MATHEMATICS 114 FALL 2011
MATHEMATICS FOR THE CONSUMER
Professor: Dr. Robert P. Webber
Office and hours: Ruffner 332. MF, 2:00  3:00; T, 1:30  3:00; and by appointment or coincidence. I am not normally on campus on Thursday.
Telephone and email: 3952192; webberrp@longwood.edu
Course description: An introductory course designed to acquaint the student with applications of mathematics in the life of the consumer. Special attention will be given to the algebraic derivation of formulas, the reduction of real life situations to mathematical models, and the mathematics employed in banking, credit, taxes, insurance, installment buying, and annuities.
Text: Biehler, The Mathematics of Money 2/e. Lulu, 2010.
Calculator: You will need a calculator. The TI30 or better is highly recommended for this class. It is your responsibility to know how to use your calculator. Bring it to class each day. I will assume you have it for group work, quizzes and tests.
Course objectives: The student will
Grades: Your course grade will be determined as follows.
3 tests, 1 composite quiz grade
...drop lowest of these 4 ......... 48% of the final grade
Class participation (group work) ............................................ 15% of the
final grade
Writing assignment(s)
............................................................. 15% of the final
grade
Final exam
.............................................................................
22% of the final grade
90100, A; 8090, B; 70  80, C; 60  70, D; below 60, F. Plus and minus grades will ordinarily be given for grades in the upper 2 and lower 2 points, respectively, of each range.
Homework: Homework is assigned regularly, and everyone is expected to do it. Homework will not be collected without warning, and it is your responsibility to do the assigned problems. Feel free to work with others on homework, and ask me about problems you cannot solve.
Quizzes: Given frequently (but not every day), quizzes are given at the start of the period. They are intended to see if you have read the material and done the simple exercises. Quizzes are always short, and they are open book and notes. Often they will be taken directly from the homework. Quizzes that are missed for any reason cannot be made up. You may miss one quiz without penalty, but you will be assigned a grade of 0 for any additional quizzes that you miss.
Class participation: Often you will be asked to work in groups in class. Working in small groups of three or four, you will be asked to solve a problem and present your results to the class. Missed class participation sessions cannot be made up, but you will be allowed one absence from a class participation session without penalty. You will receive a grade of 0 for each additional missed session.
Writing assignments: As a general education course, Math 114 will require more writing than in some nongeneral education mathematics courses. There will be at least one writing assignment in this course. Writing assignments will be graded both for mathematical correctness and for writing style. More details and a grading rubric will be provided with the assignments.
Attendance: Your attendance is expected at all classes. Makeup tests will be given reluctantly, and then only upon presentation of a doctor's excuse. Makeup test are always more difficult than regular tests, regardless of the reason for absence. You may not make up missed class participation sessions nor quizzes.
Do not leave in the middle of a class, even to get a drink of water or to answer your cell phone. Students who leave in the middle of class for any reason disrupt the class and break the teacher's concentration.
Honor code: I subscribe to the
Tentative schedule:
Week 
Dates 
Sections/Topics 
1 
Aug 22 – 26 
1.1,
1.2: Decimals, percents, I = Prt 
2 
Aug 29 – Sep 2 
1.3, 2.1: I = Prt, ordinary vs. exact time, discount 


Labor Day September 5 – no classes 
3 
Sep 7 – 9 
2.2, 3.1: Discount, compound interest 
4 
Sep 12 – 16 
3.2: compound interest, review, TEST 
5 
Sep 19 – 23 
3.3, 3.4, notes: Effective rate, progressions 
6 
Sep 26 – 30 
Notes, 4.1, 4.2: Progressions, future value of annuity 
7 
Oct 3 – 7 
4.3, 4.4: Sinking funds, present value 


Fall Break October 10  11 
8 
Oct 12 – 14 
Review, TEST 
9 
Oct 17 – 21 
4.5, 5.1: Amortization tables, spreadsheets 
10 
Oct 24 – 28 
5.2 – 5.4: Spreadsheets 
11 
Oct 31 – Nov 4 
9.1, 9.2: Markup, markdown 
12 
Nov 7 – 11 
Catch up, review, TEST 
13 
Nov 14 – 18 
Notes: Auto insurance 
14 
Nov 21 
10.1: Credit cards 


Thanksgiving break November 23 – 25 
15 
Nov 28 – Dec 2 
14.3: Leasing; review 
EXAM 
Fri Dec 9 
3:00 – 5:30 p.m. 