MBF101

Detailed Topic Outline (Winter 2020)

Course Info

This course provides students with the fundamentals of mathematics of business and finance.
Following the introduction of concepts of percent and percent change, simple and compound interest
rates will be discussed. Compound interest rates will be applied to the study of annuities. Students
will also learn important models of business mathematics, such as currency conversion, trade
discounts, markups and markdowns, break-even and cost-volume-profit analysis.

Professor Info

Name: Lennox Daisley B Sc., M Sc., LLB.

Email: Lennox.daisley@senecacollege.ca
Office: C 1014
Office Hours: By appointment

Class info

Room CITE Building, K3000.

Day and time Thursday 12:35PM – 3:15PM

This course provides students with the fundamentals of mathematics of business and finance. 
Following the introduction of concepts of percent and percent change, simple and compound interest
rates will be discussed.  Compound interest rates will be applied to the study of annuities.  Students will
also learn important models of business mathematics, such as currency conversion, trade discounts,
markups and markdowns, break-even and cost-volume-profit analysis.

Seneca College MBF101 Winter 2020 Course Outline Page |1

Prescribed Text and Calculator
 Textbook: Larry Daisley, Thambyrajah Kugathasan, and Diane Huysmans. Mathematics of
Business and Finance (with Access Code). 3rd ed. Toronto: Vretta.  ISBN:  978-1-927737-21-7.
 Calculator: Texas Instruments BAII Business Analyst OR BAII Plus Professional.

Buying options for MBF101

Students can purchase a new textbook which has a unique Access Code printed on the inside cover of the
textbook. The Access Code provides students with access to the lessons, labs, PPTs, and other resources. The
textbook with the Access Code can be purchased from the bookstore: $136.75 + 5% GST. Students having a
used text book or not having a text book can purchase an Access Code alone in one of three ways:

1.     An Access Card will provide them with access code to the lessons, labs, PPTs, and solution
manuals and can be purchased from the bookstore:  $47.00 + 13% HST.
2.     Alternatively, an access code may be purchased from your course page found
at www.intromath.ca this will provide students with access to the e-textbook, lessons, labs, PPTs, and solution
manuals and can be purchased using a credit card or a PayPal account: $80.00 + 13% HST
3.     Repeating students with an existing online account can renew their license to benefit from the
reduced fee. Renewal of the access to the e-textbook, lessons, labs, PPTs, and solution manuals and can be
purchased from www.intromath.ca using a credit card or a PayPal account: $20.00 + 13 % HST

An important note is that Access Codes are a one-time use. Students will not be able to use an
access code on a used textbook or access card if it has been previously claimed.

Seneca College MBF101 Winter 2020 Course Outline Page |2

Online Lessons and Online Labs
1. Students are required to complete 10 sets of online lessons and 10 online labs. Each online
lesson is worth 0.5% of the final mark and each online lab is worth 1% of the final mark.
Please refer to the weekly schedule (end of this document) for the exact open times and due
times for each lesson and lab. The general structure is as follows:

 The first 5 sets of online lessons and labs (#1 to #5) cover topics up to Test 1 and will be
open for students to attempt from the first day of the term.
 The next 3 sets of online lessons and labs (#6 to #8) cover topics after Test 1 and up to
Test 2 and will be open for students to attempt after Test 1 is complete.
 The final 2 sets of online lessons and labs (#9 to #10) cover topics after Test 2 and up to
Test 3 and will be open for students to attempt after Test 2 is complete.
 Each set of online lessons will close at 11:59 pm on the due date as specified in the weekly
topic outline.
 Students have 3 attempts on each online lab. The highest mark recorded for each
online lab will be used for the evaluation.

2. “Math Fundamentals Review” on intromath.ca can be used by students to refresh their

