FORM : 104/01-F05/INT/LTN REV : 0

INSTITUT TEKNOLOGI PERTAMA
Programme Name Module Name Module Leader Name Internal Verifier Name FOUNDATION IN BUSINESS BUSINESS MATHEMATICS Module Code Assessment Type / Reference No. Lead Officer (Assessment Committee) Student Identification IC/Passport No. I hereby certify that this assignment is my own work and where materials have been used from other resources, they have been properly acknowledged. I also understand I will face the possibility of failing the module if the content of this assignment are plagiarized. Signed: ________________________  Outcome(s) / Assessment Criteria covered  Date: _________________ PMT 1353 ASSIGNMENT MR LEE HAR SAN

Ms NG SIEW FENG MR LEE HAR SAN

Student Name

Student’s declaration

LOC 1: Use the knowledge of key mathematical concepts and topics and applying them to the solution of business problem. LOC 2: Identify business problems, abstract the essentials of problems and formulate them mathematically and in symbolic form so as to facilitate their analysis and solution. LOC 3: Use mathematical concepts to analyze multidisciplinary data and to integrate these into a problem solving process. Submission Due Date Student’s work assessed by / date 31/03/2014 Marks obtained



03/03/2014 Release Date

Date Received

FORM : 104/01-F05/INT/LTN REV : 0

Module Leader’s Feedback. Module Leader’s comments / feedback

Student’s comments

FORM : 104/01-F05/INT/LTN REV : 0

Coursework Policies 1. All coursework submitted must include a. b. a copy of the full brief given by the Module Leader (with the signed coversheet) all source material must be cited in the text and a full bibliography of source material (including author, title, publisher and date) listed at the end of the submission)

2. 3.

All work must be submitted in the mode instructed by the Module Leader. Work submitted under the student’s name must only be the work of that student. All information sources must be acknowledged. Plagiarism is a serious offence and will render offenders liable to disciplinary action as set out in the rules and regulation of the institution. Students MUST keep a copy of all submitted work for reference purposes prior to the original being handed in and returned. This will provide proof that the work was completed, in the event that the work goes astray. Whenever a candidate submits work after approved deadline without an authorised extension, a mark of zero (0%) will be awarded. Module Leader may comment on the quality of the work for learning purposes. Requests for extensions of submission deadlines must be made in writing prior to the submission deadline to the Module Leader and must be supported by documentary evidence.

4.

5.

6.

FORM : 104/01-F05/INT/LTN REV : 0

Grading Criteria Used To Assess Work Grade Range of marks Grading Descriptors  Exceptional high quality work  Excellent command in the subject matter  Showing excellent knowledge  Tightly argued work  Well formulated arguments based on the strong and authentic evidences such as diagrams, tables, charts etc……..  High level of innovativeness and creativity  Originality of work and excellent critical thinking  Excellent communication and presentation skills  Medium to high quality work  A very good command in the subject matter  Showing a very good knowledge  Well argued work  A very well presented evidences such as diagrams, tables, charts etc……..  Evidence of innovativeness  Little originality of work and good critical thinking  Good communication and presentation skills  Work of acceptable quality  Knows the subject at acceptable level  Showing a basic knowledge and understanding  Acceptable form of presented evidences such as diagrams, tables, charts etc……..  Very little originality of work  Adequate communication and presentation skills  Work of unacceptable level  Lack of knowledge in the subject  Lack of necessary knowledge and understanding  Disorganised presentation of evidences such as diagrams, tables, charts etc……..  No originality of work and critical thinking  Poor communication and presentation skills

A

80 – 100

A-

75 – 79

B+

70 – 74

B

65 – 69

B-

60 – 64

C+

55 – 59

C

50 – 54

CD+ D F

45 – 49 40 – 44 30 – 39 0 – 29

FORM : 104/01-F05/INT/LTN REV : 0

ASSESSMENT CRITERIA AND GRADING SHEET
(a)
No. Breakdown of assessment criteria

(b)
Weight (%)
A B

(c)
Range of achievement ()
C D F

(d)
Marks Awarded (%)

(e)
Weighted Marks (b) x (d)

1

2

Show working and find out the nth term and sum of the nth term for 8% arithmetic sequences. Able to find the nth depreciation accumulated depreciation and book 8% value. Show working and find out the nth term and sum of the nth term for 8% geometric sequences. Able to show working and find the simple interest and simple amount. 9% Able to use correct formula and show working to find out the 9% principle, interest rate and investment period. Use correct formula and show working to find out simple interest 8% with 4 basic concepts. Able to calculate future values with different frequency of conversions 14% Able to use correct formula and show working to find future value 13% by using simple interest and compound interest Able to use correct formula and show working to find present and 15% future value in annuities. Able to solve the “R”, “n”, and “I” for the annuities. TOTAL 8%

