Business Math.pdf

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BUSINESS MATH

Ninth Edition

CHERYL CLEAVES

Southwest Tennessee Community College

MARGIE HOBBS

The University of Mississippi

JEFFREY NOBLE

Madison Area Technical College

Prentice Hall

Boston

Columbus

Indianapolis

New York

San Francisco

Upper Saddle River

Amsterdam

Cape Town

Dubai

London

Madrid

Milan

Munich

Paris

Montreal

Toronto

Delhi

Mexico City

Sao Paulo

Sydney

Hong Kong

Seoul

Singapore

Taipei

Tokyo

Editorial Director: Vernon Anthony

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Development Editor: Linda G. Cupp

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Text Font: Times Roman

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Library of Congress Cataloging-in-Publication Data

Cleaves, Cheryl S.

Business math/Cheryl Cleaves, Margie Hobbs, Jeffrey Noble.—9th ed.

p. cm.

ISBN 978-0-13-510817-8

1. Business mathematics.

I. Hobbs, Margie J.

II. Noble, Jeffrey J.

III. Title.

HF5691.C53 2012

650.01 513—dc22

2010042943

10987654321

ISBN 13: 978-0-13-254572-3

ISBN 10:

0-13-254572-1

PREFACE

From the Authors: About the 9th Edition of Business Math

Does just opening this book increase your stress level? What can be more stressful than manag-

ing your own money or the finances of a small business? Well, we hope you will be pleasantly

surprised as you work through this book.

This book is designed to empower individuals and small business owners with the skills they

need to handle their personal and business finances. For too long, too many of us have avoided

the topics presented in this text. We either thought that we couldn’t learn them because they in-

volved math or that we didn’t need them because we had a good background in more advanced

mathematical concepts. Business Math deals with money, and everyone needs to understand how

to manage money.

In this text you will review some basic math that you may have forgotten; even if you haven’t,

the basic math will relate to the world in which you live. All the applied problems are designed

to simulate instances in real life where you would need these math skills.

You will learn about banking, interest, consumer credit, mortgages, investments, insurance,

taxes, and many more topics that you will encounter no matter what career you pursue. You will

examine some common business practices such as payroll, markup, markdown, trade discounts,

cash discounts, and business statistics that will be beneficial whether you are a consumer, em-

ployee, or owner of a small business.

For those more involved with the recordkeeping of a small business, you will find topics such

as depreciation, inventory, and financial statements to be very informative, especially if you plan

to take some accounting courses. Recordkeeping requirements that we encounter from govern-

ment agencies, lending agencies, and investors can be overwhelming if we don’t have a basic un-

derstanding of these concepts.

Why is this book special? We have tried to use a conversational writing style and to incorpo-

rate interesting but relevant examples, applications, and case studies. All three of us have fami-

lies, business interests, educational experiences, and many business contacts that we have drawn

on when writing this book. Above all, we care about our students. We want our students to enjoy

learning new things while they get beyond some of the anxieties and dislikes that are commonly

associated with these topics. The original two authors, Cheryl and Margie, have added Jeff to our

writing team. He brings added experience in the marketing and small business fields. While we

all take pride in our work, we also make it fun. One of our main objectives is to make it fun for

you, too.

We hope you enjoy your journey through the text. If you have questions or suggestions, we

would love to hear from you.

Cheryl Cleaves

ccleaves@bellsouth.net

Margie Hobbs

margiehobbs@bellsouth.net

Jeffrey Noble

jnoble@matcmadison.edu

iii

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