knowledge of high-school mathematics, which will be used in the course. This review does
not earn marks. However, students are strongly advised to take this review.
3. Students will also have access to “Practice Questions”. These questions are given for
additional practice and do not earn marks. However, students are strongly advised to do the
practice questions before attempting the marked Labs.
4. Students have access to all expired sets of online lessons and online labs. That is, the sets of
online lessons and online labs can be attempted even after the due dates, but marks will not
be recorded after the due date. Access to the expired sets of online lessons and online labs is
provided for students to review them while preparing for quizzes, tests, and exams.
5. To access the online lessons and online labs, students must go to www.intromath.ca and click
on ‘student registration’. They will then be guided through the registration process. When
prompted to enter an access code, the student should enter the access code provided in the
new textbook. If there are any problems with the registration or any other technical issues,
students should e-mail support@vretta.com directly, or use the ‘Contact us’ button available
at the homepage of the www.intromath.ca website. Students should familiarize themselves
with www.intromath.ca website. Guide to registration, login, browser compatibility, etc., is
available under the FAQ button in the homepage of the website.
6. It is the student's responsibility to register online in their correct section and complete the
sets of online lessons and online labs before the due dates. If a student misses the deadline
for an online lesson and/or online lab, they will be graded zero for that specific online
lesson and/or online lab.
7. No set of online lessons or online labs will be re-opened after the due time. If a student
misses a set of online lesson or online lab for a valid reason (such as student sickness or
technical problems at intromath.ca), the student must contact his or her professor within one
week of the due date. However, for any technical problems with Intromath.ca, the student
must first reach out to the tech support at support@vretta.com to request assistance.

Seneca College MBF101 Winter 2020 Course Outline Page |3

Homework
To be successful in this course, it is very important that students must complete the suggested homework
problems. These homework problems are given in the weekly schedule (end of this document). Students must
do the homework as soon as they have completed the topic in class. Each problem in the homework must be
attempted, properly researched and understood. If the answer does not coincide with the one provided in the
textbook, a thorough analysis of the solution and a careful reading of the relevant section in the textbook is
necessary. If further help is required, students must reach out to their professor as soon as possible. While the
homework does not earn marks, doing it properly will help in earning high marks in in-class assessments.

Attendance
While no marks are given for attendance, students are strongly encouraged to attend classes, and to come to
the classes in time. Attendance is extremely important as a lot of important information will be explained by
the professor and a lot of hands-on practise with the concepts will happen in class. Every minute of the class
time is important. Students must come to the class prepared: bring their textbook, calculator, workbook,
pencil and an eraser.

Evaluation
Topics and their applications will be introduced through classroom lectures, discussions and
demonstrations. Additional practice problems and online learning modules will be assigned as
independent homework. Students are expected to attend classes regularly and to complete the
assigned homework. For further information, see a copy of the Academic Policy, available online
(http://www.senecacollege.ca/academic-policy) or at Seneca's Registrar's Offices.

Grading Policy Course Activity Value

A+ 90%  to  100%
Online Lessons (10 Sets of Online 5%
A 80%  to  89% Lessons × 0.5% Mark each):
B+ 75%  to  79%
Online Labs (10 Online Labs × 1% 10%
B 70%  to  74%
Mark each):
C+ 65%  to  69%
C 60%  to  64% In-class Quiz 10%
D Test 1 25%
55% to 59%
+
Test 2 25%
D 50%  to  54%
F 0%    to  49% (Not a Pass) Test 3 25%
Total 100%

Seneca College MBF101 Winter 2020 Course Outline Page |4

Test Dates/Due Dates

Test dates and other assessment due dates are non-negotiable.  Students are required to attend
tests and submit assignments as scheduled.  If they are unable to do so due to illness or an
unexpected circumstance, they are required to contact the professor immediately.  This should occur
before the deadline in most cases, but where this is impossible contact must be made within 24
hours of the missed deadline.  The student must e-mail the professor outlining the situation and
provide any supporting documents where possible. Failure to do so will result in a grade of zero for
the test/assignment.

VRETTA Award
This Award is for the student who has secured the highest mark in all sections of MBF101. The
student will receive a cash prize of $250 along with a certificate from Vretta for academic
excellence. Each reward is available for the Fall Semester and the Winter Semester. In the instance
of a tie, the reward will go to the recipient with the higher overall GPA. If there is still a tie, a random
draw will be performed.

Learning Centre and Tutoring

Students are encouraged to use the services of Learning Centre. Learning Centre offers free
workshops and tutoring. Please visit the Learning Centre to learn more.

The Leaning Centre also runs the “Supported Learning Groups” (coded “SLG”), where students of
MBF101/100 can find extra support in mastering the material. Please visit the Learning Centre or
speak to your professor for more information.

MARKHAM CAMPUR LEARNING CENTRE (Located on the Second Floor near the elevators).

