LURLEEN B. WALLACE COMMUNITY COLLEGE
ONLINE COURSE SYLLABUS
CONTACT INFORMATION
Instructor Name:
Michelle Goosby
Campus Location:
Macarthur Campus
Office Location:
E. Claude Nevin Bldg, Rm K113
Office Phone:
334-493-5339
Office Email:
mgoosby@lbwcc.edu
Office Hours:
1:00 – 4:00 pm M – TH, 8:00 am – 1:00 pm F
Campus Mailing Address:
1708 North Main Street
Opp, AL 36467
COURSE NUMBER AND TITLE
MTH 246 Mathematics of Finance
PREREQUISITES
MTH 098 or appropriate math placement score
DIVISION AND DEPARTMENT
Math/Science Division, Math Department
SEMESTER HOURS CREDIT
Three hours
CATALOG DESCRIPTION
This course explores mathematical applications relevant to business practices. Types
covered include simple and compound interest, credits, trade and bank discounts,
annuities, amortizations, depreciation, stocks and bonds, insurance, capitalization, and
perpetuities.
TEXTBOOK(S)
Business Mathematics, 10th edition by Miller, Salzman and Clendenen. Publisher is
Addison Wesley. New text includes access to MyMathLab (additional expense if book is
purchased used)
TECHNOLOGY REQUIREMENTS
A. General requirements
 A personal computer (not WebTV) with Windows 2000 or Windows XP
(computer labs are available on all three campuses)
 A VGA (or equivalent) or better monitor
 Reliable Internet access. (If using a dial-up connection, at least 28.8k
modem is recommended. Slower dial-up connections will affect course
performance. If you are an AOL user: You will need AOL version 7.0 or
higher)
 Netscape Navigator/Communicator 7.1 higher or Internet Explorer 6.0
 or higher
 Sound Card
 Most recent versions of plug-ins and viewers. These are free
additions to browsers that allow students to view special course
components such as video, clips, or animations.
B. Course specific requirements
 none
SUPPLEMENTARY MATERIAL
Paper
Scientific calculator
COURSE OBJECTIVES
CHAPTER 3: PERCENT
The student is required to meet the following objectives: define percentages, write
decimals and fractions as percents, write percents as decimals and fractions, solve
percentage problems through mathematical computations, concepts and applications, in
particular, increase and decrease problems; solve word problems using scientific
calculator, formula, and algebraic concepts.
CHAPTER 6: MATHEMATICS OF BUYING
The student is required to meet the following objectives: identify invoice abbreviations,
complete invoices, define list price and trade discounts, calculate single discounts, series
discounts, net cost, net cost equivalents, single discount equivalents, calculate cash
discounts using the ordinary dating method, end-of-month method, receipt of goods
method, extra dating method; determine whether cash discounts are earned, determine
credit given for partial payment of an invoice; solve word problems using scientific
calculator, formula, and algebraic concepts
.
CHAPTER 8: SIMPLE INTEREST
The student is required to meet the following objectives: define and calculate interest,
principal, annual rate, maturity value, time in years, and due date of a simple interest
note; define and calculate the bank discount, discount rate, effective interest rate,
discount period, proceeds, and face value of a simple discount note; calculate interest,
discount, and proceeds when discounting simple interest and simple discount notes before
maturity, use algebraic concepts, simple interest formulas and scientific calculators to
solve word problems involving the aforementioned.
CHAPTER 9: COMPOUND INTEREST
The student is required to meet the following objectives: define and calculate compound
interest, compound amount, present value of an investment, interest rate per
compounding period, number of compoundings per year, number of compoundings for
the duration of the investment; define compound interest periods such as daily, monthly,
annual, semiannual, and quarterly compoundings, solve word problems using compound
interest formulas, simple interest formulas, and compound interest tables; solve word
problems involving interest bearing accounts such as passbook, savings, and time deposit
accounts, solve word problems involving consumer price index and inflation; identify the
differences between simple interest and compound interest, use algebraic concepts,
compound interest formulas and scientific calculators to solve word problems involving
the aforementioned.
CHAPTER 10: ANNUITIES AND RETIREMENT ACCOUNTS
The student is required to meet the following objectives: define an ordinary annuity, an
annuity due, a sinking fund, and the present value of an ordinary annuity; identify the
compounding periods of an annuity; calculate the amount, present value, interest earned
and equivalent cash price of an ordinary annuity, calculate the amount of an annuity due;
calculate the amount of each periodic payment of a sinking fund; define various types of
annuities such as IRA’s, company-sponsored retirement plans and social security; define
types of stock, mutual funds, Dow Jones Industrial Average and Nasdaq Composite
Index; read stock tables; find current yield on a stock and stock’s current ratio; define
bonds; read bond tables; find commission charge on bonds and cost of purchasing bonds;
find the effective yield of a bond; solve word problems using algebraic concepts, sinking
fund table, compound interest tables, stock tables, bond tables, and formulas to calculate
the aforementioned.
