Mathematics in the

Modern World

SHEENA JANE A. DOÑO

FELIX B. DOÑO
 1

Preface
Mathematics in the Modern World is about mathematics as a system
of knowledge or perception of our surroundings. It is equivalent to a textbook
on English literature, an introduction to a textbook on philosophy, or perhaps
a textbook on introductory psychology. Each of these books provides
insights into the thoughts and perceptions of some of the biggest writers,
philosophers, and psychologists in the world.
Similarly, Mathematics in the Modern World offers insights into the
essence of mathematics, and how it is used to explain our culture. Together
with other disciplines this perception leads to a more full picture of the world.
How is mathematics in the modern world implemented? CHED
describes the subject as one which (1) dabbles with “the nature of
mathematics” ( an exploration of patterns, an application of inductive and
deductive reasoning, a rich language in itself governed by logic and
reasoning; (2) induces “ appreciation of the practical, intellectual, and
aesthetic dimensions of mathematics”; and (3) showcases the “ application
of mathematical tools in daily life” ( managing personal finances, making
social choices, appreciating geometric design, understanding codes used in
data transmission and security, and dividing limited resources.
In line with these guidelines, this module has been developed to reflect
CHED’s vision for the subject mathematics in the modern world.
Unit I begins by reflecting on what mathematics really is. It has been
said that mathematics is a study of patterns. The material in the unit further
elaborates these definitions. A glimpse of mathematics through time is
likewise presented to put the ensuing discussions in context.
Unit II will introduce you to some of the special language that is a
foundation for much mathematical thought, the language of variables, sets,
relations, and functions.
The application of mathematics in common consumer transactions is
discussed in Unit III. It explains how mathematics involved with activities like
 2

investing, borrowing money, managing data, and coming in contact with

tagged products
The materials included here aim to show to the students why
mathematics has kept its relevance through the ages and why it is at the very
foundation of many things people do and have in the modern world. It is
hoped that whatever the students decide to do beyond the duration of the
course, the realization of the pervasiveness and relevance of mathematics
in everyday lives induce them to appreciate and value the subject.
 1

Unit 1 Nature of Mathematics

Lesson 1 Mathematics for our World

Learning Outcomes

At the end of this lesson, you will be able to:

● Define Mathematics;
● Articulate the importance of mathematics in one’s life; and

Introduction of Mathematics

In the book of 3G E-LEARNING (2018), most contemporary reference

works define mathematics mainly by summarizing its main topics and
methods:

► “The abstract science which investigates deductively the conclusions implicit in the
elementary conceptions of spatial and numerical relations, and which includes as its main
division’s geometry, arithmetic, and algebra” - (Oxford English Dictionary, 1933)
► “The study of the measurement, properties, and relationships of quantities and
sets, using numbers and symbols” - (American Heritage Dictionary, 2000)
► “The science of structure, order, and relation that has evolved from elemental
practices of counting, measuring, and describing the shapes of objects”
Nocon & Nocon (2018) defined Mathematics as the study of numbers and arithmetic
operations. It is also considered an art that studies patterns for predictive purposes or
specialized language which deals with form, size, and quantity. (Nocon & Nocon, 2018, pp.
3)
Mathematics is the science that deals with the logic of shape, quantity, and
arrangement. Math is all around us, in everything we do. It is the building block for everything
 2

in our daily lives, including mobile devices, architecture (ancient and modern), art, money,
engineering, and even sports. 1

Nature of Mathematics
Based on the various definitions, the nature of mathematics can be listed as follows
(3G E-LEARNING (2018):
➢ An intellectual game - Mathematics can be treated as an intellectual game with
its own rules and without any relation to external criteria. From this viewpoint,
mathematics is mainly a matter of puzzles, paradoxes, and problem solving –
a sort of healthy mental exercise.
➢ The art of drawing conclusions- One of the important functions of the school is
to familiarize children with a mode of thought which helps them in drawing right
conclusions and inferences. According to J.W.A. Young a subject suitable for
this purpose should have three characteristics:
● That its conclusion is certain. At first, at least it is essential that
the learner should know whether or not he has drawn the correct
conclusion.
● That it permits the learner to begin with simple and very easy
conclusions to pass in well graded sequence to very difficult ones, as
the earlier ones are mastered
● That the type of conclusions exemplified in the introductory
subject be found in the other subjects also, and in human interactions,
in general. These characteristics are present in mathematics to a larger
extent than in any other available subject.
➢ A tool subject- It could be more elegantly expressed as “mathematics,
handmaiden to the sciences”. Its mentors of the past- engineering, physical
science and commerce – now became no more than its peers. However, many
conceive mathematics as a very useful means to other ends, a powerful and
incisive tool of wide applicability. According to Howard F.Fahr, “If mathematics
had not been useful, it would long ago have disappeared from our school
curriculum as required study”.
➢ A system of logical processes - Polya suggested that mathematics actually has
two faces. One face is a ‘systematic deductive science’. This has resulted in
presenting mathematics as an axiomatic body of definitions, undefined terms,
axioms, and theorems. Mario Pieri stated “Mathematics is a
hyptheticodeductive system”. This statement means that mathematics is a
system of logical processes whereby conclusions are deduced from certain

1
(2013, August 16). What is Mathematics? | Live Science. Retrieved June 23, 2020, from
https://www.livescience.com/38936-mathematics.html
 3

fundamental assumptions and definitions that have been hypothesized. This

has been reinforced by Benjamin Pierce when he defined mathematics as ‘The
science which draws necessary conclusions’. The student draws the inferences
from the premises, provided the premises are true.
➢ An intuitive method - Institution implies the act of grasping the meaning or
significance or structure of a problem without explicit reliance on the analytic
apparatus of one’s craft. It is the institutive mode that yields hypotheses quickly.
It precedes proof; it is what the techniques of analysis and proof is designed to
test and check. Intuition when applied to mathematics involves the
concretization of an idea not yet stated in the form of some sort of operations
or example. It is important to allow the student to express his intuition and check
and verify its validity. When mathematics is taught in a very formal way by
stating the logical rules, and algorithm, we remove his confidence in his ability
to perform mathematical processes.
➢ Patterns and Relationships - As a theoretical discipline, mathematics explores
the possible relationships among abstractions without concern for whether
those abstractions have counterparts in the real world. The abstractions can be
anything from strings of numbers to geometric figures to sets of equations.

Mathematics for our World

According to Aufmann, R., Lockwood, J., Nation, R., & Clegg, D. (2018) Mathematics
helps organize patterns and regularities in the world. Mathematics helps predict the behavior
of nature and phenomena in the world, as well as helps humans exert control over
occurrences in the world for the advancement of our civilization.

❖ Mathematics for Organization

Mathematical tools to help us make sound analysis and better decisions.

● For instance, a particular store can gather data on the shopping habits
of its customers and make necessary adjustments to help drive sales.
● Scientists can plot bird migration routes to help conserve the
endangered animal populations.
● Social media analysts can crunch all online postings using software to
gauge the netizen’s sentiments on particular issues or personalities.
 4

❖ Mathematics for Prediction

Mathematical models using existing data to generate analysis and interpretations, can
also be used to make predictions. Applying the concept of probability, experts can calculate
the chance of an event occurring.
● The weather is a prime example. Based on historical patterns, meteorologists
can make forecasts to help us prepare for our day-to-day activities. They can
also warm us of weather disturbances that can affect our activities for weeks or
months.

❖ Mathematics for Control

Patterns are definitely present in the universe as demonstrated by means of examples

around us. There seems to be an underlying mathematical structure in the way that natural
objects and phenomena behave. These observations of nature, as well as their interactions
and relationships, could be more elegantly described by means of mathematical equations.
As stated by astrophysicist Brian Greece, “ With a few symbols on a page, you can describe
a wealth of physical phenomena.
● Photographers could capture a single moment through a snapshot,
videographers could record events as they unfold.
● Painters and sculptors could create masterpieces in interpreting their
surroundings, poets could use beautiful words to describe objects, and
musicians could capture and reproduce sounds that they hear.
● In 1916, Albert Einstein hypothesized the existence of gravitational waves
based on his theory of general relativity. This is when “ripples” are formed in
the fabric of space-time due to large and violent cosmic events, very much like
when a pebble is thrown on a stagnant pond.

Mathematics is Indispensable

According to Albert Einstein, How is it possible that mathematics, a product of human

thought that is independent of experience, fits so excellently the objects of reality?
The study of mathematics should be embraced as it paves the way for more educated
decisions and in a way, brings us closer to understanding the natural world.
 5
Learning Activities

Activity I Essay Writing

Direction: In a short bond paper write a short response on the following questions.

1. What new ideas about mathematics did you learn?

2. What is it about mathematics did you learn?
3. What is most useful about mathematics for human kind?

Rubrics

20 15 10 5 Points

Identifies an
Correctly
important
Correctly identifies identifies
idea but not Identifies a
the main idea in a most of
Main Idea the maid detail but not
clear and accurate main idea in
idea in a the main idea.
manner a complete
complete
sentence.
sentence.

States
States at
atleast 1
least 2 Includes
Clearly states 2 or important
important unncessary
more important detail.
Supporting details with details. Does
details using own Demonstrat
Details some not demonstrate
words or es little if
paraphrasin any
statements. any
g of paraphrasing.
paraphrasin
information.
g.

Writes and Writes a Does not

Writes a clear and
adequate weak include a
Conclusion specific concluding
concluding concluding concluding
statement.
statement. statement. statement.
 6

Contains Contains
several many errors
Contains many
errors in in
errors in
punctuation, punctuation,
Mechanics Contains few, if any punctuation,
spelling or spelling, and
and spelling or spelling and or
grammar or grammar
Grammar grammatical errors. grammar that
that do not that
make the piece
interfere interferes
illegible.
with with
meaning. meaning.

Total

Activity II Powerpoint Presentation

Direction: Find an evidence/picture about beauty of nature as explained by mathematics and
present it to the class using powerpoint presentation.

