Business Mathematics

Specialized Subject – ABM

Prepared by: Emmalou Shane F. Estrada, CoE

 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

MSMI’s VISION AND MISSION STATEMENT

VISION MISSION
A community of morally upright and We commit ourselves to:
highly competent citizens for quality 1. Provide relevant, diverse, quality
service. educational services for the
development of multiple
competencies and skills of
individuals.
2. Serve generously with love and
compassion for the integral
development of competent and
community service-oriented citizens.
3. Promote the culture of faith, love
and respect through active
participation in the Basic Ecclesial
Communities and other spiritual
formation activities.

LEARNING MODULE GUIDE

Every child is freely given an access to quality education. In connection,
this learning module is designed to cater your learning needs while you are
in the comfort of your homes. The goal in providing you these learning
materials is to help you maximize your potentials as you continue to gain
knowledge and develop deeper understanding on various concepts. This aims
to develop you to become independent and responsible individual as you go
through the different learning experiences. Here are the guidelines that will
direct you throughout this journey:
1. Read thoroughly the preliminaries and guidelines of your modules before
answering it.
2. Follow your class schedule that will be given by your class adviser.
3. Budget your time wisely.
4. Read directions carefully to avoid misconceptions and errors.
5. Make sure NOT to leave any activity unanswered.
6. Discussion and teacher-interaction will be available during your virtual
classes. Make sure not to miss any opportunity.
7. Accomplish all the task presented in your learning modules.
8. Submit your modules on time.
2

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

9. Lastly, as an independent learner, you are expected to personally

answer your activities but you are permitted to seek help and guidance
from your other family members.

___________________________________
Learner’s Signature Over Printed Name

POLICIES FOR ASSESSMENT

1. Read all instructions properly and answer all the activities provided in
your modules.
2. Do and submit all the task required for every module both written and
performance.
3. Answer all the graded assessments and activities.
4. Accomplish your Unit tests and Quarterly assessments.

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

COMMISSIONS AND INTERESTS

(Duration: Week 1 – 5)

Learning Objectives:
At the end of the lesson, I can …..
❖ Calculate the following:
o Straight commission earnings
o Salary – plus – commission
o Commission earnings based on quota
o Graduated commissions
❖ Illustrate the different types of commissions
❖ Solve investment problems using simple interest and compound interest
❖ Differentiate future value from present value
❖ Understand the concept of annuity
❖ Find the future value of an annuity
❖ Solve problems on sinking funds
❖ Compute present value of an annuity
❖ Determine amortization payments
❖ Solve problems on car loans and home mortgages
❖ Illustrate how interest is computed on deposits and loans

Multiple Choice: Encircle the letter of the correct answer.

Kimilara Enterprises manufactures a mobile phone accessory with fixed cost

Php 10,560 and variable cost at Php 34. The price of the accessory is given
as Php 100.

1. Which equation represents the revenue function R(x)?

a. R(x) = 34x b. R(x) = 100x
c. R(x) = 134x d. R(x) = 10,560x

2. Which equation represents the total cost function C(x)?

a. C(x) = 34x + 10560 b. C(x) = 100x + 10560
c. C(x) = 134x + 10560 d. C(x) = x + 10560
4

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

3. Which equation represents the profit function P(x)?

a. P(x) = 100x - 34x + 10560
b. P(x) = 100x - 34x - 10560
c. P(x) = 100x + 34x + 10560
d. P(x) = 100x + 34x - 10560

4. At what level of production will they break – even?

a. 146 units b. 100 units
c. 79 units d. 160 units

5. How much profit will be earned if they sell 500 units?

a. Php 77,560 b. Php 56,440
c. Php 22,240 d. Php 43,500

Commissions and interest are common ways to earn money. A

commission is generally a percentage of the selling price of an item while
interest refers to money received for letting someone use your money.

COMMISSIONS
(Duration: Week 1)

A commission is a payment used

mainly for salespeople. Many
companies have employees who are
paid either totally or partially on a
commission basis. People who sell
insurance, real estate, and automobiles typically are in this category. The
commission paid is usually calculated as a percentage of the value of goods
sold.

