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Business Mathematics In The Real World

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1. Introduction: Business Math in the Real World
The whole concept of mathematics being used in the business field all started thousands of years ago. Mathematics started because of business, in other words. It started to facilitate commerce and trade and it could have not happened without having numbers. Banking, commerce and trade are the main reason as to why we now have mathematics in the first place. Mathematics and business began around ten thousand years ago and it developed from there to all the branches of mathematics and businesses that we have now. The most famous manner that Business Math was put into practice was by industry leaders, George Dantzig and Harold Kuhn, in the 1950’s. They had great discoveries and outcomes by using …show more content…
Mathematics of finance has several different names. The names vary from quantitative finance, mathematical finance, financial engineering, and computational finance. Nonetheless, they all focuses on learning the different types of interest, such as discount interest, simple interest and compound interest. You don’t have to be interested in finance when you take mathematics of finance, but it will help and it will be a lot more interesting if you are looking forward in learning how to make the right decisions when it comes to money and …show more content…
People often use financial math formulas to compare the prices of items available at different stores and by using the correct formulas they are able to calculate the best deal. Financial math is also very common amongst investment banks, insurance companies and commercial banks because they apply the practice of financial math to problems portfolio structuring, scenario simulation, risk management and derivative securities valuation. Lately, efficiency and accuracy has been brought by quantitative analysis to the financial markets and investment

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