Part I Synthesis
Direction: Two to three-page synthesis paper focusing on one of the following aspects of
mathematics:

a.Mathematics helps organize patterns and regularities in the world.

b. Mathematics helps predict the behavior of nature and phenomena in the world.
c. Mathematics helps control nature and occurrence in the world for our own ends.
Mastery Test
Part II Essay Writing
Direction: Write clearly and concisely an essay on the following questions. Write your
answer on a whole sheet of yellow paper or in word document and upload it on our google
class.
1. What is mathematics?
2. Where is mathematics?
3. What role does mathematics play in your world?
 7

Rubrics
20 15 10 5 Points

Identifies an
Correctly
important
Correctly identifies identifies
idea but not Identifies a
the main idea in a most of
Main Idea the maid detail but not
clear and accurate main idea in
idea in a the main idea.
manner a complete
complete
sentence.
sentence.

States
States at
atleast 1
least 2 Includes
Clearly states 2 or important
important unncessary
more important detail.
Supporting details with details. Does
details using own Demonstrat
Details some not demonstrate
words or es little if
paraphrasin any
statements. any
g of paraphrasing.
paraphrasin
information.
g.

Writes and Writes a Does not

Writes a clear and
adequate weak include a
Conclusion specific concluding
concluding concluding concluding
statement.
statement. statement. statement.

Contains Contains
several many errors
Contains many
errors in in
errors in
punctuation, punctuation,
Mechanics Contains few, if any punctuation,
spelling or spelling, and
and spelling or spelling and or
grammar or grammar
Grammar grammatical errors. grammar that
that do not that
make the piece
interfere interferes
illegible.
with with
meaning. meaning.

Total
 8

References

Nocon, R., & Nocon, E. (2018). Essential Mathematics for the Modern World (2nd ed.). C & E
Publishing, Inc.

Aufmann, R., Lockwood, J., Nation, R., & Clegg, D. (2018). Mathematics in Modern World (14th
ed.). Rex Book Store, Inc.

3G E-LEARNING. (2018). Mathematics in the Modern World. 3G E-learning LLC.

(2013, August 16). What is Mathematics? | Live Science. Retrieved June 23, 2020, from
https://www.livescience.com/38936-mathematics.html
 9

Unit 1 Nature of Mathematics

Lesson 2 Patterns

Learning Outcomes

At the end of this lesson, you will be able to:

● Effectually discuss concept associated with viewing math as study patterns in nature
and regularities in the world; and
● Perform problems involving patterns.

Introduction to Patterns

Nocon & Nocon (2018), states that pattern is an arrangement that helps
observers anticipate what they might see or what happens next. A pattern also
shows what may have come before. It organizes information so that it becomes
more useful. Studying patterns allows one to observe, hypothesize, discover, and create.
Examples of Various Patterns
A. Logic Patterns- it is classifying things, for example comes before numeration. Being
able to tell which things are blocks and which are not precedes learning to count
blocks. One kind of logic pattern deals with the characteristics of various objects while
another deals with order. These patterns are seen on aptitude tests in which takers
are shown a sequence of pictures and asked to select which figure comes next among
several choices.(Nocon & Nocon ,2018)
Logical reasoning tests (also known as critical reasoning tests) are designed to
assess a candidate's ability at skills such as how to interpret patterns, number
sequences, or the relationships between shapes. They have much in common with
abstract reasoning, diagrammatic reasoning and inductive reasoning tests.

1. Practice sample diagrammatic IQ tests. Many test publishers also provide

practice tests that you can access, such as JobTestPrep; this is certainly worth
doing.
2. It can be useful to develop a mental checklist of strategies to solve logical reasoning
questions, such as a list of different rules that govern size, shape, number etc. This can help
you to work more methodically in the test.
 10

3. Look at one rule at a time. There may be extraneous data within the question, which is
designed to confuse you. Focusing on a single aspect can help you work out what is important
and what's not.
4. Manage your time. Sometimes you will come up against a question where you just cannot
see the answer. Tempting as it can be, don't spend too much time on it. Move on and if you
have time at the end, go back and check it.
5. If you’re struggling to find a pattern, sometimes there are clues in the answers. Look for
any patterns or themes in the possible answers; that might help you spot what is important
within the question. For example, if you have a sequence of shapes and all of the answers
are squares or triangles, you know that the next shape in the sequence must be either a
square or a triangle, which could help guide you as to why.

1. Identify the missing square

This type of question requires you to look at the patterns in the squares and
understand their relationship to one another, so as to identify the missing square.

Answer: C

There are three rules to spot in this question.

★ Firstly, there is a relative positional rule: the

position of the black square corresponds to the
position its square holds within the diagram.

★ Secondly, there is a movement rule, in that the

circle moves around the boxes in a clockwise
position.

2. Identify the odd one out

In this question, some of the squares have three items in and some have four – you
need to work out whether or not that is important.
 11

Answer : C

In this particular case, there are two rules:

★ First is that the largest shape must be

grey.

★ Second is that the bottom shape must be

black.

Aptitude & Assessment Tests. (2020). Retrieved 24 June 2020, from

https://www.assessment-training.com/Training/Free#/test/252?mode=free

B. Number Patterns - are the patterns in which a list number that follows a certain
sequence. Generally, the patterns establish the relationship between two numbers. It
is also known as the sequences of series in numbers.
In order to solve the problems on the number pattern, first, we have to
understand the rule being followed in the pattern.
● Number Pattern

The given sequence of numbers are 11, 17, 23, 29, 35, 41, 47, and 53.
The following figure helps to understand the relationship between the
numbers.

In the given pattern, the

sequence is increased by 6. It means
the addition of the number 6 to the previous number gives the succeeding
number. Also, the difference between the two consecutive number is 6.
● Number Pattern Using Dots

Representing each whole number with a set of dots and arranging these
dots in some elementary shape to find number patterns. For arranging
these dots, we take strictly four shapes into account. Numbers can be
arranged into:
 12

1. A line-Every number can be arranged in a line. Example : The number 2 can

be represented by . All other numbers can be represented in a similar
pattern.

2. A rectangle-Some numbers can be arranged as a rectangle. Example: The

number 6 can be arranged as a rectangle with 2 rows and 3 columns as

. Similar it can be formed by 8, 10, 14, 15, etc.

3. A square-Some numbers can be arranged as squares. Example: The

number 4 can be represented as and 9 as . Similar it can be

formed by 16, 25, 36, 49 and so on.

4. A triangle-Some numbers can be arranged as triangles. Example:The

number 3 can be represented as and 6 as . Similar it can

be formed by 10, 15, 21, 28, etc. It is to be noted that the triangle should have
its 2 sides equal. Hence, the number of dots in the rows starting from the
bottom row should be like 4,3,2,1. The top row should always have one dot.
There are different types of number patterns in Mathematics. They are:
 Arithmetic Sequence
 Geometric Sequence
 Square Numbers
 Cube Numbers
 Triangular Numbers
 Fibonacci Numbers1

Number Sequences - Square, Cube and Fibonacci. (2020). Retrieved 24 June 2020, from
https://www.mathsisfun.com/numberpatterns.ht. For further examples (2020). Retrieved 24 June
2020, from https://www.cimt.org.uk/projects/mepres/allgcse/bkb12.pdf

C. Geometric Patterns - A geometric pattern is a motif or design that depicts abstract

shapes like lines, polygons, and circles, and typically repeats like a wallpaper.Visual
patterns are observed in nature and in art.(Nocon & Nocon ,2018)
● In art, patterns present objects in a consistent regular manner. They appear in
paintings, drawings, tapestries, wallpapers, tilings, and carpets. A pattern does
not need to repeat exactly as long as it provides a way of organizing the artwork.

1
(n.d.). Number Patterns (Definition, Types and Examples) - Byju's. Retrieved June 24, 2020, from
https://byjus.com/maths/number-patterns-whole-numbers/
 13

Abstract,geometric,pattern,modern,art - free image from needpix.com. (2020). Retrieved 26 June 2020, from https://www.needpix.com/photo/571246/abstract-geometric-pattern-modern-art-colours-
colors-shapes-artistic
starry night, vincent van gogh painting, art, art gallery, art piece, artwork, design, exhibition, CC0, public domain, royalty free | Piqsels. (2020). Retrieved 26 June 2020, from
https://www.piqsels.com/en/public-domain-photo-jceey

● Pattern in nature are often chaotic. Examples of pattern in natures includes

symmetries, spirals, tilings, stripes, and fractional design.

sunflower, forming, seeds, prominent, swirly pattern, stunning, example, fibonacci sequence, nature, sun | Pxfuel. (2020). Retrieved 26 June 2020, from https://www.pxfuel.com/en/free-photo-jrhxg
Deserted hive. (2020). Retrieved 26 June 2020, from https://www.flickr.com/photos/fdecomite/38619

40 Brilliant Geometric Patterns (And How to Use Them in Your Designs). (2020). Retrieved 26
June 2020, from https://visme.co/blog/geometric-patterns/ . Aufmann, R., Lockwood, J., Nation, R., &
Clegg, D. (2018). Mathematics in Modern World (14th ed.). Rex Book Store, Inc. pp. 3 - 11

D. Word Patterns - Patterns can also be found in language like the morphological rules
in pluralizing nouns, or conjugating verbs for tense, as well as the metrical rules of
poetry. The focus here is patterns in form and in syntax, which lead directly to the
study of language in general and digital communication in particular. (Nocon & Nocon
,2018)
 14

Here are several relationships between pairs of words are possible. (https://www.assessment-
training.com/blogs/tips-to-pass-an-analogies-test)

● Antonyms: words that have opposite meanings.

● Synonyms: words that have similar meanings, such as Buy – Purchase.
● Descriptive: in which one word describes the other word, such as Blue – Ocean.
● Part to Whole: in which one word is a part or piece of the other, such as Head – Body.
● Steps in a Process: such as Cooking – Serving.
● Cause and Effect: such as Fire – Scorch and Blizzard – Freeze
● Things and Their Functions: such as Scissors – Cut.
● Item to Category: in which one word names something that falls into the group named
by the other, such as Lemonade – Beverage.
● Implied Relationships: such as Clouds – Sun.
● Symbol and What it Represents: such as Heart – Love.

Tips for solving Analogies

● The only way to become better at verbal analogies is through practice. Our verbal
analogy tests are developed by professionals and provide you with full explanations.
● Try to determine the relationship between the first pair of words.
● Turn the analogies into sentences. Read the analogy problems as sentences, even if
they aren’t actually written that way.
● Go through tough problems systematically.
● Read all of the answer choices first before making a decision. This might sound
obvious, but candidates commonly stop reading the answer choices once they’ve
found what seems like a strong match.
● Eliminate any pairs in the answers that do not have a similar type of relationship.
● If the meaning of a word is unknown, then try to recollect the context in which you have
come across the word.
● Also, consider alternative meanings of words.
 15

● Take another look at the relationship possibilities as described above and try to look
for them when trying to solve analogies.
● If all else fails, eliminate the unlikely answers and make an educated guess.