COMMISSION AND TOTAL PAY

Commission = Amount Sold x Rate of Commission
Total Gross Pay = Salary + Commission
5

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

Example 1:
A salesman sells a used car for Php 95,000. His commission rate is 4%.
What will be his commission for the sale?
Solution:
Commission = Amount sold x rate of commission
= 95,000 x 0.04
= 3,800

Example 2:
Maria, a computer salesperson is paid a retainer’s fee of Php 5,350 per
week, plus a commission of 8% of the profits made by the company on
computers that she sells. How much does she earn in a week if Php 15,000
profit was generated by her sake?

Solution:
Commission = Amount sold x rate of commission
= 15,000 x 0.08
= 1,200

Total gross pay = Salary + Commission

= 5,350 + 1,500 x 0.08
= 5,350 + 1,200
= 6,550

COMMISSION BASED ON QUOTA AND TOTAL PAY

Commission = (Amount Sold – Quota) x Rate of commission
Total Gross Pay = Salary + Commission

Example:
Juan works as a salesman in an electronic shop. He earns a weekly
salary of Php 4,250 plus a 3% commission on sales over Php 20,000 per
week. If Juan’s sales in one week reaches Php 35,000, what are his gross pay
for the week?
Solution:
Commission = (amount sold – quota) x rate of commission
= (35,000 – 20,000) x 0.03
= 450
6

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

Total gross pay = salary + commission

= 4,250 + 450
= 4,7000

COMMISSION UNDER A GRADUATED RATE PLAN

• Calculate each level’s commission; multiply each level’s sales by the
level’s commission rate.
• Add the products computed in calculating each level’s commission to
determine the total commission.

Example:
Sonia works as a salesperson. She earns 5% commission on the first
Php 10,000 of sales, and 8% on any sale above Php 10,000 for the week.
How much did Sonia earn in commission in a week if her sales reaches Php
25,000.?

Solution:
Commission 1 = 10,000 x 0.05 = 500

Commission 2 = (25,000 – 10,000) x 0.08

= 1,200

Total Commission = 500 + 1,200

= 1,700

Hence, Sonia earned Php 1,700 commission in a week.

INTEREST
(Duration: Week 2-3)

Interest is calculated as a percentage

of a loan (or deposit) balance, paid to
the lender periodically for the privilege
of using their money. The amount is
usually quoted as an annual rate, but
interest can be calculated for periods
that are longer or shorter than one year.
7

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

Interest on loans of a year or less is frequently calculated as simple

interest, a type of interest that is charged on the amount invested (or
borrowed) and not on past interest. The amount borrowed is called the
principal. The rate of interest is given as a percentage per year,
expressed as a decimal. The time the money is earning interest is calculated
in years. If the money is invested for one year, interest is calculated by
multiplying the principal times the interest rate. If the time that the money
earns interest is other than one year, we multiply the interest for one year by
the number of years.

SIMPLE INTEREST
I = Prt
Where:
I – simple interest earned
P – principal
r – interest rate
t – time

Example:
Suppose an investment of Php 10,000 for 5 years earns 7% simple
interest. Find the simple interest earned.

Solution:
I = Prt
= (10,000)(0.07)(5)
= 3,500

Three years after investing Php 150,000, a retired couple received a

check amounting to Php 29,250 in simple interest. Find the annual interest
rate their money earned during that time.

Solution:
I = Prt
We then derived the formula to find interest rate (r)
𝐼
𝑟= 𝑃𝑡
29,250 29,250
𝑟= = = (0.065)(100) = 6.5%
(150,000)(3) 450,000
8

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

FUTURE OR MATURITY VALUE FOR SIMPLE INTEREST

A = P(1+rt)
Where:
A – future or maturity value
P – principal
r – interest rate
t – time

Example:
Find the maturity value for a loan of Php 25,000 to be repaid in 8 months
with interest rate of 4.3%.

Solution:
A = P(1+rt)
8
= 25,000(1+(0.043)(12))
= 25,000(1+0.028667)
= 25,716.68
25, 716.68, the maturity value; 25, 716.68 – 25,000 = 716.68, represents
interest.

Maria wants to borrow Php 8,000 from their credit cooperative. She
needs to pay back Php 8,180 in 6 months. What interest rate will she pay?

