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- https://stats.libretexts.org/Courses/Fullerton_College/Math_100%3A_Liberal_Arts_Math_(Ikeda)/03%3A_Finance/3.11%3A_Income_TaxationMany people have proposed various revisions to the income tax collection in the United States. Some, for example, have claimed that a flat tax would be fairer. Others call for revisions to how differe...Many people have proposed various revisions to the income tax collection in the United States. Some, for example, have claimed that a flat tax would be fairer. Others call for revisions to how different types of income are taxed since currently investment income is taxed at a different rate than wage income. The following two projects will allow you to explore some of these ideas and draw your own conclusions.
- https://stats.libretexts.org/Courses/Fullerton_College/Math_100%3A_Liberal_Arts_Math_(Ikeda)/03%3A_Finance/3.10%3A_Extension-_TaxesGovernments collect taxes to pay for the services they provide. In the United States, federal income taxes help fund the military, the environmental protection agency, and thousands of other programs....Governments collect taxes to pay for the services they provide. In the United States, federal income taxes help fund the military, the environmental protection agency, and thousands of other programs. While very few people enjoy paying taxes, they are necessary to pay for the services we all depend upon. Taxes can be computed in a variety of ways, but are typically computed as a percentage of a sale, of one’s income, or of one’s assets.
- https://stats.libretexts.org/Courses/Fullerton_College/Math_100%3A_Liberal_Arts_Math_(Ikeda)/03%3A_Finance/3.03%3A_Compound_InterestWith simple interest, we were assuming that we pocketed the interest when we received it. In a standard bank account, any interest we earn is automatically added to our balance, and we earn interest o...With simple interest, we were assuming that we pocketed the interest when we received it. In a standard bank account, any interest we earn is automatically added to our balance, and we earn interest on that interest in future years. This reinvestment of interest is called compounding.
- https://stats.libretexts.org/Courses/Fullerton_College/Math_100%3A_Liberal_Arts_Math_(Ikeda)/04%3A__Sets/4.04%3A_CardinalityOften times we are interested in the number of items in a set or subset. This is called the cardinality of the set.
- https://stats.libretexts.org/Courses/Fullerton_College/Math_100%3A_Liberal_Arts_Math_(Ikeda)/06%3A_Probability/6.04%3A_Bayes_TheoremThe test does not produce false negatives (that is, anyone who has the disease will test positive for it), but the false positive rate is 5% (that is, about 5% of people who take the test will test po...The test does not produce false negatives (that is, anyone who has the disease will test positive for it), but the false positive rate is 5% (that is, about 5% of people who take the test will test positive, even though they do not have the disease). We could redo the problem with 100,000 test subjects, 100 of whom would have the disease and \((0.05)(99,900)=4995\) test positive but do not have the disease, so the exact probability of having the disease if you test positive is
- https://stats.libretexts.org/Courses/Fullerton_College/Math_100%3A_Liberal_Arts_Math_(Ikeda)/06%3A_Probability/6.01%3A_Basic_Probability_ConceptsIf you roll a die, pick a card from deck of playing cards, or randomly select a person and observe their hair color, we are executing an experiment or procedure. In probability, we look at the likelih...If you roll a die, pick a card from deck of playing cards, or randomly select a person and observe their hair color, we are executing an experiment or procedure. In probability, we look at the likelihood of different outcomes.
- https://stats.libretexts.org/Courses/Fullerton_College/Math_100%3A_Liberal_Arts_Math_(Ikeda)/06%3A_Probability/6.02%3A_Probability_Rules_with_Not_Or_and_AndThe complement of event \(A\) is the event “\(A\) does not happen.” It is the set of outcomes in the sample space \(S\) that are not in event \(A\). Note that the complement of an event in probability...The complement of event \(A\) is the event “\(A\) does not happen.” It is the set of outcomes in the sample space \(S\) that are not in event \(A\). Note that the complement of an event in probability is essentially the same as the complement of a set, since an event is a subset of the sample space. It is possible for a card to be both red and a 5 at the same time but it is not possible for a card to be both red and a spade at the same time.
- https://stats.libretexts.org/Courses/Fullerton_College/Math_100%3A_Liberal_Arts_Math_(Ikeda)/06%3A_Probability
- https://stats.libretexts.org/Courses/Fullerton_College/Math_100%3A_Liberal_Arts_Math_(Ikeda)/10%3A_Appendix/10.06%3A_Problem_SolvingThumbnail: pixabay.com/photos/tax-form-irs-tax-taxes-finance-4080693/
- https://stats.libretexts.org/Courses/Fullerton_College/Math_100%3A_Liberal_Arts_Math_(Ikeda)/03%3A_Finance/3.05%3A_LoansIn this section, you will learn about conventional loans (also called amortized loans or installment loans). Examples include auto loans and home mortgages. These techniques do not apply to payday loa...In this section, you will learn about conventional loans (also called amortized loans or installment loans). Examples include auto loans and home mortgages. These techniques do not apply to payday loans, add-on loans, or other loan types where the interest is calculated up front.
- https://stats.libretexts.org/Courses/Fullerton_College/Math_100%3A_Liberal_Arts_Math_(Ikeda)/03%3A_Finance/3.07%3A_Solving_for_TimeOften we are interested in how long it will take to accumulate money or how long we’d need to extend a loan to bring payments down to a reasonable level. Note: This section assumes you’ve covered sol...Often we are interested in how long it will take to accumulate money or how long we’d need to extend a loan to bring payments down to a reasonable level. Note: This section assumes you’ve covered solving exponential equations using logarithms, either in prior classes or in the growth models chapter.