For further readings : from https://www.fibonicci.com/verbal-reasoning/analogies-examples/

For further examples: from https://elearning.shisu.edu.cn/pluginfile.php

Vacca and Vacca (1996) outline the following word analogy types:

Learning Activities

Activity I Multiple Choice

Directions : In the space provided, write the letter of the correct answer.

1. Kitten :_____ :: Soldier: Army

a. Cat b. Litter c. Puppy d. Meow

2. Hangar : Airplane :: Garage : _____

a. Steak b. Runway c. Oil d.Automobile
 16

3. Cord :Telephone :: _____Television

a. Watch b. Screen c. Program d. Table
4. Hint :_____: : Whisper : Shout
a. Demand b. Point c. Surprise d. Secret
5. Cub : Bear :: Joey : ______
a. Cave b. Doll c. Kangaroo d. Truck

Activity II Pair Activity

Directions: Find your partner and answer the question.Which of the following is the correct
answer and defend your choice.
1. Complete the sequence

2. Complete the sequence

3. 1 is to 2 , as 3 is to 4
 17

4. Choose the image that completes that completes the pattern.

A. B. C. D. E.
5. Complete the pattern

Activity III Multiple Choice

Directions: In the space provided, write the letter of the correct answer. Show your solution.
1. 841, ______, 2401, 3481, 4761
A.1071 B. 1331 C. 1411 D. 1521
 18

2. 3375, ______, 24389, 46656, 79507

A. 10442 B. 10648 C. 11976 D. 18002

3. 3, _____, 45, 144, 585

A. 18 B. 21 C. 23 D. 27
4. 5, 45, 405, 3645, _______

A. 26832 B. 28667 C. 30551 D. 32805

5. 180, 179, 160, 156, 224, ______
A. 88 B. 99 C. 100 D. 110

Mastery Test

Test I Multiple Choice test

Directions: Encircle the correct answer.

1. 6, ____, 33, 69, 141, 285

A. 15 B. 18 C. 22 D. 31
2. 4, 16, 64, 256, 1024, _____

A. 4096 B. 3308 C. 4290 D. 2896

3. 5, 7, 12, 6, 8, 14, 7, ____, 16, 8, 10, 18.

A. 8 B. 9 C. 10 D. 12
4. Complete the pattern
 19

5. Complete the pattern

6. Fern : Plant :: _____ : Fish a. Catch b. Minnow c. Animal d. Sparrow

7. ____: Wrist :: Belt : Waist a. Arm b. Hand c. Bend d. Bracelet

8. Ramp: Highway :: _____: House a. Traffic b. Head c. Door d. Speed
9. Shark : ______ : : Slug : Land a. Seaweed b. Ocean c. Sky d. Slide

10. Dog : Kennel : : Bird : ______ a. Fly b. Feather c. Aerie d. Eagle

 20

References

Nocon, R., & Nocon, E. (2018). Essential Mathematics for the Modern World (2nd ed.). C & E
Publishing, Inc.

(2020). Retrieved 24 June 2020, from https://www.wikijob.co.uk/content/aptitude-tests/test-types/logical-

reasoning

Aptitude & Assessment Tests. (2020). Retrieved 24 June 2020, from https://www.assessment-
training.com/Training/Free#/test/252?mode=free

Number Sequences - Square, Cube and Fibonacci. (2020). Retrieved 24 June 2020, from
https://www.mathsisfun.com/numberpatterns.ht
(2020). Retrieved 24 June 2020, from https://www.cimt.org.uk/projects/mepres/allgcse/bkb12.pdf

Reading Educator. (2020). Retrieved 26 June 2020, from

http://www.readingeducator.com/strategies/analogy.htm

Tips to Pass an Analogies Test. (2020). Retrieved 20 July 2020, from https://www.assessment-
training.com/blogs/tips-to-pass-an-analogies-test
Analogies - Examples and Types - Fibonicci. (2020). Retrieved 26 June 2020, from
https://www.fibonicci.com/verbal-reasoning/analogies-examples/

(2020). Retrieved 26 June 2020, from https://elearning.shisu.edu.cn/pluginfile.php

Ratio Examples 4 for Competitive Exams - Math Shortcut Tricks. (2020). Retrieved 20 July 2020, from
https://www.math-shortcut-tricks.com/ratio-example-4/
 21

Unit II Mathematical Language and Symbols

Lesson 1 Elements and Characteristic of the Mathematical Language

Learning Outcomes

At the end of this lesson, you will be able to:

1. Discuss the language, symbols, and conventions of mathematics;
2. Explain the nature of mathematics as a language;
3. Translate mathematical phrases into mathematical expressions correctly.

Definition of Language of Mathematics

The language of mathematics is the system used by mathematicians to

communicate mathematical ideas among themselves.[1] This language consists of a
substrate of some natural language (for example English) using technical terms and
grammatical conventions that are peculiar to mathematical discourse (see Mathematical
jargon), supplemented by a highly specialized symbolic notation for mathematical
formulas.1

Characteristics of Mathematics
● Precise - able to make very fine distinctions.
● Concise - able to say things briefly.
● Powerful - able to express complex thoughts with relative ease.

Mathematical Expression versus Mathematical Sentence

1
(n.d.). Language of mathematics - Wikipedia. Retrieved July 22, 2020, from
https://en.wikipedia.org/wiki/Language_of_mathematics
 22

Every language has its own vocabulary ( the words), its rules for combining these
words into complete thoughts ( the sentence). Mathematical language is classified into
very broad classification between the “ nouns” of mathematics ( used to make
mathematical objects of interest) and the “ sentence” of mathematics ( which state
complete mathematical thoughts).
A mathematical expression is the analogue of an “ English noun”; it is a name
given to a mathematical object of interest. It has lots of different names and the name we
use depends on what we are doing with the expression.

Example types of expressions:

● Numbers
● Sets
● Ordered Pairs
● Matrices
● Functions
● Vectors

A mathematical sentence is the analogue of an “ English sentence”; it is a correct

arrangement of mathematical symbols that t states a complete thought. It makes sense
to ask about the TRUTH of a sentence. It has a verb and connective.

Illustration:
The symbol “ + “ is a connective; a connective
is used to connect objects of a given type to get a
compound object of the same type. If you read the
sentence as “ one plus two is equal to three”.

Two primary ways to decide whether something is a sentence or not:

1. Read it aloud and ask yourself the question : Does it state a complete thought? If the
answer is “ yes”, then it’s a sentence.
2. Alternatively, you can ask yourself the question: Does it make sense to ask about the
TRUTH of this object?
 23

Summary of Analogy

English Mathematics

Name given to an object Noun( person, places, Expression

thing)
Example: 5,4,3,2,1
Example: Carol,
Philippines, book)

A complete thought Sentence Sentence

Example: Example:
The capital of the 3 + 4 =7
Philippines is Manila.
3+4=5
The capital of the
Philippines is Luzon.

Mathematical Phrases
Mathematical phrases can be written as verbal sentences. You should be able to:
- translate verbal sentences into algebraic expressions,
- translate algebraic expressions into phrases.

The product of two and three.

Word „product” indicates, that there should be multiplication of these numbers (“product”
is a result of multiplication).
If there is a word: number, variable or constant, you should write a letter (use letters
from the end of the alphabet for “number” and “variable”, letters from the beginning of the
alphabet for “constant”).

List of words that could translate into each of the mathematical operations.
 24

Addition Subtraction Multiplication Division

Add Subtract Multiply Divide

Increased by Decreased by Product Quotient

Plus Minus Times Shared

Sum Difference Twice Split between

Total Reduced by Of Divided by

More Less than

The symbols +,−,×,÷, represent the four most commonly used mathematical
operations. The operation of multiplication can be represented by the
symbol(×)

Or # ( )or( )( ). Division can be represented by the symbol(÷)or #/#.

Examples: Mathematical phrases (for examples)

addition The sum of two and a number

2+x or
The total of two and a number
or
Two increased by a number
 25

subtraction The difference of twelve and five

or
Twelve decreased by five
or
Twelve less five
or
Five less than twelve

multiplication The product of three and seven

or
Three times seven
*Twice a number

division The quotient of a number and fifteen

fraction of a One-fourth of a number

number

Additive inverse Opposite of a number

exponentiation The fourth power of ten

*The square of three

*The cube of a number

radical expression The square root of four

multiplicative The multiplicative inverse of a number

inverse
or
The reciprocal of a number
 26

https://www.chilimath.com/lessons/introductory-algebra/algebraic-expressions-
worked-examples/

Learning Activities
Activity 1 Fill in the Blanks
Directions: Classify the entries in the list below as:
● An English noun or a mathematical expression
● An English sentence, or a mathematical sentence

1. Cat _____________________
2. The word “cat” begins with the letter K _____________________
3. 1 + 2 = 4 _____________________
4. x _____________________
5. The sentence is false _____________________
6. t + 3 = 3 + t _____________________
7. 5 - 3 _____________________
8. x = 1 _____________________
9. 2 _____________________
10. t + 3 _____________________

Activity 2 Translating verbal phrase into mathematical expression.

Direction: Write each as an algebraic expression. Write your answer on the space
provided. (2 points each number)

1) the difference of 10 and 5 __________________________

2) the quotient of 14 and 7 __________________________
3) u decreased by 17 __________________________
4) half of 14 __________________________
5) x increased by 6 __________________________
 27

6) the product of x and 7 __________________________

7) the quotient of x and y decreased by twice z __________________________
8)nine less than the total of a number and two __________________________
9) The length of a football field is 30 yards more
than its width. __________________________
10) One-half of Adam’s age six years ago. __________________________

Activity 3. Translate into verbal phrases.

Direction : Write your answer on the space provided. (2 points each number)
1. 7y _____________________________________
2. 2a / 3 _____________________________________
3. 5x - 4 _____________________________________
4. 3 (x + 6) _____________________________________
5. 2x + 10 _____________________________________

Mastery Test

Part I True or False

Directions: On the space provided before each item, write TRUE
when the statement is factual and FALSE when it is erroneous.