Solution:
A = P(1+rt)

We derived the formula to get r:

𝐴−𝑃
𝑟= 𝑃𝑡
8,180−8,000
𝑟= 6
(8000)( )
12
180
𝑟= = (0.045)(100) = 4.5%
4,000
9

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

PRESENT VALUE FOR SIMPLE INTEREST

𝐴
𝑃=
(1 + 𝑟𝑡)

Where:
A – future or maturity value
P – principal or present value
r – interest rate
t – time

Example:
Find the present value of Php 320,000 in 4 months at 9% interest.

Solution:
𝐴
𝑃 =
(1 + 𝑟𝑡)
320,000
𝑃 =
4
(1 + (0.09) (12))
320,000
𝑃 =
(1 + 0.0225)
320,000
𝑃 = = 312,958.44
1.0225

If Php 5,000 is deposited in an account that pays 4% interest

compounded annually, how much money is in the account after 9 years.

Solution:
After one year, the account balance is
5,000 + 4% of 5,000 = 5,000 + (0.04)(5,000)
= 5,000 + 200
= 5,200

After two years, the account balance is

5,200 + 4% of 5,200 = 5,200 + (0.04)(5,200)
= 5,200 + 208
= 5,408
10

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

Therefore, P + 4% of P = P + (0.04)P
P = P(1+.04)
P = P(1.04)

So, the account balance grows like this:

Year 1 – 5,000(1.04)
Year 2 – 5,000(1.04)2
Year 3 - 5,000(1.04)3 , and so on until it ends to 9 years which is:
Year 9 - 5,000(1.04)9 = 7,116.56

Generalizing the argument in the above example, the total amount on deposit
in t years which is the compound amount is:
𝐴 = 𝑃(1 + 𝑟)𝑡

Interest can be compounded more than once per year. Common periods
include semiannually (two periods per year), quarterly (four periods per
year), monthly (twelve periods per year), or daily (usually 365 days per year).

COMPOUND INTEREST
𝐴 = 𝑃(1 + 𝑖)𝑛
𝑟
Where 𝑖 = 𝑚 and 𝑛 = 𝑚𝑡

Example:
Suppose Php 10,000 is deposited for 6 years in an account paying 4.5%
per year compounded annually.
a. Find the compound amount.
b. Find the amount of interest earned.

Solution:
0.045
𝑃 = 10,000, 𝑖 = and 𝑛 = 6(1)
1
𝐴 = 𝑃(1 + 𝑖)𝑛
𝐴 = 10,000 (1 + 0.045)6
𝐴 = 10,000(1.045)6
𝐴 = 13,022.60
Amount of interest = 13,022.60 – 10,000 = 3,022.60
11

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

Find the amount of interest earned by a deposit of Php 5,500 for 6.5
years at 5.25% compounded quarterly.

Solution:
Interest compounded quarterly is compounded 4 times a year. In 6.5
years, there are (6.5)(4)=26 periods. Thus, n = 26. Interest of 5.25% per
5.25% 0.0525
year is per quarter, so 𝑖 = . Now use the formula for compound
4 4
amount.
𝐴 = 𝑃(1 + 𝑖)𝑛
0.0525 26
𝐴 = 5,500(1 + )
4
𝐴 = 5,500(1 + 0.013125)26
𝐴 = 5,500(1.403585384)
𝐴 = 7,719.72
Php 7,719.72 – Php 5,500 = 2,219.72

PRESENT VALUE FOR COMPOUND INTEREST

𝐴
𝑃= 𝑛
𝑜𝑟 𝑃 = 𝐴(1 + 𝑖)−𝑛
(1 + 𝑖)

𝑟
Where 𝑖 = and 𝑛 = 𝑚𝑡
𝑚

Example:
Find the present value of Php 145,000 in 0 years if money can be
deposited at 6% compounded monthly.

Solution:
In 9 years, there are 12 months(9) = 108 monthly periods. A rate of 6%
0.06
per year is 12 = 0.005 in each monthly period. Apply the formula with 𝐴 =
145,000, 𝑖 = 0.005, 𝑎𝑛𝑑 𝑛 = 108.
𝐴
𝑃=
(1 + 𝑖)𝑛
145,000
𝑃=
(1 + 0.005)108
145,000
𝑃=
1.713699499
12

𝑃 = 84,612. 27
No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

ORDINARY ANNUITIES

An ordinary annuity is a series

of regular payments made at the
end of each period, such as monthly
or quarterly. In an annuity due, by
contrast, payments are made at the
beginning of each period.
Consistent quarterly stock dividends
are one example of an ordinary
annuity; monthly rent is an example of an annuity due.
The time between payment is the payment period, and the time from
the beginning of the first payment period to the end of the last period is called
the term of the annuity. The future value of the annuity, the final sum on
deposit, is defined as the sum of the compound amounts of all the payments,
compounded to the end of the term. Thus, it is the total amount of all deposits
and all interest earned by them.

