactions on a credit card Cost of credit card use
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Week 5 Credit card finance charges Previous balance method Adjusted balance method Week 6 Cash advances Use Excel to figure finance charge and new balance Sales tax rates Sales tax on purchases Nontaxable items Week 7 Sales receipts Sales slip extensions Sales slip totals Week 8 Unit prices Unit price comparison Group pricing Use Excel to calculate sales tax Week 9 Comparative shopping Prices at sales, different stores, and in different amounts Rental options Rent or buy Term IV Week 1 Borrowing to buy a home Down payments and closing costs Mortgage loan interest costs Refinancing a mortgage Week 2 Renting or owning a home Costs of home ownership Costs of property rental Comparing renting and owning homes Use Excel to calculate monthly payment Week 3 Buying a car Manufacturers Suggested Retail Price Cost of new car purchases
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Cost of used car purchases Week 4 Average annual depreciation Rate of depreciation Car insurance Types of coverage Car insurance premiums Week 5 Financing car purchases Costs of leasing Comparing leasing and buying Week 6 Personal Budget Project Research online and find a career Calculate monthly gross salary Research online and find an affordable home Calculate down payment, loan amount, and monthly payment Calculate total amount of payments and total interest paid Week 7 Personal Budget Project Research online and find an affordable automobile Calculate down payment, loan amount, and monthly payment Calculate car insurance premium Complete monthly budget worksheet Complete cover page with responses Term IV of seven weeks based on senior classany underclass students continue with the following: Week 8 Calculator Simulation Extending and totaling expense reports Totaling time cards and piecework cards Calculating weekly gross earnings Calculating deductions and weekly net earnings Week 9 Calculator Simulation Totaling time cards and piecework cards Calculating weekly gross earnings Calculating deductions and weekly net earnings Reconciling a bank statement

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Week 10 Calculator Simulation Totaling time cards and piecework cards Calculating auto repair order totals Calculating weekly gross earnings Reconciling a bank statement Calculating auto repair order totals Technology Resources Calculator Computer overhead projection system for demonstrations Computer laboratory classroom with Internet access Computer applicationExcel software (spreadsheets)

Methods of Assessment Teacher-prepared and standardized tests/quizzes Simulations Spreadsheet exercises Worksheet exercises Class work/Homework Budget projects Math and business vocabulary and notes Class participation Department rubrics School-wide rubrics Midterm and final examinations

Academic SupportEnrichment Topics and Activities Technology Projects 1. Enter data and analyze payroll detail sheet spreadsheet Design and analyze sales commission spreadsheet 2. Enter data and analyze payroll detail spreadsheet Design and analyze a job benefits spreadsheet 3. Enter data and analyze an interest earned on savings accounts spreadsheet Design and analyze a bank reconciliation spreadsheet 4. Enter data and analyze an average daily balance finance charge spreadsheet Design and analyze a cash advance finance charge spreadsheet 5. Enter data and analyze a rent or buy template spreadsheet Design and analyze a sales receipt and sales tax calculator spreadsheet 6. Enter data and analyze a calculating mortgage payments spreadsheet Design and analyze an insurance loss payment spreadsheet
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Global Awareness/Global Economy Consumer participation in a worldwide economy Exposure to economic and business differences in other countries Understanding an application of the metric system Converting currency Impact of technology

