This course discusses mathematics of finance concepts applicable to business and industry. Topics include retail operations, simple and compound interest, discounts, annuities, financial papers and depreciation methods. Emphasis is on practical applications to business management.
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Upon successful completion, the student will be able to:
Apply concepts of proportion and percent to business areas such as mark-up, discounts, budget allocation.
Analyze relationships between quantities such as cost, revenue, production volume and profit using standard functions and graphical techniques.
Apply the time value of money.
Calculate interest, present and future values using simple and compound interest.
Analyse interest rates by finding equivalent and effective rates.
Calculate payments, present and future values for annuities in budgeting and asset evaluation and for mortgages.
Evaluate investment decisions using methods of payback and discounted cash flow such as net present value and internal rate of return.
Select appropriate mathematical methods to analyze specific business problems.
Effective as of Fall 2014
OPMT 3510 is offered as a part of the following programs:
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