_________1. Verbal phrases can be translated into variable expressions.

________2.The mathematical expression of “ a number divided by three plus twelve” is “ x/3
+ 12” .
________3. The mathematical phrase of “4/x + 16/y” is “a number divided by four plus
another number divided by sixteen”.
________4. If something is a sentence, then its not an expression.
________5.Ordered pairs is an example of mathematical sentence.
________6. 1 + 5 = 7 is a mathematical expression.
________7. 2/4 and ½ are both the different number.
________8. The symbol “+” is a connectives.
 28

________9. The letter “x” is a mathematical sententence that is commonly used in

mathematics to represent a number.
_______10. “ Nouns” of mathematics is used to name mathematical objects of interest.

Part II
Translate into Mathematical phrase
Direction : Write your answer on the space provided. (2 points each number)
1. 7+x/2 ______________________________
2. 8+y ______________________________
3. 5m + n ______________________________
4. 5 (m + n) ______________________________
5. 3 (p - n) ______________________________
Translate into Mathematical expression
Direction : Write your answer on the space provided. (2 points each number)
1. The difference of fourteen times p and n ______________
2. Sixteen less than a number times negative four _____________
3. Four less than x _____________
4. The sum of twice a number and 6 _____________
5. Four subtracted from seven _____________
 29

References

(2020). MATH: Algebraic expressions: mathematical phrases. Retrieved 23 July 2020,

from http://www.mathquickeasy.com/mathematica

(2020) . Retrieved 23 July 2020, from https://www.chilimath.com/lessons/introductory-

algebra/algebraic-expressions-worked-examples/

(2020). Lesson - Translate Phrases to Mathematical Expressions.Retrieved 23 July

2020, from https://www.brainfuse.com/jsp/alc/resource.jsp?s=gre&c=35532&cc=108822

(2020). Translation of Mathematical Phrases into Verbal Phrases and Vice Versa.
Retrieved 23 July 2020, from http://anibmlaya.blogspot.com/
 30

Unit II Mathematical Language and Symbols

Lesson 2 Basic Concept of Sets

Learning Outcomes

At the end of this lesson, you will be able to :

1. Explains basic set notation, symbols, and concepts, including "roster" and "set-
builder" notation.
2. Identify different type of sets;
3. Read and write sets using set builder-notation;
4. Solve the basic operation of sets; and
5. Recognize that a Venn diagram is a visual representation of a set.

Definition of Set

In Cantors naïve set theory, a set is described as a well-defined

collection of objects. These objects are called the elements or
members of the set. Objects can be anything: numbers, people, other
sets, etc. It must be related and well defined.

● Vowels in the English alphabet V = { a, e, i, o, u }

● First seven prime numbers. X = { 2, 3, 5, 7, 11, 13, 17 }

Naming of Set

A set is named using a capital letter. Each object of a set is called an element or a
member of a set. The elements of a set are enclosed by braces.

B = {2, 4, 6, 8, 10}
 31

The individual objects in a set are called the elements or members of the set.

The symbol ∈ is used to indicate that an object is an element or member of the set.

F = {ruler, ballpen and notebook}

ruler ∈ F cellphone ∈ F

The cardinality of a set is the number of elements contained in that set. The
cardinality of a set A is written as n(A).

Example:
A= {2, 4, 6, 8, 10} n(A) = 5

Representation of Sets

1) Roster Method or Listing method - The set can be defined by listing all its elements,
separated by commas and enclosed within braces. This is called the roster method.
Example:
B = {2, 4, 6, 8, 10}
X = {a, b, c, d, e}

2) Set-Builder Notation or Rule Method - The set can be defined, where possible, by
describing the elements. This is called the set-builder notation.
Example:
A = {x | x is a vowel of the English alphabet }
This is read as:
“ A is the set of all x such that x is a vowel of the English alphabet.”

C = {x : x is an integer, x > – 3 }
 32

This is read as:

“C is the set of elements x such that x is an integer greater than –3.”

3) Venn Diagram - It uses overlapping circles or other shapes to illustrate the logical
relationships between two or more sets of items. Often, they serve to graphically organize
things, highlighting how the items are similar and different.

Example 1: Given set R is the set of counting numbers less than 7. Draw and
label a Venn diagram to represent set R and indicate all elements in
the set.

Analysis: Draw a circle or oval. Label it R.Put the elements in R.

Summary

Some Important Symbols

● N — Natural or Counting numbers: {1, 2, 3, . . . }

● W — Whole Numbers: {0, 1, 2, 3, . . . }
● I — Integers: {. . . , -3, -2, -1, 0, 1, 2, 3, . . . }

● Q — Rational numbers: { p q | p, q ∈ I, q 6= 0 }

● R < — Real Numbers: { x | x is a number that can be written as a decimal }

● Irrational numbers: { x | x is a real number and x cannot be written as a quotient of

integers }. Examples are: π, √ 2, and √3 4
 33

● ∅ — Empty Set: { }, the set that contains nothing

● U — Universal Set: the set of all objects currently under discussion

Types of set

There are many types of set in the set theory:

1. Singleton Set or Unit Set- If a set contains only one element it is called to be a singleton
set.

Example: S = { x | x ∈ N, 7 < x < 9 } S={8}

2. Finite Set- A set is called a finite set if the members of the set can be counted.

Examples: (i) , which has 4 members. (ii) , which

has 10 members.

3.Infinite Set - A set is called an infinite set if it it has countless members.

Examples: (i) The set of whole numbers. (ii)

It is not easy to write infinite sets in the tabular form because it is not possible
to make a list of an infinite number of members. The example (i) can be written in the
tabularform as

4. Empty Set or Null Set - An empty set contains no elements. It is denoted by ∅ or { }. As

the number of elements in an empty set is finite, empty set is a finite set. The cardinality of
empty set or null set is zero.

Example: S = { x | x ∈ N and 7 < x < 8 } = ∅

The set { ∅ } is not empty, but is a set which contains the empty set .

5. Subset - A set X is a subset of set Y (Written as X ⊆ Y) if every element of X is an element

of set Y.
 34

Example: 1 − Let, X = { 1, 2, 3, 4, 5, 6 } and Y = { 1, 2 }. Here set Y is a subset of set

X as all the elements of set Y is in set X. Hence, we can write Y ⊆ X.

Example: 2 − Let, X = { 1, 2, 3 } and Y = { 1, 2, 3 }. Here set Y is a subset (Not a proper

subset) of set X as all the elements of set Y is in set X. Hence, we can write Y ⊆ X.

6. Proper Subset - The term “proper subset” can be defined as “subset of but not equal to”.
A Set X is a proper subset of set Y (Written as X ⊂ Y ) if every element of X is an element of
set Y and $|X| < |Y|.

Example − Let, X = { 1, 2, 3, 4, 5, 6 } and Y = { 1, 2 }. Here set Y ⊂ X since all elements

in X are contained in X too and X has at least one element is more than set Y.
Any set is a subset of itself. Any set is a subset of the universal set The empty
set is a subset of every set including itself.

7. Power setIf A is a set, the power set of A is another set, denoted as P(A) and defined to
be the set of all subsets of A. In symbols, P(A)={X:X⊆A}.

Example:
Suppose A={1,2,3} The power set of A is the set of all subsets of A. We learned how
to find these subsets in the previous section, and they are {},{1},{2},{3},{1,2},{1,3},{2,3} and

{1,2,3}. Therefore the power set of A is P(A)={∅,{1},{2},{3},{1,2},{1,3},{2,3},{1,2,3}}

If a finite set A has n elements, then it has 2^n.

8. Equal Set - If two sets contain the same elements they are said to be equal.

Example − If A = { 1, 2, 6 } and B = { 6, 1, 2 }, they are equal as every element of set A

is an element of set B and every element of set B is an element of set A.
 35

9. Equivalent Set - If the cardinalities of two sets are same, they are called equivalent sets.

Example − If A = { 1, 2, 6 } and B = { 16, 17, 22 }, they are equivalent as cardinality of A

is equal to the cardinality of B. i.e. |A| = |B| = 3

10. Disjoint Sets - Two sets which have no elements in common.Two sets A and B are called
disjoint sets if they do not have even one element in common. I.e., their intersection is empty:
A∩B=∅

Therefore, disjoint sets have the following properties −

● n(A ∩ B) = ∅
● n(A ∪ B) = n(A) + n(B)

Example − Let, A = { 1, 2, 6 } and B = { 7, 9, 14 }, there is not a single common element,

hence these sets are overlapping sets.

11. Universal Set - Any set which is a superset of all the sets under consideration is said to
be universal set and is either denoted by omega or S or U.

Let A = {1, 2, 3}
C = { 0, 1} then we can take
S = {0, 1, 2, 3, 4, 5, 6, 7, 8, 9} as universal set.

Set Operation
Finding intersections, unions, and complements of sets are examples of set
operations.An operation is a rule or procedure by which one or more objects are used to
obtain another object (usually a set or number).
A universal Set for a particular problem is a set which contains all the elements of all
the sets in the problem. A universal set often denoted by a capital U. In this section we will
 36

create subsets of a given universal set and use set operations to create new subsets of the
universal set.

There are three set operations we will learn in this section.

 Complement - The complement of a set A is symbolized by A’ and it is the set of all
elements in the universal set that are not in A.

 Intersection - The intersection of sets A and B is symbolized by A ∩ B and is the set

containing all of the elements that are common to both set A and set B.

 Union - The union of set A and B symbolized by A U B and is the set containing all the
elements that are elements of set A or of set B or that are in both Sets A and B.

Learning Activities

Activity I
A. Directions: Identify which of the following are sets. Write the letter
only and justify your answer.

(a) The collection of all the days in a week beginning with the letter ‘T’.
(b) The collection of all difficult questions in the chapter on sets.
(c) The collection of girls in your class.
 37

(d) The collection of all rivers in India.

(e) The collection of all active teachers in the school.
(f) The collection of all integers more than -3.
(g) The collection of all beautiful flowers in the park.

Answer:
________________________________________________________________________

_________________________________________________________________________
_________________________________________________________________________
____________

B. Directions : State whether the following are true or false.

(a)________ The set of letters in the word MASTER is finite.