Massachusetts Technology Literacy Standards and Expectations Supporting Integration of Technology in the Course Content (2008) Basic Operations G9-12: 1.6 Demonstrate keyboarding techniques, including the use of keyboard shortcuts, to complete assignments efficiently and accurately. (numeric keypad) Spreadsheet G9-12: 1.18 Define and use functions of a spreadsheet application (e.g., sort, filter, find). G9-12: 1.19 Enter formulas and functions; use the auto-fill feature in a spreadsheet application. G9-12: 1.20 Explain and use advanced formatting features of a spreadsheet application (e.g., reposition columns and rows, add and name worksheets). G9-12: 1.21 Differentiate between formulas with absolute and relative cell references. Ethics G9-12: 2.1 Demonstrate compliance with the schools Acceptable Use Policy. G9-12: 2.2 Explain issues related to the responsible use of technology (e.g., privacy, security). G9-12: 2.3 Explain laws restricting the use of copyrighted materials. G9-12: 2.5 Write correct in-text citations and reference lists for text and images gathered from electronic sources. Society G9-12: 2.8 Design and implement a personal learning plan that includes the use of technology to support lifelong learning goals. G9-12: 2.9 Evaluate the authenticity, accuracy, appropriateness, and bias of electronic resources, including Web sites. Research G9-12: 3.1 Devise and demonstrate strategies for efficiently collecting and organizing information from electronic sources. G9-12: 3.2 Compare, evaluate, and select appropriate electronic resources to locate specific information. G9-12: 3.3 Select the most appropriate search engines and directories for specific research tasks. Problem Solving G9-12: 3.5 Explain and demonstrate how specialized technology tools can be used for problem solving, decision making, and creativity in all subject areas.
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School-to-Career Skills Reflected in the Course Competencies (*Reflect SCANS SkillsThe Secretarys Commission on Achieving Necessary Skills, U.S. Dept. of Labor) Oral and written communication* Math skills* Listening effectively* Computer literacy/skills* Decision making* Creative thinking* Critical thinking Problem solving* Transfer learning strategies* Organizing* Manages money* Apply information to problems and tasks* Analyze/interpret information and tasks* Self-management* Visioning an end result* Understand systems* Use computes to process information* Preparation for internships, education after high school, and employment

AHS School-Wide Academic Expectations Reflected in the Course Competencies Students will demonstrate satisfactory achievement in the standards-based curriculum at Agawam High School Students will communicate effectively through listening Students will communicate effectively through reading Students will communicate effectively through speaking Students will communicate effectively through writing Students will use scientific and mathematical processes to interpret and evaluate information and solve problems across the curriculum Students will develop proficiency in information and communication technology literacy skills and will use appropriate tools to identify and solve problems across the curriculum Students will participate in activities to foster individual interest and fulfill individual potential Students will become knowledgeable of the changing employment market and acquire skills for career exploration

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Massachusetts Common Core of Learning Elements Reflected in the Course Competencies Read and listen critically for information, understanding and enjoyment Apply mathematical skills to interpret information and solve problems Use computers and other technologies to obtain, organize and communicate information and to solve problems Know and understand major mathematical concepts such as measurement, estimation, quantity, probability and statistics; and explore the relationship of mathematics to other areas of knowledge Set goals and achieve them by organizing time, work space, and resources effectively Monitor progress and learn from both successes and mistakes Manage money, balance competing priorities and interests, and allocate time among study, work and recreation Work both independently and in groups Work hard, persevere and act with integrity Accept responsibility for ones own behavior and actions Know career options and the academic and occupational requirements needed for employment and economic independence Treat others with respect and understand similarities and differences among people Understand the individuals rights responsibilities, and role in the community, state and nation

Applications of Mathematics and Computation Reflected in the Course Competencies Massachusetts Mathematics Curriculum Framework Learning Standards National Standards for Business Education Performance StandardsComputation (2007) Understand numbers, ways of representing numbers, relationships among numbers, and number systems Understand meanings of operations and how they relate to each other Apply appropriate techniques, tools, and formulas to determine measurements Compute fluently and make reasonable estimates Select and use appropriate statistical methods to analyze data Develop and evaluate inferences and predictions that are based on data Apply mathematical operations to solve problems Solve problems involving whole numbers, decimals, fractions, percents, ratios, averages, and proportion Apply the order of operations principle when using mathematical processes Solve for the unknown variable in an equation Use common international standards of measurement when solving problems Construct, read, ant interpret tables, charts, and graphs

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Compare calculated result with estimated result to determine reasonableness of a solution