3

4 5

6

7

8

9

10

100%

Key to marking ranges: A 75 – 100 B 60 – 74 C 50 – 59 D 30 – 49 F 0 – 29

FORM : 104/01-F05/INT/LTN REV : 0

Topics Covered: 1. Arithmetic and Geometric Sequences 2. Simple Interest 3. Compound Interest 4. Annuity
1. 2. Assignment Title : Business Mathematics Problems Learning Outcome(s) covered : i. Use the knowledge of key mathematical concepts and topics and apply them to the solution of business problems. ii. Identify business problems, abstract the essentials of problems and formulate them mathematically and in symbolic form so as to facilitate their analysis and solution. iii. Use mathematical concepts to analyze multidisciplinary data and to integrate these into a problem solving process. 3. Programme Learning Outcome(s) and Programme Objective(s) covered : Programme Learning Outcome(s) covered: i) Explore the theories and concepts of business to future environments. ii) Interact with relevant stakeholder of the society. iii) Identify, analyze responsibilities and complete the tasks assigned. iv) Develop a written communication that presents information in an organized and concise manner. v) Identify the relevant facts and assumptions related to an ethical dilemma. vi) Understand how to develop and manage a team. vii) Perform fundamental quantitative business analysis techniques. viii) Evaluate data and information then use them in decision making in organization. ix) Use effectively knowledge that have been leant when they pursue their studies in higher education.

Programme Objective(s) covered: i) To give students an understanding and exposure to the basic theories and problems of business mathematics. ii) To provide a foundation and exposing students to business mathematics which is applicable later in the finance and accounting modules.

FORM : 104/01-F05/INT/LTN REV : 0

4. i.

Scenario/Introduction/Background Information: The concept of Arithmetic and Geometric Sequences is utilizes in rewarding their employees for Multi level marketing in direct selling business. Those in the up lines obtain higher incomes through overriding commissions compared to those in the down lines such as supervisors and agent. To earn a high income, an employee must attempt to reach the very top level so as to enjoy the overriding commissions over the down lines.

ii.

Basically Simple Interest topic provides basic ideas of simple interest which can be useful for investment and making final decisions. Investors want high returns in their investments as well as savings in banks and other financial institutions. They try to invest in funds and accounts that give them high interest and return. When a company needs to obtain loan for its expansion and to increase its investments, it would look for the cheapest loan in terms of low interest so that it can save in terms of interest payments.

iii.

Compound Interest is calculated on the original and accumulated past interest. When you borrow money from a bank, you pay interest. If you want to know how much interest you will earn from your investment or how much you will pay above the cost of the principal amount of a loan.

iv.

Annuity is a series of equal payments made at equal intervals of time. Examples of annuity are shop rentals, insurance policy premiums, installment payments.

5. Q1

Tasks : An arithmetic sequence is given as follows -25, -20, -15,…………..100 a) b) c) Find the number of terms in the sequence Find the 16th term Find the sum of the sequence (3m) (2m) (3m)

Q2

A van is costing RM180,000 depreciates RM10,000 for the first year RM9,000 for the second year RM8,000 for the third year and so on until its annual depreciation is zero.

FORM : 104/01-F05/INT/LTN REV : 0

a) b) c)

What is the depreciation for the 10th year? What is the accumulated depreciation at the end of 10 years?

(3m) (3m)

What is the book value (cost – accumulated depreciation) of the (2m) equipment at the end of 10 years?

Q3

A high-rise building has 30 floors. A cleaning company charges RM20 to clean the first floor and the company estimates that the cleaning cost of a floor will increase by 1% every floor. Determine a) b) c) type of sequence that can be used to estimate the cleaning cost. the cleaning cost for the 15 floor. the total cleaning cost for the first 15 floors. th (2m) (3m) (3m)

Q4

Find simple interest earned and simple amount, for the following investment: a) b) c) RM6500 for 7 years at 3.75% per annum. RM500 for 35 weeks at 5.5% per annum. RM800 for 30 months at 4% per annum. (3m) (3m) (3m)

Q5

a)

Peter needs RM10,000 in four years time. Find the amount that he (3m) must save from now so that he can accumulate RM10,000 if the interest rate is 7% per annum.

b)

A loan of RM3,000 will become RM3,500 after 3 years. Find the (3m) simple interest rate by using the Banker’s Rule.

c)

How long does it will make RM7,000 to become RM21,000 if the (3m) simple interest rate is 6% per annum ?