(b) _______The set of vowels in the word PLANET is an empty set.
(c)________ {0} represents a null set.
(d) ________Equivalent sets are always equal.
(e) ________An empty set is a finite set.
(f) ________10 ∉ set of multiples of 5.
(g) _______4 ∈ {x : 4 ≤ x ≤ 10}
(h) _______If two sets are equal, they are also equivalent.

C. Given : If,

A = {3, 5, 7, 9}
B = {2, 4, 6, 8, 10}
C = {12, 14, 18, 20, 24}
D = {21, 26, 31, 36}

Directions: State whether true or false.

(i) 13 ∈ C ________
(ii) 6 ∉ A _________
(iii) 9 ∉ A ________
(iv) 24 ∈ C _______
(v) 31 ∈ D ________
(vi) 36 ∉ D ________
(vii) 20 ∉ C _______
(viii) 9 ∈ A ________
 38

Activity II

Directions: Write the following sets in the roster form.

(a) A = The set of all even numbers less than 12

(b) B = The set of all prime numbers greater than 1 but less than 29
(c) C = The set of integers lying between -2 and 2
(d) D = The set of letters in the word LOYAL
(e) E = The set of vowels in the word CHOICE
(f) F = The set of all factors of 36
(g) G = {x : x ∈ N, 5 < x < 12}
(h) H = {x : x is a multiple of 3 and x < 21}

B. Directions: Write each of the following in set builder form.

(a) A = {5, 10, 15, 20}

(b) B = {l, 2, 3, 6, 9, 18}
(c) C = {P, R, I, N, C, A, L}
(d) D = {0}
(e) E = { }

Activity III

Directions: Write the cardinal number for each of the following.

(a) X = The set of months in a year

(b) Y = The set of letters in the word INTELLIGENT
(c) Z = The set of prime numbers from 2 to 11
(d) P = {x : x is an even prime number}
(e) Q = {x : x is a quadrilateral having 5 sides}

Activity IV

Directions: Classify the following as finite and infinite sets.

(a) ________________ A = {x : x ∈ N and x is even}

(b) ________________B = {x : x ∈ N and x is composite}
(c)_________________ E = {The set of numbers which are multiples of 3}
(d) ________________G = {The set of letters in the English alphabet}
(e) ________________H = {The set of persons living in a house}
(f) ________________I = {x | x ∈ I, x < -2}
(g) ________________J = {x | x ∈ P, p is a prime number}

Activity V

Directions: Are two sets A and B equal? Give reasons to support your answer.
 39

(a) A = {x : x is a letter in the word SEAT}

B = {x : x is a letter in the word TASTE}

_________________________________________________________________________

(b) A = {2, 6, 10, 14}

B = {6, 2, 14, 16}

_________________________________________________________________________

(c) A = {1, 3, 5, 7, 9}
B = {x : x is a positive odd integer x ≤ 9}

_________________________________________________________________________
_

(d) A = {0}
B = {x : x > 15 and x < 5}

Activity VI

Directions: How many elements are there in power set if

(a) A = {ϕ} ____________

(b) B = {a, b} __________

(c) C = {l, m, n} _________

(d) D = {4, 9} ___________

Activity VII.
Directions: Solve the following and show your solution.

1. If A = {1, 3, 5, 7, 9} and B = {2, 3, 5, 7}, what is A ∪ B?

2. If A = {1, 3, 5, 7, 9} and B = {2, 3, 5, 7}, what is A ∩ B?
3. If X = {a, e, i, o, u} and Y = {a, b, c, d, e}, then what is Y - X ?
 40

From the above Venn diagram,

4. what is the set U - T?

5. What is the set V’ U T
6. If
P = The set of whole numbers less than 5
Q = The set of even numbers greater than 3 but less than 9
R = The set of factors of 6
Then what is (P ∩ Q) ∪ (Q ∩ R)?
7. If
P = The set of whole numbers less than 5
Q = The set of even numbers greater than 3 but less than 9
R = The set of factors of 6
Then what is (P ∪ Q) ∩ (Q ∪ R)?

Answer Sheet:
 41

Mastery Test

I. Given : If,

A = {3, 5, 7, 9}
B = {2, 4, 6, 8, 10}
C = {12, 14, 18, 20, 24}
D = {21, 26, 31, 36}

Complete the statement to make it true. Fill in the blanks.

(i) 3 ∈ _____
(ii) 4 _____ B
(iii) 26 ____ C
 42

(iv) 8 ∈ ____
(v) 5 ____ A
(vi) 6 ____ C
(vii) 21 ____ D
(viii) 18 ____ B

II. Identify the following as null set or singleton set.

(a) ___________A = {x | x ∈ N, 1 < x < 2}

(b) ___________P = {Point of intersection of two lines}
(c) ___________C = {x : x is an even prime number greater than 2}
(d) ___________Q = {x | x is an even prime number}
(e) ___________R = {The set of whole numbers lying between 0 and 2}
(f) ____________B = {0}
(g)____________ D = {The set of largest 1 digit number}
(h)___________ F = {The set of triangles having 4 sides}
(i) ___________H = {The set of even numbers not divisible by 2}

III. Which of the following pairs of sets are equivalent or equal?

(a) A = {x : x ∈ N, x ≤ 6}
B = {x : x ∈ W, 1 ≤ x ≤ 6}

(b) P = {The set of letters in the word ‘plane’}

Q = {The set of letters in the word ‘plain’}

(c) X = {The set of colors in the rainbow)

Y = {The set of days in a week}

(d) M = {4, 8, 12, 16}

N = {8, 12, 4, 16}

(e) A = {x | x ∈ N, x ≤ 5}
B = {x | x ∈ I, 5 < x ≤ 10}

Equal Sets: ____________________________

Equivalent Sets: ________________________

IV. Solve the following. Write the final answer only on the space provided

U = {1,2,3,4,5,6} S = {2,4,6} T = {1,2,4} V = {4,5,6}

1. S U ( T ∩ V ) ________________________
 43

2. ( S U T )’ ________________________

3. S ∩ ( V ∩ T’) ________________________

4. (S’ U V’) ∩ T ________________________

5. T U V’ U S’ ________________________
 44

References

(2020). Retrieved 24 July 2020, from https://people.cs.pitt.edu/~milos/courses/cs

powerpoint compilation l Math 7 – Google Drive. (2020). Retrieved 24 July 2020, from
https://drive.google.com/drive/folders/1poV

Venn Diagrams | Math Goodies. (2020). Retrieved 24 July 2020, from

https://www.mathgoodies.com/lessons/sets/venn_diagrams

(2020). Retrieved 24 July 2020, from https://castle.eiu.edu/~mathcs/mat2120/index/set03-

2x3.pdf

Maths, B., ampem, o., Numbers, C., Equations, Q., Numbers, M., & Numbers, C. et al. (2015).
Different Type of Sets. Retrieved 24 July 2020, from https://www.mathstips.com/different-
type-of-sets/

Types of a Set. (2020). Retrieved 24 July 2020, from https://www.tutorialspoint.com/types-of-

a-set

1.4: Power Sets. (2020). Retrieved 24 July 2020, from

https://math.libretexts.org/Courses/Borough
 45

Unit II Mathematical Language and Symbols

Lesson 3 Function and Relations

Learning Outcomes

At the end of this lesson, you will be able to:

1. Define Function;
2. Differentiate a function from a mere relation : Set of ordered pairs, graph of a given set of
ordered pairs, vertical line test, given equation;
3. Determine if a given relation is a function using ordered pairs, graphs and equations
4. Illustrate the meaning of function f (x);
5. Determine the value of f(x) given a value for x.

Introduction
“Relations and Functions” is one of the most important topics in
algebra. Relations and functions – these are the two different words having
different meaning mathematically. You might get confused about their
difference. Before we go deeper, let’s understand the difference between
both with a simple example.
An ordered pair represents (INPUT, OUTPUT): An ordered-pair number is a pair of
numbers that go together. The numbers are written within a set of parentheses and separated
by a comma. For example, (4, 7) is an ordered-pair number; the order is designated by the
first element 4 and the second element 7. The pair (7, 4) is not the same as (4, 7) because
of the different ordering. Sets of ordered-pair numbers can represent relations or functions.
The relation shows the relationship between INPUT and OUTPUT. Whereas a
function is a relation that derives one OUTPUT for each given INPUT.
 46

All functions are relations, but not all relations are functions.

What is a Function?
A function is a relation that describes that for each input there should only be one
output or we can say that a particular type of relationship (a set of ordered pairs) that follows
a rule is called a function, i.e. each X-value should be associated with only one y-value.

Domain-It is a collection of the first values in the ordered pairs (Set of all input (x) values).
Range-It is a collection of the second values in the ordered pairs (Set of all output (y) values).

Don’t consider duplicates while writing Domain and Range and also write it in
increasing order.

What is the Relation?

It is a subset of the Cartesian product. Or simply, a bunch of points(ordered pairs).
Example: {(-2, 1), (4, 3), (7, -3)}, usually written in set notation form with curly brackets.

Relation Representation
There are other ways too to write the relation, apart from set notation such as through tables,
plotting it on XY- axis or through mapping diagram.
How to Determine if a Relation is a Function?
A function is a relationship between a first set, named the domain, and a second set,
called the range, such that each domain member corresponds to exactly one range member.
● State the domain and range of the following relation. Is the relation a function?
{(2, –3), (4, 6), (3, –1), (6, 6), (2, 3)} domain: {2, 3, 4, 6} range: {–3, –1, 3, 6}

Examples: Using Mapping Diagram

 47

1.

2..
Although the inputs equal to -1 and 1 have the same output, this relation is still a function
because each input has just one output.

3.
This mapping is not a function. The input for -2 has more than one output.

● A feature graph f is a drawing hat containing all pairs of input-outputs, (x, f(x)). The
graph of a function in cases where the function is given by an equation is the graph of
equation y = f(x).
"Is it a function?" - Quick answer without the graph

Think of all the graphing that you've done so far. The simplest method is to solve for
"y =", make a T-chart, pick some values for x, solve for the corresponding values of y, plot
your points, and connect the dots, yadda, yadda, yadda. Not only is this useful for graphing,
but this methodology gives yet another way of identifying functions: If you can solve for "y =",
then it's a function. In other words, if you can enter it into your graphing calculator, then it's a
function. The calculator can only handle functions. For example, 2y + 3x = 6 is a function,
because you can solve for y:
 48

2y + 3x = 6
2y = –3x + 6
y = (–3/2)x + 3

On the other hand, y2 + 3x = 6 is not a function, because you can not solve for a unique y:

I mean, yes, this is solved for "y =", but it's not unique. Do you take the positive square
root, or the negative? Besides, where's the "±" key on your graphing calculator? So, in this
case, the relation is not a function. (You can also check this by using our first definition from
above. Think of "x = –1". Then we get y2 – 3 = 6, so y2 = 9, and then y can be either –3 or
+3. That is, if we did an arrow chart, there would be two arrows coming from x = –1.)

