10804144Math of Finance
Course Information
Description
Students will create financial timelines to solve financial problems. They will solve problems involving simple and compound interest. Students will use discounting to solve problems. They will calculate the components of ordinary and complex annuities. Students will solve problems using financial formulas and financial calculators. Finally, students will use descriptive statistics and spreadsheet applications to interpret financial data.
Total Credits
3
Prior Learning Assessment
  • Exam-College Developed Challenge Exam
Course Competencies
  1. Perform statistical calculations
    Assessment Strategies
    Math Assessment with Consumer/Business/Finance Applications with a Calculator
    Criteria
    you interpret charted data
    you construct charts/graphs
    you determine the appropriate chart given the raw data
    you calculate measures of central tendencies
    you interpret measures of dispersion
    you use statistics to solve business/consumer/finance scenarios
    you answer with the precision of terms appropriate to the problem
    you answer in the correct units of measure and labels

  2. Solve simple interest scenarios
    Assessment Strategies
    Math Assessment with Consumer/Business/Finance Applications
    Criteria
    you identify the characteristics of simple interest
    you compute principal, rate, or time using simple interest formula
    you determine due date of a promissory note
    you compute maturity value, principal, rate, and time using maturity value formula
    you determine present and future values
    you use simple interest to solve business/consumer scenarios
    you apply partial payment methods
    you answer with the precision of terms appropriate to the problem
    you answer in the correct units of measure and labels

  3. Solve simple (bank) discounting scenarios
    Assessment Strategies
    Math Assessment with Consumer/Business/Finance Applications
    Criteria
    you identify the characteristics of simple discount
    you compute maturity value, bank discount, discount rate, or time using appropriate formula
    you determine due date of a simple (bank) discount note
    you determine proceeds of a simple (bank) discount note
    you differentiate between simple interest rate and simple (bank) discount rate
    you re-discount a simple (bank) discount note
    you calculate Annual Percentage Rate
    you use simple (bank) discount to solve business/consumer scenarios
    you answer with the precision of terms appropriate to the problem
    you answer in the correct units of measure and labels

  4. Solve compound interest scenarios
    Assessment Strategies
    Math Assessment with Consumer/Business/Finance Applications with a Financial Calculator
    Criteria
    you convert between percents, decimals, fractions
    you identify the base, rate and amount in problem
    you compute the base, rate, or amount
    you use percentages to solve business/consumer scenarios
    you solve percent increase/decrease scenarios
    you solve compound discount scenarios
    you answer with the precision of terms appropriate to the problem
    you answer in the correct units of measure and labels

  5. Solve annuity scenarios
    Assessment Strategies
    Math Assessment (Test) with Consumer/Business/Finance Applications with a Financial Calculator
    Written Product (Annuity Required Packet)
    Criteria
    you identify the characteristics of an annuity
    you differentiate between the present and future value of an annuity
    you calculate the present and/or future values of an annuity
    compute any unknown from given knowns in annuity scenarios
    you apply ordinary annuity calculations to business/consumer/financial scenarios
    you apply annuities due calculations to business/consumer/financial scenarios
    you apply deferred annuity calculations to business/consumer/financial scenarios
    you apply complex annuity calculations to business/consumer/financial scenarios
    you apply forborne annuity calculations to business/consumer/financial scenarios
    you answer with the precision of terms appropriate to the problem
    you answer in the correct units of measure and labels
    you successfully earn at least 50 percent of the available points on the Annuity Required Packet

  6. Solve amortization scenarios
    Assessment Strategies
    Math Assessment (Test) with Consumer/Business/Finance Applications Using a Financial Calculator and Spreadsheet Software
    Written Product (Mortgage Required Packet)
    Criteria
    you calculate a loan payment
    you calculate the amount of a sinking fund payment.
    you calculate the future value of the sinking fund
    you calculate the periodic interest associated with a sinking fund
    you create amortization tables are created manually and via spreadsheet
    you answer with the precision of terms appropriate to the problem
    you answer in the correct units of measure and labels
    you successfully earn at least 50 percent of the available points on the Mortgage Required Packet