Math

Business maths are mathematics used by commercial enterprises to record and manage business operations. Commercial organizations use mathematics in accounting, inventory management, marketing, sales forecasting, and financial analysis.”

Mathematics typically used in commerce includes elementary arithmetic, elementary algebra, statistics and probability. Business management can be made more effective in some cases by use of more advanced mathematics such as calculus, matrix algebra and linear programming. ( Wikipedia )

Business Math 1 - Session 1: Interest calculations

• Interest calcualations
• Simple interest calculation Interest = Principal * Interest rate * Time ( I = P * R * T ) ( w:fi:Korko = Pääoma * Korkoprosentti )
• w:Compound interest arises when interest is added to the principal, so that, from that moment on, the interest that has been added also earns interest. This addition of interest to the principal is called compounding.

Business Math 1 - Session 4: Compound interest

• w:Compound interest calculation arises when interest is added to the w:principal, so that, from that moment on, the interest that has been added also earns w:interest. This addition of interest to the principal is called compounding. ( Wikipedia )
• The time value of money is the value of money figuring in a given amount of interest earned or inflation accrued over a given amount of time. ( Wikipedia )

Teacher: Jutta Heikkilä

Type of course: Mandatory course in GloBBA in Category:mathematics

Course code: ???

Course material: Business Mathematics: Part 2 - with Excel by Jutta Heikkilä ( Available only from the shop in Suomen Liikemiesten Kauppaopisto (SLK), ~8€ )

The term includes the w:nominal APR and the w:effective APR
• w:Hire purchase ( w:fi:Osamaksu ) is the legal term for a contract, in which persons usually agree to pay for goods in parts or a percentage at a time. ( Wikipedia )
• w:Leasing ( w:fi:Leasing ) is a process by which a firm can obtain the use of a certain fixed assets for which it must pay a series of contractual, periodic, tax deductible payments. ( Wikipedia )