MATH 1220 - Business Mathematics

4.5 Credits

This course explores the development and application of the mathematical skills needed to solve problems related to business occupations. Topics include percentages, checking accounts and services, payroll, payroll taxes, cash and trade discounts, markdowns, property and sales taxes, simple and compound interest, installment purchases, loan payment plans, and annuities.

Note: Math 1220, 1240, and 1242 do not have a prerequisite. Basic skills needed are reviewed and taught within each course. Each course satisfies the math requirements in specific MCC programs. Check your program requirements. In most cases, these courses do not transfer to four-year institutions.

Lecture Hours: 4.5
Lab Hours: 0.0
Internship Hours: 0.0
Clinical or Practicum Hours: 0.0

Course Objectives

Balance checking accounts, calculate values using percent relationships, and solve application problems relating to them.
Calculate payroll, payroll taxes, trade and cash discounts.
Solve all types of simple interest problems and use the principles to calculate bank discount loans.
Determine compound interest, maturity values, present values, and effective rates, and their application to annuities and sinking funds.
Calculate mortgage payments, credit card account payments, installment loan payments, personal property loans and real estate loan payments.

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