CHAPTER 11: BUSINESS AND CONSUMER LOANS
The student is required to meet the following objectives: define open-end credit,
revolving charge accounts, loan consolidation, installment loans, personal property and
real estate, escrow accounts, and fixed and variable rate loans; calculate payment
amounts, finance charges, annual percentage rates, and unpaid balance of credit card
accounts using the unpaid balance and the average daily balance methods; calculate total
installment cost, finance charges and annual percentage rate of installment loans;
calculate balance owed, amount due at the maturity and unearned interest of a loan when
making early payments by using the United States Rule and the Rule of 78; calculate
payments, finance charges, and total cost of personal property loans using formulas and
amortization tables; use algebraic concepts, formulas, tables and scientific calculators to
solve word problems involving the aforementioned.
CHAPTER 12: TAXES AND INSURANCE
The student is required to meet the following objectives: define and calculate fair market
value, assessed valuation and tax rate for property tax; use formula to calculate property
tax; determine tax liability, calculate adjusted gross income, standard deduction amounts,
taxable income and federal income tax; determine balance due or a refund from the
Internal Revenue Service; prepare a 1040A and a Schedule 1 federal tax form; define the
terms policy, coverage, face value, and premium for fire insurance; calculate annual
premium for fire insurance; define coinsurance and use coinsurance formula to calculate
the amount of loss that the insurance company will pay; define multiple carrier
insurance; define liability, property damage, comprehensive and collision, no-fault, and
uninsured motorist insurances; find annual premiums of motor-vehicle insurance; define
term and whole life insurance, universal life, variable life, limited-payment life, and
endowments; determine annual premium of life insurance; identify different types of
insurance coverage such as worker’s compensation, liability, homeowner and medical;
use algebraic concepts, formulas, tables, and scientific calculators to solve word problems
involving the aforementioned.
CHAPTER 13: DEPRECIATION
The student shall define depreciation and its terms; calculate the amount of depreciation
each year, the annual rate of depreciation, the book value of an asset; prepare a
depreciation schedule; use the straight-line method, declining-balance method, sum-ofthe-years’ – digits method to determine the aforementioned.
ONLINE TEACHING METHODS
A variety of teaching methods and student involvement exercises will be utilized to
address different learning styles.
ATTENDANCE POLICY
Completion of homework assignments in a timely manner, completion of tests, and
weekly email contacts with the instructor are vehicles used to track student attendance in
an online environment. It is the student’s responsibility to allot sufficient time to
complete the objectives of the course within the parameters set by the instructor. Class
attendance is regarded as an obligation as well as a privilege. Absences seriously disrupt
a student’s orderly progress in a course. There is also a high correlation between the
number of absences and the final grade. In order to reap the numerous benefits provided
by the online environment, topics should be studied sequentially, instructions should be
followed explicitly, assignments should be completed in a timely manner and good study
skills should be maintained throughout the course.
WITHDRAWAL
College catalog page 30
EVALUATION PROCEDURES FOR ONLINE STUDENTS
The final average for MTH 246 Online will be calculated as follows:
50% Online Chapter Tests
25% Online Homework Assignments
25% Final Comprehensive Exam (proctored)
The College grading scale will be used:
90 – 100
A
80 – 89
B
70 – 79
C
60 – 69
0 – 59
D
F
MAKE-UPS and RE-TAKES: Make-ups and re-takes are only allowed when the
instructor deems it appropriate and necessary. In doing so, the student must initiate
arrangements with the instructor.
ACADEMIC HONESTY
Students are expected to follow the Student Code of Conduct as described in the current
college catalog (pages 157-159). Cheating and plagiarism violate these standards and
may result in disciplinary action, including expulsion.
POLICY ON REASONABLE ACCOMODATIONS FOR PEOPLE WITH
DISABILITIES
Lurleen B. Wallace Community College complies with Section 504 of the Rehabilitation
Act of 1973 and the Americans with Disabilities Act of 1990. If you have a disability
that might require special materials, services, or assistance, or if you have any questions
relating to accessibility, please contact the ADA Coordinator on the respective campuses.
For TDD users in Alabama, the Alabama Relay Center is available by calling 1-800-5482546. All materials related to compliance with the Americans with Disabilities Act are
maintained by the college coordinators.
Andalusia Campus
Bridges Anderson
334-881-2247
Greenville Campus
Dr. Jean Thompson
334-382-2133 ext. 3102
MacArthur Campus
Jason Cain
334-493-3573 ext. 5363
SAFETY
Safety procedures will be addressed during the first on campus meeting.
OTHER
Additional course information may be announced by the instructor, and the instructor
may make changes to this syllabus.