Introduction to Business Mathematics

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Introduction to Business Mathematics or you are progressing through the aMAZEing Math Maze.  Either way, I'm here to help.  We'll start with the math maze - but if you came for the introduction, that's at the bottom of this page.

Question #13

Bob put $20 in a savings account each month.  He currently has $200 in the account.  Jane has $400 in her account but she withdraws $30 a  month.  If Bob and Jane continue at this rate, how many months before they have the same amount of money in their savings accounts?

                    A)  4 months

                     B)  5 months

                     C)  10 months

                     D)  20 months

Introduction to Business Mathematics

Introduction to Business mathematics is usually thought of as the course you take if you don't want to take math.  It usually consists of arithmetic, basic algebra and a sprinkling of statistics.  There are of course exceptions.  For instance, there are courses in business calculus that can be challenging as well as some of the statistics courses.

If your plan is actually to go into the business world, you probably need to know a lot more mathematics than you are likely to get in the simple business math courses.  If you're going to succeed in business, you are going to need to foresee problems that may come.  You will need to make projections based on solid data that you have accrued.  All of that takes very advanced mathematics.  You can hire people to do that for you - but, if they are any good, it is likely that they will end up owning the business.

As you progress through school, you will rapidly discover that the phrase "When will I ever use this?" was not really a good one.  As I write this, I truly believe, that everyone would be more successful if they knew as much mathematics as they could.  And the phrase - "I'm no good at math."  Is just a way of giving up on something that may not come to you the minute you open a book.  Some people have to work harder to learn mathematics than others.  We all use forms of mathematics.  Whether it's predicting future events based on the past, or figuring out how much and how often you have to pay for gas.

O'k, having said all that - you probably still want information on business math.  After being out of school for over 30 years, I decided I would like to become a high school mathematics teacher.  I depended largely on the dummies books.  There seems to be a dummies book on just about any subject you can think of including business mathematics for dummies.  Although I hope this changes, I do not get a kick back for recommending them.  

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