Chapter 1: Succeeding In Business Mathematics

How To Use This Textbook

Math!

You may really dread the “M” word.

Take a look at your world from a different perspective—notice that math is everywhere! Before you went to bed last night, you performed some math and solved a complex algebraic equation (and you probably didn’t even realize it!). That equation helped you to figure out what time to get up this morning so that you could arrive at your destination on time. You factored in variables such as the required arrival time, commuting time (including the unknown variables of traffic and weather delays), morning routine time, and even snooze button time. When you solved this complex algebraic equation, you then set your alarm clock.

From the moment you woke up this morning, numbers have appeared everywhere. Perhaps you figured out how many calories are in your breakfast cereal. Maybe your car’s gas tank was low, so you calculated whether you had enough gas for your commute today. You checked your bank account online to see if you had enough money to pay the bills. At Tim Hortons you figured out what size of coffee you could buy to go with your donut using only the $1.80 in change in your pocket. I hope you get my point.

Students ask, “But why do I want to learn about business math?” The answer is simply this: money. Our world revolves around money. We all work to earn money. We need money to purchase our necessities, such as homes, transportation, food, and utilities. We also need money to enjoy the pleasures of life, including vacations, entertainment, and hobbies. We need money to retire. And businesses need money to survive and prosper.

Quite simply, business math teaches you monetary concepts and how to make smart decisions with your money.