|School||School of Business + Media|
|Minimum Passing Grade||50%|
|Start Date||September 07, 2021|
|End Date||December 07, 2021|
|Pre-requisites||Algebraic skills to at least the Grade 11 level with a minimum 68% final mark. Students who do not have these skills should consider taking OPMT 0199 Math for Business or OPMT 0198 Business Math Assessment Test. Alternatively, students can take OPMT1199 Business Math and Algebra which includes review of algebra and tutorials. This course is designed to support understanding and development of basic skills and is equivalent to OPMT1110 and OPMT0199 combined.|
Acknowledgement of Territories
The British Columbia Institute of Technology acknowledges that our campuses are located on the unceded traditional territories of the Coast Salish Nations of Sḵwx̱wú7mesh (Squamish), səl̓ilwətaɁɬ (Tsleil-Waututh), and xwməθkwəy̓əm (Musqueam).
|Instructor to provide|
|Office Hours||Instructor to provide|
Reviews basic mathematics applicable to business and industry. Topics include consumer and commercial credit, simple and compound interest, financial instruments and discounting, annuities, mortgages, loans, sinking funds, leases, depreciation methods, capitalized costs, cash flow analysis, NPV and IRR. Emphasis is on maximum use of pre-programmed calculator and practical applications from the field of Financial Management.
Course Learning Outcomes/Competencies
Upon successful completion, the student will be able to:
- Identify the problem (e.g., to choose the most economical equipment).
- Formulate the problem elements into mathematical relationships and models.
- Use appropriate technology to assist in problem solving.
- Manipulate the relationship and models to provide a solution to the problem.
- Approximate the solution.
- Validate the solution.
- Apply concepts of proportion and percent to business areas such as markup, discounts, budget allocation.
- Utilize standard functions and graphical techniques to analyze relationships between quantities such as cost, revenue, production volume and profit.
- Apply the concept of the time value of money.
- Calculate interest, present and future values using simple interest.
- Calculate interest, present and future values using compound interest.
- Analyze interest rates by finding equivalent and effective rates.
- Calculate payments, present and future values for annuities in budgeting and asset evaluation and for mortgages.
- Calculate and compare interest on various forms of debt or investments.
- Create and use amortization tables for various debt instruments.
- Evaluate investment decisions using methods of payback and discounted cash flow such as net present value and internal rate of return.
- The course will be taught using the Texas Instrument BA II Plus business calculator.
- Optional free online textbook: link will be provided or see pdf file on D2L
HANDOUTS: Posted on D2L (The Learning Hub)
3 tests worth 15% each
covers the entire course
Course Schedule and AssignmentsBusiness Math Schedule Fall 2021
Lecture 1: Ratios and proportions, allocation
Lecture 2: Markup, margin, markdown
Lecture 3: Trade discounts
Lecture 4: Cash discounts, double conversions
Lecture 5: Finding the equation of a line, cost equations, breakeven analysis
Lecture 6: Cost comparisons
Lecture 7: Simple interest
Lecture 8: Compound Interest- finding PV, FV, time and interest rate
Test 1: Lectures 1 to 6 (worth 15%)
Lecture 9: Compound interest – equations of value
Lecture 10: Equations of Value Part 2 -choosing the best option
Lecture 11: Equivalent and effective rates, finding the average rate
Lecture 12: Simple annuities
Lecture 13: Annuities due, effective rates, general annuities, 5 keys, bonds, car leases
Test 2: Lectures 9 to 11 (worth 15%)
Lecture 14: Deferred annuities and back-to-back annuities
Finish, deferred annuities and back-to-back annuities
Lecture 15: General and deferred perpetuities, calculating share price (dividends)
Lecture 16: Amortization tables
Lecture 17: Mortgages, 32% rule, size of final payment, bi-weekly payments
Test 3: Lectures 12 to 15 (worth 15%)
Lecture 18: Investment decisions, NPV, IRR, payback
Lecture 19: Investment decisions-best investment, summary
Review for Final Exam
Final Exam: Lectures 1 to 19 (worth 40%)
Any student who needs special assistance in the event of a medical emergency or building evacuation (either because of a disability or for any other reason) should promptly inform their course instructor(s) and Accessibility Services of their personal circumstances.
Human Rights, Harassment and Discrimination:
The BCIT community is made up of individuals from every ability, background, experience and identity, each contributing uniquely to the richness and diversity of the BCIT community as a whole. In recognition of this, and the intrinsic value of our diversity, BCIT seeks to foster a climate of collaboration, understanding and mutual respect between all members of the community and ensure an inclusive accessible working and learning environment where everyone can succeed.
Respect, Diversity, and Inclusion is a supportive resource for both students and employees of BCIT, to foster a respectful learning and working environment. Any student who feels that they are experiencing discrimination or harassment (personal or human rights-related) can confidentially access this resource for advice and support. Please see Policy 7507 – Harassment and Discrimination and accompanying procedure.
Students should make themselves aware of additional Education, Administration, Safety and other BCIT policies listed at https://www.bcit.ca/about/administration/policies.shtml
Guidelines for School of Business + Media
Students must successfully complete a course within a maximum of three (3) attempts at the course. Students with two attempts in a single course will be allowed to repeat the course only upon special written permission from the Associate Dean. Students who have not successfully completed a course within three attempts may not be eligible to graduate from their respective program.
Regular attendance in lectures and labs is seen as integral to student success, therefore, attendance in class is monitored. Unexcused absences in excess of 10% of the time prescribed for this course may result in the assignment of a failing grade. Attendance may be taken at any time during class. A student not present for attendance will be marked absent. A student who leaves class for a period of time deemed excessive by the instructor may be considered absent regardless of whether they are present when attendance is taken.
In case of illness or other unavoidable absence, students must communicate with the instructor, or the appropriate Program Head, as soon as possible (preferably in advance) indicating the reason for the absence. Students who are seeking accommodation for a medical absence must have a BCIT-approved medical certificate ). For other absences, students must be prepared to provide appropriate supporting documentation.
A student who has unexcused absences in excess of 10% of the time prescribed for the course by the Withdrawal Deadline is considered to have ‘Vanished’ and will be assigned a grade of ‘V’. In these cases, no further work will be graded.
These requirements are set out in accordance with BCIT Policy 5101 Student Regulations. More information regarding withdrawals from PTS courses is available at https://www.bcit.ca/pts/pts_withdrawals.shtml.
I verify that the content of this course outline is current.
Myra Andrews, Instructor
July 20, 2021
I verify that this course outline has been reviewed.
Sam Choo, Program Head
July 20, 2021
I verify that this course outline has been reviewed and complies with BCIT policy.
Phil Ramer, Associate Dean
July 20, 2021
Note: Should changes be required to the content of this course outline, students will be given reasonable notice.