Massachusetts Career/Vocational Technical Education Curriculum Frameworks Reflected in the Course Competencies Business and Consumer Services ClusterOffice Technology Technical Knowledge and Skills 2.N Define and demonstrate the fundamental functions of a spreadsheet. Define spreadsheet terminology Identify and locate cells, columns, and rows Format cells, rows, and columns Enter, edit, and sort data Create, edit, and save a worksheet Perform basic functions such as average, sum, count, min/max 2.O Format a spreadsheet Format and align data, columns, and rows Apply predefined styles Paste formulas, values, formats, and links 2.P Demonstrate how to use formulas, functions, printing features of a spreadsheet Create copy, edit, and apply a formula Calculate absolute and relative references Preview and print selections, worksheets, and workbooks 2.X Explain fundamental financial concepts and applications. Compare and contrast the services offered by a bank, credit union, mortgage company, and loan company. Describe income, sales, property, and excise tax. Explain the forms and purposes of life, property, health, and auto insurance. Track the performance of a currently traded stock. Explain the function of a credit bureau. Calculate the cost of a mortgage, car loan, and personal loan. Open, maintain, and reconcile a personal checking account. Research the benefits of a savings account, money market, certificate of deposit, U.S. Savings Bond and mutual fund. Calculate the cost of a credit card or installment plan purchase. Prepare a personal budget. Compare and contrast the benefits of leasing vs. buying. National Standards for Business Education Performance Standards Reflected in the Course Competencies (2007) Computation Determine the correct mathematical process to use for various problem situations and use formulas when appropriate

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Select and use appropriate tools when solving problems (e.g., paper and pencil, manipulatives, hand-held calculators, web calculators, computer numerical keypads, spreadsheets, and personal desktop assistants) Define and use appropriate mathematical symbols for given problems Round numbers for estimation and other purposes Estimate and then calculate answers to problems using addition, subtraction, multiplication, and division Compare calculated result with estimated result to determine the reasonableness of a solution Explain relationships between mathematical processes Communicate understanding of problems through oral and written means Number Relationships and Operations Solve problems that involve whole numbers, decimals, and fractions and use appropriate conversions (e.g., fractions to decimals or decimals to fractions) when necessary Solve problems that involve percents, ratios, averages, and proportions and use appropriate conversions (e.g., decimals to percents, percents to decimals, or ratios to percents) when necessary Measurements Identify standard U.S. units of measurement and show relationships (e.g., length, volume, and weight) Calculate units of time and show relationships (e.g., days to months, elapsed time, or interest conversion periods) Statistics and Probability Construct, read, and interpret tables, charts, and graphs Estimate and calculate measures of central tendency (mean, median, mode) Problem-Solving Applications Compute personal federal and state income taxes Using the simple interest equation (I=PRT), solve for one of the variables and find maturity value, maturity date, and days between dates Calculate due date, interest, and maturity value of a simple interest note when the term of the loan is in months, days, or years Compute compound interest and the resulting compound amount at the maturity date for savings and investments Calculate penalties for early withdrawal from a certificate of deposit Calculate gross earnings (e.g., salary, hourly rate, commission, per diem, tips, or production) Calculate payroll withholdings, Social Security and Medicare deductions, other deductions, and net earnings Maintain payroll register and individual earnings record Complete check records (e.g., check register and deposit slips) Calculate income and expenses for a given time period Calculate fixed and variable costs, analyze data, and estimate the projected total income and total expenses for a given time period Prepare a budget
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Calculate a credit card balance and finance charge using the unpaid balance method or average-daily balance method Calculate the outstanding amount for installment purchases Calculate finance/additional charges, periodic payment, total cost, and APR on an installment contract Compare cash price to installment price in order to make a purchasing decision Calculate periodic payment, interest, and total amount required to pay to amortize a loan (e.g., mortgage) Calculate finance charges on credit card balances and cash advances Calculate a down payment, closing costs, and mortgage loan amount Calculate the savings from refinancing a mortgage Use calculators on the Internet to solve problems pertaining to installment loans, mortgages, mortgage refinancing, and loan prepayment Calculate present value of a simple interest loan Calculate the total purchase price given the number of units and unit price Compare the cost of renting, leasing, and buying equipment Compare the costs of buying and maintaining a new and used car versus leasing and maintaining a new and used car Calculate the total sales and the sales tax for a sales transaction

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