● The vertical line check-a graph represents a function if a vertical line which intersects
the graph more than once is impossible to draw.

Use the following criteria to decide whether y is a function of x, given a graph of a

relationship: if each vertical line you can draw goes through only 1 point, y is a function of x.
When a vertical line can be drawn that goes through 2 lines, y is not a function of x. It is
known as the vertical line check.

Example 1: In the following graph, y is a function of x:

Passes Vertical Line Test

 49

Example 2: In the following graph, y is not a function of x:

Fails Vertical Line Test

In order to decide whether x is a function of y, given a graph of a relationship, using

the following criterion: if each horizontal line you can draw passes only 1 point, x is a function
of y. If you are able to draw a horizontal line going through 2 points, x is not a function of y. It
is known as the horizontal line check.

Example 1: In the following graph, x is a function of y:

Passes Horizontal Line Test

Example 2: In the following graph, x is not a function of y:

 50

Fails Horizontal Line Test

51
52
 53

Learning Activities

Activity I
54
55
56
57
 58

Activity II

Activity III
Relations, Functions, Domain, and Range
I. State the domain and range of each relation, then state whether the relation is a function.
Explain your reasoning.
1.{(-1,2), (3,10), (-2,20),(3,11)}
_________________________________________________________________________
_________________________________________________________________________
_______________________________________________________
 59

2.{(0,2),(13,6),(2,2),(3,1)}
_________________________________________________________________________
_________________________________________________________________________
_______________________________________________________
3.{(1,4), (2,8), (3,24)}
_________________________________________________________________________
_________________________________________________________________________
_______________________________________________________

II. Given that x is an integer, state the relation representing each of the following by listing a
set of ordered pairs.
4. y = 3x2–5, where 0<x<5
_________________________________________________________________________
_____________________________________________________________
5. y = 4x –5, where -1<x<3
_________________________________________________________________________
_____________________________________________________________

III. Given , find each of the following:

6. f(6)= ____________
7. f(13)= ____________
IV. Given each mapping diagram, write the corresponding set of ordered pairs and
determine
whether each is a function or relation. Explain your reasoning.

8.
_________________________________________________________________________
_________________________________________________________________________
_______________________________________________________

9.
 60

_________________________________________________________________________
_________________________________________________________________________
_______________________________________________________

Mastery Test

Multiple Choice test

Direction: Encircle the correct answer.

1. Using the vertical line test, determine if the graph above shows a relation, a function,
both a relation and a function, or neither a relation nor a function.

A.neither a relation nor a function C. both a relation and a function

B. relation only D. function only
 61

2. Which of these graphs represents a function?

A. Z B. X C. W D. Y
3. Which of these t-tables represents a function?

A. W B. Y C. Z D. X

4. Which of these graphs represent a function?

 62

A.Z B. W C. X D. Y

5. Which of the following relations describes a function?

6. Do the ordered pairs below represent a relation, a function, both a relation and a
function, or neither a relation nor a function? ( -2,1), (1,-4), (7-10), (8,-11)
A. Neither a relation nor a function
B. Both a relation and a function
C. Relation only
D. Function only
 63

7. Determine whether this picture is an example of a function, relation, function and relation,
or neither relation nor function.
A. Function and relation
B. Function only
C. Relation only
D. Neither function nor relation
8.Which relation diagram represents a function?

A. Z B. X C. W D. Y
9. Which of the following relations describes a function?

10. Which of these graphs represents a function?

 64

A. Y B. X C. Z D. W
11. Which relation diagram represents a function?

A. W B. X C. Y D. Z
12. Which of the following relations describes a function?
 65

13. Which of these mappings is a function?

A. W B. Z C. X D. Y
14. Which of these graphs represents a function?
 66

A. X B. W C. Y D. Z

15. Which of these mappings is a function?

A. W B. Y C. X D. Z
 67

16. Which of the following represents a relation and not a function?

17. Think about the vertical line test and answer the following question. Would a vertical
line be a relation, a function, both a relation and a function, or neither a relation nor a
function?
A. Function only
B. Both a relation and a function
C. Neither a relation nor a function
D. Relation only
18. Which of the following graphs is not a function?
 68

A. Y B. W C. Z D. X
19. Which of these t-tables represents a function?

A. X B. Z C. Y D. W
20. Which of the following relations describes a function?
 69

References

Algebra II: Functions: Relations and Functions | SparkNotes. (2020). Retrieved 12 August
2020, from https://www.sparknotes.com/math/algebra2/fu

Stapel, E. (2020). Functions versus Relations. Retrieved 12 August 2020, from

https://www.purplemath.com/modules/fcns.ht

Relations and Functions (solutions, examples, videos). (2020). Retrieved 12 August 2020,
from https://www.onlinemathlearning.com/relation-function.html
(2020) . Retrieved 13 August 2020, from https://www.dublin.k12.ca.us/cms/lib/CA0(2021)
(2020). Retrieved 13 August 2020, from https://math.uiowa.edu/sites/math.uiowa.edu
(2020). Retrieved 13 August 2020, from http://www.tsfx.com.au/wp-
content/uploads/2018/03/W2-Function-Relation01.pdf

Relations and Functions - Definition, Types, and Examples. (2020). Retrieved 12 August
2020, from https://byjus.com/maths/relations-and-functions/
 70

Unit III The Mathematics of Finance

Lesson 1
Simple
Interest
Learning Outcomes

At the end of the lesson the students should be able to do the following:

 Define and discuss simple interest; and

 Calculate the amount of interest using the simple interest formula

Simple Interest

In financial transactions an interest is the amount paid

by a borrower to a lender for the use of money over a period.

 71

Interest that is paid as a percent of amount borrowed or invested

is called simple interest. Moreover, Interest is defined as free

of money or goods invested as share or percentage of the lender

or depositor who invested or deposited a certain interest rate and

at a given period of time serves as incentive to him. The principal

amount or goods invested must be returned to the lender or depositor plus

Interest as share or free.

It is a common practice to borrow money to

buy an asset; others borrow money to set up a
business. Lending money is meant to benefit both
the lender and the borrower. The lender benefits by
receiving a fee called interest from the borrower’s
use of the money lent. The borrower benefits, too,
by availing of money that can be used for
investment, production of goods, or even
consumption.

The date on which borrowed money is received by the borrower is called

origin date, the date on which loan is to be completely repaid is called the
repayment or maturity date. The length of time between the origin and the maturity
date is called the term of the loan.

Interest that is computed based only on the amount received by the borrower
on origin date is called simple interest. Thus, at simple interest, the interest earned
each year is constant. Such interest depends on three factors:

1. the principal P, expressed in currency, which is the sum received by the

borrower on origin date;
 72

2. the simple interest rate r, expressed in percent, which is the annual rate set
by the lender and is to be computed on P; and

3. the term of the loan t, expressed in years, which is the time between the
origin and maturity dates.

The formula for simple interest is given by the following:

Example 1. Suppose Kiko wanted to invest an amount for 2 years at a financial

institution that gives a simple interest of 3% per year. The interest rate
was given to Kiko by the financial institution on the assumption that he
cannot withdraw the investment within the 2-year period. How much is
Kiko’s earning on the investment after the 2-year period?
 73

Solution:

The following can be obtained from the problem: P = 50,000 , r = 0. 03 , t = 2.

Is = Prt = (50, 000) (0.03) (2) = 3,000

From this we could conclude that, the investment

earned Php. 3, 000.

Interest can be viewed as a lender or a borrower. Sometimes

if we are the investor, we consider the value of our investment

after a given period. In this case we introduce the concept of

future values or accumulated values or maturity value.

Example 2. April wants to borrow from a bank that gives an annual interest rate

of 4.5%. However, she only wants to borrow the fund for a 9-month
period and will be able to pay the bank immediately after 9 months.
 74

How much interest is she going to pay from borrowing the amount of
money? What is the accumulated value of the amount borrowed after
the 9-month period?

Solution:

The following can be obtained from the problem: P = 40, 000 , r = 0. 045 , t = 0.75
since she only borrowed the fund for 9-months which is ¾ of a year.

Is = Prt = ( 40, 000 ) ( 0. 045 ) ( 0.75 ) = 1, 350.

From this we conclude that, the interest due is Php. 1, 350

F = P + Is = 40, 000 + 1, 350 = 41, 350

In this example the accumulated value of the amount borrowed is F = P +

Is that is; the sum of the principal amount or the amount borrowed and
the interest. Thus, after nine months, April will pay the bank Php. 41, 350.

Example 3. What is the simple interest rate applied if an investment of

Php37,500 accumulates to Php41,812.5.00 in the period of 5 years?

Solution:

We note that the interest earned by the investment is Php4312.5 that is, Is = 4,
312.50.

From the formula

 75

Example 4. The repayment on a loan was Php16,275. If the loan was for 15 months
or 1.25 years at 6.8% interest a year, how much was the principal?

Solution:

Based from the given we have the following: F = 16, 275 , r = 0.068 , and t = 1.25

Suggested video link:

https://www.youtube.com/watch?v=NCYNXkbTTUo

https://www.youtube.com/watch?v=ZWCXrbnMN-E

https://www.youtube.com/watch?v=J-vSFTGxzHM

https://www.youtube.com/watch?v=gcjIvprSATU

Activity 1

Directions:
 76

I. Multiple Choice

Directions: Choose the letter of the correct answer.