Phone: 416.491.5050 ext. 77429

Hours: 8:30 a.m. - 4:30 p.m. Monday to Friday

NEWNHAM CAMPUS LEARNING CENTRE (Room B2100)

Phone: 416.491.5050 ext. 22421 

Hours: 8:00 a.m. - 7:00 p.m. Monday to Friday

Website: http:/inside.senecacollege.ca/learningcentres/index.html

Seneca College MBF101 Winter 2020 Course Outline Page |5

 IMPORTANT: IMPORTANT: GRADED
Monday of the
Textbook Sections & Topics Suggested Homework. Online Lessons and Labs
Week
Do after each class (EOD – “End Of Day”)
3.1, 3.2 Percent and Percent Change 3.1: 9, 11, 13, 21, 23, 31 12:00AM January 6
1 6-Jan 3.2: 3, 5, 7, 9, 15, 25 Lessons and Labs 1,2,3,4,5
open for students
8.1, 8.2 Simple Interest: Calculating 8.1: 9, 13, 17, 25 Lesson and Lab 1
Principal, Rate, Time, Maturity Value 8.2: 9, 15, 17, 25, 29 (3.1, 3.2)
2 13-Jan 9.1, 9.2, 9.3 Compound Interest: FV and 9.1:5, 7, 11, 13 due January 19, EOD
PV 9.2: 3, 5, 9, 11, 13, 17, 19, 25, 31
9.3: 5, 7, 11, 15, 19, 21
9.4 Equivalent Payments (Compound) 9.4: 3, 7, 11, 13, 17, 23, 25 Lesson and Lab 2
3 20-Jan (8.1, 8.2, 9.1, 9.2, 9.3)
due January 26, EOD
9.5 Compound Interest: Calculating 9.5: 5, 7, 9, 11, 13 Lesson and Lab 3
4 27-Jan periodic rate and nominal rate (9.4)
Quiz (10%) due February 2, EOD
9.6 Compound Interest: Calculating 9.6: 3, 5, 7, 9, 11, 15 Lesson and Lab 4
term (n and t) 9.7: 5, 7, 9, 11, 15, 21 (9.5)
5 3-Feb
9.7, 9.8 Compound Interest: Calculating 9.8: 5, 7, 9, 11, 15, 17 due February 9, EOD
Effective Rate and Equivalent Rate
Test#1 (25%). Do Test 1 Preparation problems Lesson and Lab 5
The test covers topics of weeks 1-5 (refer to the handout) (9.6, 9.7, 9.8)
6 10-Feb
due February 16, EOD
(advised to be completed before Test 1)
10.1, 10.2, 10.3 FV and PV of ordinary 10.1: 1, 3, 5, 7 12:00AM February 17
7 17-Feb simple and ordinary general annuities 10.2: 5, 7, 9, 13, 15, 19, 25 Lessons and Labs 6,7,8
10.3: 9, 11, 13, 15, 17, 23, 29, 33 open for students

10.4 FV and PV of simple annuity due 10.4: 9, 11, 13, 17, 19, 23 Lesson and Lab 6
8 2-Mar 10.5 FV and PV of general annuity due 10.5: 7, 9, 13, 19, 23, 29 (10.1, 10.2, 10.3)
due March 8, EOD
10.6 Calculating periodic payment for 10.6: 9, 13, 19, 21, 25, 33 Lesson and Lab 7
annuities 10.7: 7, 11, 17, 19, 21 (10.4, 10.5)
9 9-Mar
10.7 Calculating number of payments due March 15, EOD
and time period for annuities
Test #2 (25%) Do Test 2 Preparation problems Lesson and Lab 8
The test covers topics of weeks 7-9 (refer to the handout) (10.6, 10.7)
10 16-Mar
due March 22, EOD
(advised to be completed before Test 2)
5.1 Trade Discounts 5.1: 7, 9, 17, 25, 31, 35 12:00AM March 23
11 23-Mar 4.3 Exchange Rates 4.3: 7, 9, 13, 17, 19, 21, 27 Lessons and Labs 9 and 10
open for students
5.2 Payment Terms and Cash Discounts 5.2: 7, 13, 17, 19, 21, 23
5.3 Markup 5.3: 7,9,11, 13, 21, 29
12 30-Mar 5.4 Markdown 5.4: 7,9,11, 13, 17, 21
5.5 Applications of Markup and 5.5: 5, 7, 9, 11, 13, 15
Markdown
7.1 Break-even Analysis 7.2: 3, 5, 7, 9, 11, 13, Lesson and Lab 9
13 6-Apr 7.2 Cost-Volume-Profit Analysis (5.1, 4.3, 5.2, 5.3)
due April 12, EOD
Test #3 (25%) Do Test 3 Preparation problems Lesson and Lab 10
The test covers topics of weeks 11-13 (refer to the handout) (5.4, 5.5, 7.1, 7.2)
14 13-Apr
Test #3 date and place is to be due April 15, EOD
determined.

Seneca College MBF101 Winter 2020 Course Outline Page |6