MATH 1091 - Business Mathematics

Course Description

Students are introduced to mathematics of management, which includes such concepts as simple interest, discounts, present value, time value of money, compound interest, annuities, sinking funds, capitalized cost, and bonds and stocks. This course assumes no prior knowledge of the mathematics of finance, as each of the topics is presented in astep-by-step manner, with examples provided.

Learning outcomes

• Clearly define the different ways in which interest on money can be calculated.
• Explain the meaning of the following terms: simple interest, compound interest, equivalent rates of interest, promissory and demand notes, annuities, perpetuities, capitalized cost, depletion allowances, and stocks and bonds.
• Undertake the necessary computations for problems of interest, annuities and perpetuities, capitalized cost, depletion allowances, and stocks and bonds.
• Use the results of mathematical calculations to help evaluate various options in reaching financial decisions, whether personal or business-related.
• Evaluate and select financial arrangements which are best for you as a consumer.

Course topics

• Unit 1: Simple Interest
• Unit 2: Compound Interest
• Unit 3: Simple Annuities
• Unit 4: General Annuities
• Unit 5: Debt Reduction, Sinking Funds, Capitalization, and Wasting Assets
• Unit 6: Stocks and Bonds

Required text and materials

Students are responsible for purchasing the required materials on their own:

• Hummelbrunner, S. A., Halliday, K., & Hassanlou, A. R. (2025). Contemporary Business Mathematics with Canadian Applications (13^th ed.). Pearson Canada. 
  Type: E-Textbook. ISBN: 978013896776

NOTE: This item can be purchased directly from the following link.

Additional requirements

Students will need a calculator with these financial functions: power, reciprocal, natural logarithmic, memory.

Assessments

To successfully complete this course, students must achieve 50% or higher on the overall course and 50% or higher on the final mandatory examination.

Note: The final exam for this course is only available as a paper exam and must be taken in person at an approved Testing Centre. Please email exams@tru.ca with any questions.

Prerequisites

Pre-calculus 11; or

Foundations of Mathematics 12; or

MATH 0523

Exclusions

MATH 1070

MATH 1071

MATH 1100

MATH 1101

Note:Science students do not receive credit for MATH 1091