1. What sum would yield an interest of $36 in 3 years at 3% p.a.?

a. $400 b. $600 c. $500

2. At what rate per cent per annum will $250 amount to $330 in 4 years?

a. 9% b. 8% c. 10%

3. Ken borrowed $2000 from Sam at 8% per annum. After 6 year he cleared the
amount by giving $2600 cash and a watch. Find the cost of the watch.

a. $300 b. $460 c. $360

4. Find the simple interest at the rate of 5% p.a. for 3 years on that principal which in
4 years, 8 months at the rate of 5% p.a. gives $1200 as simple interest.

a. $770.42 b. $771.42 c. $871.42

5. In how many years will $400 yield an interest of $112 at 14% simple interest?

a. 2 years b. 3 years c. 5 years

II. Find the simple interest and amount in each of the following:

Directions: On a separate sheet of paper solve and show your solution.

 77

(1) P = $1800 R = 5% T = 1 year

(2) P = $2600 R = 12% T = 3 years

(3) P = $3125 R = 15% T = 73 days

 78

Lesson 2:
Finding
Principal,
Rate,
and Time

Learning Outcomes

At the end of the lesson the students should be able to do the following:

 Calculate principal given rate, interest earned, and time

 Calculate the amount of interest earned given the rate, time and
principal

 Calculate the interest rate given principal, time in months, and interest
earned

 Determine how much was borrowed to buy a car given interest, rate
and time
 79

Finding Principal, Rate and Time

Aside from finding the interest and maturity value of a loan or

An investment, formulas maybe derived for finding the principal,

Rate, and time. These formulas are:

Example 1. Lisa’s Health Spa obtained a loan to open a new station. The interest on
the loan secured was Php.22, 000 and the money borrowed was for 3
months at 5.5% simple interest. Find the principal borrowed.

Solution:

Given: Is = Php. 22, 000 r = 0.055 t = 3 months = 3/12 or 0.25 year

Find P.

P = Is / rt = 22, 000 / (0.055) (0.25) = Php. 1.6 million

 80

Example 2. Determine the simple interest rate if an investment of Php. 37, 500
accumulates to Php. 45, 937.50 in 18 months.

Solution:

Given : P = Php. 37, 500 F = Php. 45, 937.50

t = 18 months= 18/12 or 1.5 yrs

Find R.

R = (F - P) / Pt = (45, 937.50 - 37, 500) / (37, 500) ( 1.5 )

= 0.15 = 15%

Example 3. If Php. 5, 000 lent at 18% simple interest earned Php. 450 interest, for
how long was the Php. 5, 000 lent?

Solutions:

Given: P = Php. 5,000 r = 0.18 Is = Php. 450

Find t.

t = Is/ Pr = 450/ (5, 000) ( 0.18) = 0.5 year = 6 months

 81

Activity 2

Directions: Solve the following problems:

1. Eduardo noticed that his new car loan papers stated that with an interest rate of
7.5%, he would pay $6, 596. 25 interest over 5 years. How much did he borrow to
pay his car?

2. The repayment on a loan was Php. 12, 100. If the loan was for 15 months at the

rate of 16.8% simple interest, how much was the principal?

3. Caroline got $900 as graduation gifts and invested it in a 10-month certificate of

deposit that earned 2.1% interest. How much interest did this investment earn?

II. Complete the Table below.

For each of problems, find the missing quantities.

P r/year t Is F

1. 17.4% 2 years ₱522 2.

₱7, 200 3. 7 months ₱352.80 4.

₱5,400 13.8% 5. ₱1,117.80 6.

7. 8. 1.5 years ₱ 787. 50 ₱4, 287.50

₱6,800 0.156 9. 10. ₱9, 448.28

 82

Lesson 3:
Finding Time
Between
Two Dates

Learning Outcomes

At the end of the lesson the students should be able to do the following:

 Calculate the number of days, months, or years between two dates

 83

Different ways of expressing time/term

of a loan or investment.

Sometimes the term of investment is not given

in years. The term or time frame given in certain

problems maybe stated in days or months. In cases

where the time is expressed in months it is easy to

express it in years. But when the term/time is given

in days we use a time factor such as the following:

Example 5. Find the actual and approximate time from May 1, 1983 to September
15, 1983.

Example 6. Find the actual and approximate time from April 15, 2008 to December
21, 2008.
 84

Example 7. Find the actual and approximate time from June 25, 2008 to Nov 18,
2008.

Finding Time Between Two Dates

Lenders, personal or institutional, use two methods for

replacing t in the formulas which involve simple interest

when the loan term is expressed in days, D. The use of D/360

for t in Is = Prt results in simple interest called ordinary interest.

It is different from exact interest which can be obtained by using

 85

D/ 365 for t. Unless specified in the problem, the interest to be

Computed is ordinary interest, in which case the divisor for the

number of days is 360.

Example 1. Find the interest due on loan of ₱5, 400 at 15.6%

simple interest for 100 days using

a) ordinary interest

b) exact interest

Solution :

Given: P = ₱5, 400 r = 15.6% = 0.156 t= 100 days

Find Is

a. Is = Prt = (5,400) (0.156) (100/360) = ₱234

b. Is = Prt = (5,400) (0.156) (100/365) = ₱230.79

Example 2. Using exact interest, determine the amount due on ₱14, 000 invested at
18.25% simple interest for 130 days.
 86

Solutions:

Given: P = ₱14, 000 r = 18.25% = 0.1825 t = 130/365 yr.

Find F.

F = P ( 1 + rt )= 14, 000 [ 1+0.1825(130/365)] = ₱ 14, 910

Activity 3

Directions: Solve the following problems.

1. Find the actual and approximate time from May 2, 2019 to December
14 of the same year.

2. Les borrowed ₱8, 600 on December 2, 2019 which is to be repaid on

May 21, 2020 at 16.2% simple interest. Find the amount to be repaid
using Banker’s Rule. How much is the interest paid?

3. Find the interest using the data given in problem no. 2 using

a) ordinary interest, approximate time

b) exact interest, actual time

c) exact interest, approximate time

 87

4. Find the interest due on loan of ₱6, 500 at 13%

simple interest for 100 days using

a) ordinary interest

b) exact interest

I. Determine the Actual and Approximate number of days in the given origin and
repayment dates. Answer in a one whole sheet of paper.

Origin Date Repayment Date Actual Time Approximate

Time

A May 22, 1995 July 9. 1995

B January 6, 1997 November 6, 1997

C March 3, 2007 October 11, 2007

D February 4, 1990 November 5, 1992

E March 2, 2005 November 5, 2006

 88

Lesson 4:
Present
Value

Learning Outcomes

At the end of the lesson the students should be able to do the following:

 Calculate present value and future value

 89

Present Value

The current value of an amount which is due at some

future time is called its present value. Insofar as this section is

out at a simple interest rate. Thus, from the formula

F = P ( 1 + rt ), we solve for P and obtain

P = F/( 1 + rt )

Where the principal P is the present value of F, which is the amount that a lender
receives from a borrower on the repayment date.

Example 1. How much must be invested today in

order to have ₱ 15, 500 available in 2 years if
money is worth 12% simple interest?

Solution:

Given: F = ₱15, 500 r = 0.12

t = 2 yrs.

Find P.

P = F / ( 1 + rt ) = 15. 000/( 1+ (o.12) ( 2) = ₱

12, 500
 90

2. Determine the present value of a 4- month,

13.5% simple interest loan if its final
amount is ₱31, 350.

Solution :

Given: F = ₱31, 350 r = 0.135 t = 4 months = 4/12 yr

Find P.

P = F / ( 1 + rt ) = 31, 350/ ( 1 + (0. 135) (4/12) = ₱ 30, 000

Activity 4

Solve the following problems.

1. Find the present value of ₱89, 000 due in 5 years. If money is worth 12%
simple interest.

2. What sum would accumulate to ₱637, 000 in 10 years at 11.25% simple

interest?

3. At 14% simple interest, find the present value of ₱91, 125 due in 30 months.
 91

4. Find the present value of a 45-day indebtedness that bears 9% simple

interest and has a maturity value of ₱24, 450.

5. How much should Mr. R Bueno deposit now in a bank that pays 5% simple
interest in order to have ₱24, 300 in 2 years?
 92

Lesson 5:
Discount
Interest

Learning Outcomes

At the end of the lesson the students should be able to do the following:

 Define discount interest; and

 Calculate the discount interest from a given problem.

 93

Discount Interest

Like simple interest, discount interest is also an amount paid for

borrowing money. Unlike simple interest, however, discount interest

is paid on the date the loan is made. Whereas simple interest is paid

on the maturity date, when it is added to the principal of the loan

that was applied for on the origin date, discount interest is paid in

advance, and is taken from the amount of the loan that was applied

for on the origin date.

For example, if ₱4, 000 is borrowed at 16% simple interest rate for 1 year, the
simple interest Is = ( 4, 000) (0.16) ( 1 )= ₱640 is due on the maturity date, and is added
to ₱4,000 to account for a maturity value of ₱4, 640. So, the borrower receives ₱4, 000
on the origin date and he will pay ₱4, 640 on the maturity date.

Thus, under a discount interest agreement, the loan applied for on origin date
would be the amount due on the maturity date. The actual amount received by the
borrower on the origin date is the difference between the amount due on the
maturity date and the discount interest.

Discount interest Id depends on three factors:

the maturity value F of the loan, which is also the loan

amount applied for on the origin date;

the discount interest rate d, which is expressed in

percent, and is to be computed on F; and
 94

the term of the loan t, expressed in years, which is the

time between the origin and maturity dates.

The formula for discount interest Id is given by Id = Fdt

The actual amount received by the borrower on the origin date is called the loan
proceeds Lp . Under a discount interest arrangement, the lent amount of money
received by a borrower is sometimes called the present value but this is not the same
as P in the simple interest formulas, hence, the use of the symbol Lp. Thus,

Lp = F - I d or Id = F - Lp.

Replacing Id by Fdt gives Lp = F - Fdt

And then factor F, we obtain Lp = F ( 1 - dt ).

The discount interest Id ( also known as simple dsicount) is often referred to as

interest charged in advance, which is why a discount interest rate is also called
interest rate in advance. Other related formulas are:

F = Id / dt or F = Lp / ( 1 - dt )

D = Id / Ft or d = (F - Lp) / Ft

T = Id / Fd or t = ( F - Lp ) / Fd

It would help to bear in mind that the discount interest rate d is computed on a
given maturity value F, whereas simple interest rate r is computed on a given
principal P.
 95

In problems involving discount interest rates, t should be taken as actual number

of days divided by 360 ( Banker’s Rule) when given the origin and maturity dates.

