About Business Algebra
Business algebra is a collection of math articles introducing algebra and the mathematical applications that can be solved with its use. Functions are defined and it is explained how to determine if a set of ordered pairs defines a function or not. Lines and linear functions are defined and graphs are sketched using various forms of the equation of a line. Quadratic functions are polynomial functions of degree 2 and are usually studied after linear functions. The method of completing the square is detailed and it is shown that completing the square of the general quadratic equation leads to the quadratic formula. Graphing quadratic equations, including intervals of increasing and decreasing, vertex, line of symmetry, and maximum and minimum values are also illustrated.
Functions. Polynomial and rational functions are defined and analyzed, including graphing, determining intervals of increasing and decreasing, domain and range, intercepts, and vertical and horizontal asymptotes. Exponential functions are used throughout the sciences and are particular useful in business applications. For example, most banks in the world use the exponential function with simple and compound interest. We then concentrate on decay and growth models, which are two different types of exponential functions, and we emphasize graphs and the properties exponential. We also show by example how to solve exponential equations.
Simple Interest and Compound Interest. Simple interest and compound interest is explained through a series of problems and examples. Compounding continuously and the annual percentage rate is also worked on. Attention is given to the problem of finding the doubling time for an investment.
Annuities. Annuities differ from simple and compound interest problems in that payments are made on a regular basis; for example, monthly, quarterly, semiannual or yearly payments. We also illustrate future and present value of annuities using several examples. Also discussed are sinking funds: if a borrower makes periodic deposits that will produce a specified amount on a later specified date, then this borrower has established a sinking fund.
Cite this as:About Business Algebra
Published by Library of Math -- Online math organized by subject into topics.
Written by Smith, David A.
http://www.libraryofmath.com/about-business-algebra.html
