AFT1103 BUSINESS MATHEMATICS FEBRUARY 2014/15

GROUP ASSIGNMENT 1
In this course, you may work in your sub-group based on your Turorial Class given by
your tutorial lecturer. This assignment consists of two parts: Part A and Part B.

PART A

INSTRUCTION:

1. Create a name of company and list down all the employees name, departments and all the
details for the employee that can be use in the payroll report (e.g.: hourly work per week,
hourly pay and etc.).
2. The number of the employee for the company must be AT LEAST ten people from the
various departments (eg: sales department, operation department and etc.).
3. Create the payroll report using Microsoft Excel. The design of the report is depends on your
creativity.
4. The display for todays date in your report must be your dateline of the assignment in the
upper left corner of the spreadsheet. Payroll Week Ending Date must be in the upper right
corner of the spreadsheet.
5. Be sure to use the appropriate numeric formatting for all numeric values; i.e., notice that
when there is an employee with no overtime pay, it should display as a dash. All numeric
values are displayed with two decimal positions.
6. The columns that must contain calculations are:
a. Regular Pay at least one calculation must be shown.
b. Overtime Pay at least one calculation must be shown.
c. Commision (at least two employees) ALL calculation must be shown.
d. Piecework earning (at least two employees) ALL calculation must be shown.
e. Gross Pay ALL calculation must be shown.
7. Sort the worksheet by department name and within department (by employees name.
8. Print the worksheet. Make sure that the sheet fits on one page.
9. Worksheet Example as Appendix A (an unsorted version is shown).

PART B

INSTRUCTION: Answer ALL questions.

1. Jovinia has just come from a Personal Finance class where she learned that she can
determine how much her savings will be worth in the future. Jovinia is completing her two-
year business administration degree this semester and has been repairing computers in her
spare time to pay for her tuition and books. Jovinia got out her savings records and decided
to apply what she had learned. She has a balance of RM2,000 in a money market account
at First Savings Bank, and she considers this to an emergency fund. Her instructor says
that she should have 3-6 months of her total bills in an emergency fund. Her bills are
currently RM850 a month. She also has a checking account and a regular savings account
at First Savings Bank, and she will shift some of her funds from those accounts into the
 AFT1103 BUSINESS MATHEMATICS FEBRUARY 2014/15

emergency fund. One of Jovinias future goals is to buy a house. She wants to start another
account to save the RM8,000 for a down payment for the house.
i. How much interest will Jovinia receive on RM2,000 in a 360-day year if she keeps it
in the money market account earning 2.25% compounded quarterly?
ii. How much money must Jovinia shift from her other accounts to her emergency fund
to have four times her monthly bills in the account by the end of the year?
iii. Jovinia realizes she needs to earn more interest than her current money market can
provide. Using annual compounding on an account that pays 5.5% interest annually,
find the amount Jovinia needs to invest to have the RM8,000 down payment for her
house in 5 years.

2. Faqim bought a plasma television at RM4,500 using instalment payments. He paid 20% for
the down payment and the balance was settled by making 24 monthly instalments. If the
interest charged was 4.75% per annum on the original balance, find:
i. the total interest charged
ii. the monthly payment
iii. the instalment price
iv. the outstanding balance if he decide to sttle the balance immediately after making the
12th payment using the Rule of 78.

GUIDELINES

1. Reporting Format:

Cover Page Please use as per template given

Writing Font Type: Times New Roman

Font Size: 12
Spacing: 1.5
Heading: Font 14, Times New Roman, Bold, Capitalize each Word, Underline,
Numbering.

Page Number Format: Bottom Centre

Font Type: Times New Roman
Font Size: 12

Binding Tape

2. Students MUST insert the Assignment Rubric form in the report right after the cover page.
3. The content of your report shall follow the Assignment Rubrics form.
4. Any PLAGIARISM detected, penalty will be given for all group members.
5. 5% will be deducted from total marks for LATE SUBMISSION (regardless of any reason)
AFT1103 BUSINESS MATHEMATICS FEBRUARY 2014/15

SUBMISSION DATE

Assignment 1: 23rd APRIL 2015

*Note: Please submit your asignments before or on the respective date
before 3.00pm.
 AFT1103 BUSINESS MATHEMATICS FEBRUARY 2014/15

ASSIGNMENT RUBRICS (10%)

PART B
Please refer to the Assignment Rubrics below for your reporting format. Kindly note that your assignment will be
assessed based on the following rubrics.

No. Item(s) CLO Full Student

Marks Marks

1. Cover Page
Name of Group Members
Matrix No.
CLO1 0.5
Tutorial Group
Name of Lecturer

2. Body
Part A:
Name of the company CLO1 0.5

Employees profile: regular hourly work, overtime

hour work, commission, piecework earning (10 CLO2 5
employee x 0.5)

Calculation
- Regular pay CLO2 0.5
- Overtime pay CLO2 0.5
- Commission CLO2 0.5
- Piecework earning CLO2 0.5
- Gross pay CLO2 3
-Total CLO3 0.5
- All values in the columns are accurate CLO3 2

3. Part B:

Question 1
Formula CLO1 1
Calculation CLO2 6
Answer (unit) CLO3 2

Question 2
Formula CLO1 1
Calculation CLO2 5
Answer (unit) CLO3 1.5

Total 30