Q6

On 1On 13 July 2013, RM 6,688 was saved at 3.15% per annum simple interest. Find the interest earned on 29 January 2014, using a) b) c) d) Exact time and exact simple interest. Exact time and ordinary simple interest. Approximate time and exact simple interest. Approximate time and ordinary simple interest. (2m) (2m) (2m) (2m)

FORM : 104/01-F05/INT/LTN REV : 0

Q7 a) b) c) d) e) f) g)

Find the future values for the following investments; RM1, 050 at 3.15% compounded annually for 6 years. RM3,200 at 8% compounded semi annually for 51/4 years. RM4,500 at 12% compounded quarterly for 7 years. RM850 at 6% compounded monthly for 3.75 years. RM700 at 12% compounded every 2 months for 4 years 3 months. RM 525 at 9% compounded daily for 180 days. RM1266 at 8% compounded every 4 months for 3.25 years.

(2m) (2m) (2m) (2m) (2m) (2m) (2m) (2m)

Q8

a)

RM 8,500 is invested for 5 years 3 months. This investment if offered (8m) 6% compounded semi-annually for the first 2.5 years and 6 % compounded quarterly for the rest of the period. Calculate the future value of this investment.

b)

William wishes to borrow some money to buy a house. He has (5m) received two different offers: AMbank : offer 8% compounded quarterly CIMBank : offer 9% simple interest Which offer should he choose?

Q9 a) b) c)

Find the future values and present values for the following annuities: RM2,900 every year at 6.5% compounded annually for 4 years. RM2800 every month at 8% compounded monthly for 3.5 years. RM300 every 3 months at 12% compounded quarterly for 5 years. (5m) (5m) (5m)

Q10

a)

Find the amount to be invested every six months at 12% compounded (4m) semi annually to accumulate RM20, 000 in 2 years. What is the interest earned?

b)

Richard has to pay RM660 every month for 60 months to settle a car (4m) loan at 4.5% compounded monthly. Find the original loan and total interest that he has to pay.

FORM : 104/01-F05/INT/LTN REV : 0

6. Information Sources :
i) Cleaves, Cheryl & Hobbs, Margie (2002) Business Mathematics, 6th ed. Prentice Hall. ii) Cleaves, Cheryl and Hobbs, Margie (2005) Business Math, 7th ed. Prentice Hall iii) Francis, A. (2000) Business Mathematics and Statistics, 4th ed DP Publications Sdn Bhd.. iv) Lau Too Kya, Wee Kok Kiang (1996) Business Mathematics for ITM, Penerbit Fajar Bakti, Kuala Lumpur v) Lau Too Kya, Phang Yook Ngor and Wee Kok Kiang (2009) Business Mathematics Oxford Fajar, Kuala Lumpur

7.

Instructions to Students:
a. This assignment counts for 20% of the final grade. b. You must take responsibility for managing your own time effectively. Don’t leave things to the last minute – excuses of this nature will not be accepted for failure to hand-in the work on time. c. LATE ASSIGNMENT WILL NOT BE ACCEPTED. d. You are to ensure that adequate measures are taken carefully. Check answers to individual question before submission, so that all are done according to requirements. e. PLAGIARISM and COPYING are prohibited and COLLUSION must never be attempted. If there is any evidence of these and you are proven to practice plagiarism, coping or collusion in completing your assignment, you will be given a FAIL grade for this piece of work. You will then be reported to the examination board and be subjected to disciplinary actions. Your final result will then depend on the outcome and decisions of the Disciplinary Board. If you are not clear about what type of work will be regarded as plagiarism, copying or collusion please consult me.

Written Presentation Requirements: 1. All answers must be submitted by using A4 paper. 2. Drawing or figures (if any) must be clear and legible. 3. Assignment will be judge and graded by the following criteria: accuracy of the answers, working shown accordingly and the basis of visual appearance Outcome – Assessment Mapping
Learning Outcomes No. Assessment Methods LOC 1 LOC 2 LOC 3 PROGRAMME OUTCOME PROGRAMME OBJECTIVE

1 2 3 4 5

Assignment Test Quiz Mid Semester Examination Final Semester Examination

√ √ √ √ √

√ √ √ √ √

√ √ √ √ √

1, 2, 3, 4, 7, 8, 9 1, 2, 3, 4, 7, 8, 9 1, 2, 3, 4, 7, 8, 9 1, 2, 3, 4, 7, 8, 9 1, 2, 3, 4, 7, 8, 9

1, 2 1, 2 1, 2 1, 2 1, 2

FORM : 104/01-F05/INT/LTN REV : 0