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Hello Welcome to Business Math B. I am your instructor, Miss deRochemont, or you can call
me Miss D. This is one of my favorite classes because in our last week of the 4 week schedule
you will be applying all your creativity to develop a business using some of the concepts
we have covered in the class. Most of you will of already received an email from me
with my contact information. Email is probably the best way to reach me, but if you need
to you can also text or call me. I will do my best to solve any issue you have. This
PP will give you glimpse of what we will be covering and you can look for the next email
from me which will have your first assignment and worksheets. OK with that lets get going!
Believe it or not almost any job or career you will require you know and use math. If
you have ever thought of starting a business you will find what we will learn together
very useful but even if you help someone else with their business or work for a company
these math concepts come in handy. We will be looking at how to calculate profit and
loss, forecast potential earnings, how to manage inventory, calculate sales tax and
discount reductions and how to compare financing options related to interest rates as well
as how to manage a business bank account. Percentages are extremely valuable in business.
We want to know how to calculate a mark up which the amount we add to the cost of a product
or service in order to make enough Profit which is the money needed to keep the business
running. When items go on sale, business owners or managers select items to be sold at a discount.
In order to figure out how much to discount the use of percentages is needed.
It is important to know exactly what a product costs to be able to seek a profit. If not
you will never know your profit. There are many costs that are added to the initial cost.
A good business owner or manager is always looking at his/her costs.
Sales tax-is one of the most important areas because if you do not pay it, even if you
are successful you will lose your business because the state will shut you down. You
are required to collect sales tax and give it to the government when it is due. The best
way to do that is put it away in a separate area so you don't spend it and have it when
you need to pay up. We will also be looking at the costs and benefits of borrowing and
developing credit.