FUTURE VALUE OF AN ANNUITY

(1 + 𝑖 )𝑛 − 1
𝑆 = 𝑅[ ]
𝑖
𝑟
Where 𝑖 = 𝑚 and 𝑛 = 𝑚𝑡

Example:
To prepare for the college education of their newly born child, the
parents decided to make semiannual payment of Php 50,000 for the next 18
years. If interest is charged 8% compounded semiannually, how much will
they have for the education of their child when the child enters college after
18 years?

Solution:
We are given the periodic semiannually payment 𝑅 = 𝑃ℎ𝑝50,000.
Interest compounded semiannually is compounded 2 times a year. In 18
years, there are (18)(2) = 36 periods. Thus, 𝑛 = 36. Interest of 8% per year
8% 0.08
is semiannually, so 𝑖 = = 0.04. We want to find the value of the
2 2
semiannual payments in 18 years’ time, which is the accumulated values 𝑆.
13

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

(1 + 𝑖 )𝑛 − 1
𝑆 = 𝑅[ ]
𝑖
(1 + 0.04)36 − 1
𝑆 = 50,000[ ]
0.04
(1.04)36 − 1
𝑆 = 50,000[ ]
0.04
𝑆 = 50,000(77.59831385)
𝑆 = 3,879,915.69

SINKING FUND PAYMENT

𝑆𝑖
𝑅= (1+𝑖)𝑛 −1

𝑟
Where 𝑖 = 𝑚 and 𝑛 = 𝑚𝑡

Example:
An accounting firm will need Php 700,000 in 5 years to replace its
computer system. What periodic payments to a sinking fund paying quarterly
interest at 9% annual rate will achieve that goal?

Solution:
0.09
We are given 𝑆 = 700,000 with 𝑖 = 4 = 0.0225, and 𝑛 = (4)(5) = 20.

𝑆𝑖
𝑅 =
(1 + 𝑖)𝑛 − 1
(700,000)(0.0225)
𝑅 =
(1 + 0.0225)20 − 1
15,750
𝑅 =
0.5605092007
𝑅 = 28,099.44954 𝑜𝑟 28,099.45

Quarterly payments of Php 28,099.45 will accumulate to Php700,000 in 5

years.
14

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

PRESENT VALUE OF AN ANNUITY

1 − (1 + 𝑖)−𝑛
𝑃 = 𝑅[
𝑖
𝑟
Where 𝑖 = 𝑚 and 𝑛 = 𝑚𝑡

Example:
To pay for the down payment of a car in 3 years, the Cruz family plans
to save Php 2,000 a month in an account that pays 12% interest,
compounded monthly.
a. Find the value of the account in 3 years.
b. Find the single deposit that should be made today in the account that
would give the same future value.

Solution:
We use the formula for the future value of annuity with 𝑅 = 2,000, 𝑖 =
0.12
= 0.01 and 𝑛 = 12(3) = 36.
12

(1 + 𝑖 )𝑛 − 1
𝑆 = 𝑅[ ]
𝑖
(1 + 0.01)36 − 1
𝑆 = 2000[ ]
0.01
(1.01)36 − 1
𝑆 = 2000[ ]
0.01
0.4307687836
𝑆 = 2000[ ]
0.01
𝑆 = 2000(43.07687836)
𝑆 = 86,153.76
The value of the account in 3 years is Php 86,153.76.

Find the present value of the annuity

1 − (1 + 𝑖)−𝑛
𝑃 = 𝑅[
𝑖
1 − (1 + 0.01)−36
𝑃 = 2000[
0.01
1 − 0.6989249496
15

𝑃 = 2000( )
0.01
No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

𝑃 = 2000(30.10750504)
𝑃 = 60,215.01
The single deposit of Php 60, 215.01 would give the same future value of Php
86,153.76.

