CIMA C03 Fundamentals of Business Mathematics Financial mathematics
CIMA C03 Fundamentals of Business Mathematics Financial mathematics: This course is designed for Business and Economic students. Topics include the review of linear and non-linear functions and models (including cost, revenue, profit, demand and supply), solving linear and non-linear systems of equations, matrices, linear programming, difference equations and mathematics of finance (including simple and compound interest: discrete and continuous, annuities, mortgages, loans).
Objectives
On completion of the course students will be expected to:
- understand and interpret functions as relations between two quantities in three basic mathematics contexts: symbolic, numerical and graphical;
- develop a multi-disciplinary knowledge base with an interdisciplinary perspective of mathematical areas;
- develop critical thinking and problem-solving skills that enable a student to solve problems in a variety of applied situations;
- develop a knowledge base for applications of mathematics of finance.
Course Outline
Unit 1: Basic Algebra, Functions, and Graphs
Working with algebraic expressions and equations (Chapters 0 and 1)
- perform basic operations with expressions, including factoring
- solving basic linear and quadratic equations
Functions and Graphs (Chapter 2)
- identify functions
- identify and understand the significance of the domain and range of functions
- find the inverse of a function
- use translations and reflections to sketch graphs of functions
Unit 2: Lines, Parabolas, Systems, Exponential and Logarithmic Functions
Modeling using linear and quadratic functions (Chapter 3)
- work with linear functions using slopes and points on lines to model situations and solve problems
- identify parallel and perpendicular lines
- use linear models to model cost, revenue, profit, demand, supply, break?even points, and equilibrium points
Solving systems of equations (Chapter 3)
- write systems of two equations in two unknowns to model situations
- solve two by two systems and interpret solutions
Exponents and logarithms (Chapter 4)
- simplify and manipulate exponential and logarithmic expressions
- write exponential expressions in logarithmic form
- write logarithmic expressions in exponential form
- solve exponential and logarithmic equations
- sketch graphs of exponential and logarithmic functions
Unit 3: Matrices and Linear Programming
Matrices (Chapter 6)
- perform basic arithmetic operations on matrices
- perform matrix multiplication
- solve systems by reducing matrices
- find the inverse of a matrix
- solve systems using the inverse of a matrix
Linear Programming (Sections 7.1-7.3)
- find solutions to systems of linear inequalities by sketching graphs
- find optimal solutions to two-variable linear programming problems geometrically
Unit 4: Finance
Basic Mathematical Finance (Chapter 5)
- use the compound interest formula to calculate accumulated amounts, compound interest, principal, rate, and time
- calculate effective rates of interest
- find the present value of an investment
- use equations of value to solve problems involving time value of money
- use formulas for continuously compounded interest
- use formulas for present value of an annuity and future value of an annuity to solve problems involving ordinary annuities and annuities due
- calculate the payments to be placed into a sinking fund
- calculate amortization schedules
Difference Equations (Chapter 11 of Goldstein, Schneider, Siegel, Finite Mathematics and Its Applications)
- analyze difference equation by calculating terms, sketching a graph, and discussing long term behaviour of the terms
- solve difference equations
- use difference equations to model situations involving finance: compound interest, mortgages, loans, and annuities.
- use difference equations to model other simple situations
CIMA C03 Fundamentals of Business Mathematics Financial mathematics :
CIMA Operational Level E1 question papers and suggested answer
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CIMA C03 Fundamentals of Business Mathematics Financial mathematics :
CIMA Operational Level F1 question papers and suggested answer
Exam | F1 financial operations |
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