AMORTIZATION PAYMENTS
𝑃𝑖
𝑅=
1 − (1 + 𝑖)−𝑛

𝑟
Where 𝑖 = 𝑚 and 𝑛 = 𝑚𝑡

Example:
The Santos family takes a 15 – year mortgage of Php 2,500,000 for their
new home, at 9%, compounded monthly. Find their monthly payments.

Solution:

𝑃𝑖
𝑅=
1 − (1 + 𝑖)−𝑛
0.09
𝑖 = 12 = 0.0075, 𝑛 = (12)(15) = 180

(2,500,000)(0.0075)
𝑅=
1 − (1 + 0.0075)−180
(2,500,000)(0.0075)
𝑅=
1 − (1.0075)−180
18750
𝑅=
1 − 0.26055
𝑅 = 25,356.66 --- monthly mortgage payment for 15 years

REMAINING BALANCE

1 − (1 + 𝑖 )−(𝑛−𝑥)
𝐵 = 𝑅( )
𝑖

Example
Fe borrows Php 10,000 for 1 year at 12% annual interest compounded
monthly. Her monthly loan payment is Php 888.49. After making three
16

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

payments, she decides to pay off the remaining balance all at once. How
much must she pay?

Solution

1 − (1 + 𝑖 )−(𝑛−𝑥)
𝐵 = 𝑅( )
𝑖
0.12
𝑖= = 0.01, 𝑛 − 𝑥 = 12 − 3 = 9
12
12 --- compounded monthly
3 --- payments Fe made

1 − (1 + 0.01)−(9)
𝐵 = 888.49( )
0.01
1 − 0.91434
𝐵 = 888.49( )
0.01
0.08567
𝐵 = 888.49( )
0.01
𝐵 = 888.49(8.566)
𝐵 = 7,610.82 --- Fe’s remaining balance.

Activity 1: Problem Solving (Use extra sheet of paper, if needed)

1. Anna wants have a Php 120,000 down payment when she buys anew
car in 6 years. How much money must she deposit at the end of each
quarter in an account paying 3.2% compounded quarterly so that she
will have the down payment she desires?
17

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

2. Lino buys a car that costs Php 950,000. He agrees to make payments at
the end of each monthly period for 4 years. He pays 7% interest,
compounded monthly.
a. What is the amount of each payment?
b. Find the total amount of interest that Lino will pay.

3. Teresa paid 20% down payment on a car worth Php 899,000 and agreed
to amortize the balance with monthly payments for 4 years at 5.34%
compounded monthly.
a. Find the amount of each payment.
b. After 2 years, Teresa decided to pay off the loan. How much must
she pay?
18

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

SKILLS ASSESSMENT

a. Compare annuities
Present your solution in a manner that will make the comparison easy to
understand and write in paragraph form the reason for the best plan for you.
Use a CLEAN sheet of paper or a bond paper.
Which of these 20 – year plans is best and why? All are at 8% annually.
a) Php 1,000 each year for 10 years, and then let the accumulated amount
grow for 10 years.
b) Php 500 each year for 20 years
c) Do nothing for 10 years, and then contribute Php 2,000 each year for
10 years.
d) One payment of Php 8,000, and let it grow.

b. Analysis and Critical Thinking

You see an advertisement on an internet job listing service and two

companies are looking for salespeople. Both companies market a weight –
loss system. The Pampayat Company pays a weekly salary of Php 4,000 and
a commission of 14.5% on sales. The Payat – Agad Company pays a straight
commission of 30% of sales of Php 40,000 in the first month and reach sales
of Php 200,000 at the end of six months. Compare both jobs using the chart
below. You can use any clean sheet of paper for your solution.
Pampapayat Company Payat – Agad Company
Estimated earnings
after a month.
Estimated earnings
after 6 months.
Which job will give a better pay?
19

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.
 Learning Module – Business Mathematics : Specialized Subject (Q2:week 1-5)

_______________________________________
Parent Signature Over Printed Name/Date

Textbook References:
❖ Math for Enhanced Learning: Business Mathematics – Sibs Publishing
House, Inc.: Copyright 2016
❖ Business Mathematics – Rex Book Store: Copyright 2016
❖ Business Math – Diocesan Printing Press and Publishing, Inc.:
Copyright 2017

20

No part of this material may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic,
mechanical, photocopying, recording, or otherwise) without prior written permission from the school.