Exampl 1: Lito borrows ₱10, 000 from the Social Security System for a term of 1
year. The interest charged is 9 % discount interest. Determine the
discount interest and the proceeds of the Loan that Lito signs.

Solution:

Given: F = ₱10, 000 d = 0.09 t = 1 year

Find Id and Lp.

The discount interest is Id = Fdt = (10, 000) (0.09) ( 1 ) = ₱900

The ₱900 interest is to be deducted in advance from the loan amount. Hence,
the proceeds is

Lp = F - Id = 10, 000 - 900 = ₱9, 100

or Lp = F ( 1 - dt) = 10, 000 [ 1 - (0.09) ( 1)] = ₱9, 100

This means that Lito receives ₱9, 100 on the origin date and he will pay
₱10,000 on the maturity date.
 96

Activity 5

Solve the following Problems.

1. The proceeds of a 2 - year loan Martha obtained at a bank was ₱22, 500. If
the discount interest rate was 12.5% how much is the maturity value of
the loan?

2. Find the discount interest if F = ₱ 5, 000. d = 0.09 and t = 9 months.

3. Find the discount interest and the proceeds of ₱40, 000 due at the end of 8
months id the discount interest rate is 10.5%.

In problems 4 - 6, find the proceeds of these 2-year loans that are

discounted at the given corresponding rates.

Loan ( F ) Discount Interest Rate ( d )

4. ₱ 22, 500 6%

5. ₱45, 000 7.25%

6. ₱53, 750 8.5%

 97

Learning Outcomes

At the end of the lesson the students should be able to do the following:

 Identify the types of promissory notes;

 Obtain the maturity value, bank discount and proceed when the
note was discounted; and

 Calculate the simple interest equivalent to bank discount rate by

using the formula.
 98

Promissory Notes

A promissory note, sometimes simply referred to as a

note, is a commitment to pay back on a future date a sum of money

that was borrowed. The person, company, or institution that has

borrowed the money, and is bound by the note to pay the money

back is called the maker; while the person, company, or institution

that lent the money is called the payee. Once a note is executed, and

money is lent to the maker, the payee receives the note, and from

then on owns it until it is redeemed by the maker.

Simple Interest Note

One type of promissory note is the simple interest

note which bears the following information aside from
the maker and the payee:

a. the origin date, which is the calendar date on

which the maker receives the money lent by
the payee;

b. the term of the note, stated oftentimes as a

definite number of days or months, which is
the time between the origin date and the
maturity date;
 99

c. the face value, which corresponds to principal,

and is the amount of money lent, and given
by the payee to the maker on the origin date;
and

d. the simple interest rate, which is charged by the

payee.

Moreover, promissory Note-a formal written document which contains an

unconditional promise to pay a sum certain in money at a determinable future time,
made by a maker to a payee.

- a promissory note is a negotiable instrument

- may either be interest bearing or non-interest bearing

Parties in a Promissory Note

a. Maker-the party who made the promissory note and eventually signs on it.
- the party who makes or issues a promise to pay the agreed amount at a
specified future date.
- the debtor in the transaction.
- from the point of view of the maker, the promissory note is a LIABILITY
(NOTESPAYABLE)

b. Payee- the person or business to whom the promise of future payment

was made.
- the party who receives the promissory note.
- the creditor in the transaction

- from the point of view of the payee, the promissory note is an ASSET
(NOTESRECEIVABLE)

Elements of a Promissory Note

a. Principal-the amount of money owed or borrowed by the maker.

b. Interest Rate- percentage rate that is multiplied to the principal and the
term of the note to arrive at the interest for the period.
c. Interest Period or Term of the Note- the period of time during which
interest is to be computed (from date of issuance to maturity date of
promissory note)
 100

d. Interest- represents an opportunity cost. An income of the payee and an

expense of the maker.
e. Maturity Date- the date on which final payment of the promissory note is
due.
f. Maturity Value- the amount that the payee expects to receive and the
amount that the maker expects to pay on maturity date.
- maturity value is the sum of the PRINCIPAL and INTEREST(if
promissory note is interest-bearing)

Common Transactions Involving Promissory Notes

a. Promissory note received for services rendered.

Notes Receivable
Service Income
Received note for services rendered

b. Promissory note received for money lent.

Notes Receivable
Cash
Received note for money lent

c. Promissory note received to extend a customer’s account.

Notes Receivable
Accounts Receivable
Received note to extend payment of customer’s account

d. Collection of non-interest bearing note on maturity date

Cash
Notes Receivable

Collected promissory note on maturity date.

e. Collection of an interest bearing note on maturity date

Cash
Notes Receivable
Interest Income
Collected promissory note on
maturity date.
 101

Type of Promissory Notes

Interest Bearing Note Non- Interest Bearing Note

The rate of interest is stated on the note The rate of interest is not stated on the
and is usually simple interest rate. note.

The main features of a note usually include the:

• Face Value/Principal amount - the amount stated on the note

• Interest rate if any

• The date - the date on which the note is made

• Terms or repayment - the length of time until the note is due for payment

• Maturity date - the date on which the maturity value is due

• Payee - the person to whom the payment is to be made

• Maker - the person that signs the note

PROMISSORY NOTE

Example of an Interest Bearing Note:

 102

PROMISSORY NOTE

Example of a Non-Interest Bearing Note:

Example:

Solution:

• Face Value/Principal amount: RM10, 000

• Interest rate : 5%

• The date : 2 October 2017

• Terms or repayment : 6 months

• Maturity date : 2 April 2018

• Payee : C.K. Company

• Maker : Good Wealth Inc.

 103

Maturity Value

What is maturity value?

- The total sum of money which the payee will receive on the maturity date.

Formula Maturity Value

Interest bearing notes:

Maturity value, S = Face value + Interest

=P+I

= P + Prt

= P(1+rt)

Non-Interest bearing notes:

Maturity value, S = Face value

=P

Example:

Peter has two different notes and both have a face value of ₱5,000 for
60 days. The first note has a simple interest rate of 8%, while the second
note has a discount rate of 7%. What is the maturity value for each note?
 104

Solution:

S1 = P ( 1 + rt )

= ₱ 5000 {1 + (0.08) (60/360)}

= ₱5,066.67 ( interest bearing note)

S2 = P

= ₱ 5,000 (non-interest bearing note)

Bank Discount & Discounting Notes

What is bank discount?

 The interest charge from a bank for a short term loans.

 Bank discount computed based on the maturity value (final amount)

What is discounting notes?

 Selling the notes to the bank before its maturity date

Why discounting notes?

 The holder needs a cash before its maturity date.

 105

Formula Bank Discount

D = Sdt

where

S - the simple amount/maturity value

d -discount rate (%)

t - term of discount in years

Proceed

If the note was discounted:

 the date of the note is discounting date

 the amount received on the date of discounting is called the proceeds.

 The terms of discount starting from the note was discounted until the
maturity date.

Proceeds = Maturity Value – Bank Discount

=S–D

= S – Sdt

= S(1-dt)
 106

Example:

On 2 April 2016, Sharifah borrowed an amount of ₱8000 at 2% interest rate for

three months. The discount rate charged by the lender is 10%. Find the bank discount
if the note was discounted on 2 May 2012.

SOLUTION:

Date: April 2, 2012

Term of note: 3 months

Maturity Date: April 2, 2012 + 3 months = July 2, 2012

Term of discount: May 2, 2012 until July 2, 2012 = 2 months

By using the formula,

S = P ( 1 + rt )

= ₱8, 000 [ 1 + 0.02 (3/120 ]

= ₱8, 040

D = Sdt

= (₱8, 040) ( 0.1 ) ( 2/12)

= ₱134
 107

Simple Interest Equivalent to Bank Discount

An interest rate, r% and discount rate d% are said to be equivalent if the two rates
give the same present value for an amount due in the future.

Thus,

Calculate d% given that r%

Calculate r% given d %

Example:

A note of ₱4,000 will due in six months. A bank discount rate of 12% is
applied to this note. Find the equivalent simple interest rate that is charged by
the bank.

Solution:
 108

Activity 6

Solve the following problems.

1. A promissory note dated 23 October 2015 reads ‘Seven months from date, I
promise to pay ₱4,000 with interest at 6% per annum’. Find

(i) the maturity date

(ii) (ii) the maturity value

2. The maturity value for 90 days promissory note is RM450 that bears interest at 8%
per annum. What is the face value for this interest bearing note?

3. If Tong will receive ₱4,000, 30 days before its maturity date, calculate the
amount of maturity value at 12% bank discount?

4. What discount rate should a lender charge to earn an interest rate of 20% on a 9
months loan?

5. Ben Cruz holds a ₱7, 500, 120 - day, 15% simple interest note made out by Mike
Tan. The note was made on August 17, 2010. On September 14, 2010 Bent
encashes the note at a bank at a 16% discount rate. How much does Ben receive
from the bank on September 14, 2010?
 109

I. Give the meaning of the acronyms below. Write your answer in your

notebooks/ journal.

1. SI = _____________ 4. P = ________________

2. F = ______________ 5. Is = _______________

3. Id = _____________

II. Multiple Choice. Write the letter of you choice in your notebook/journal.

1. Find the Principal when S.I. = 192 , Rate = 6% per annum, Time = 4 years

a. 800 b. 600 c. 500 d. 400

2. Find the Principal when S.I. = 20 , Rate = 2% per annum, Time = 20 month

a. 800 b. 600 c. 500 d. 400

3. Find the Rate when Principal = 350, Time = 2¹/₂ years, S.I. = 140

a. 5% b. 3% c. 20% d. 16%

4. Find the Rate when Principal = 9600, Time = 3 months, S.I = 72

a. 5% b. 3% c. 20% d. 16%

5. Supposed Teacher A borrowed Php. 10, 000 from a certain lending institution
to pay her daughter’s tuition fee with 2% interest rate per month for 2
months. How much is the simple interest for 2 months?

a. ₱ 3, 000 b. ₱500 c. ₱ 400 d. ₱200

 110

6. Supposed Mrs. Piedad borrowed Php. 40, 000 from lending institution to
invest for her Food and Beverage Services project at an interest of 2.5% a
month for 3 months.

a. ₱ 3, 000 b. ₱500 c. ₱ 400 d. ₱200

7. What is the term of the loan whose proceeds and maturity value are ₱67, 820
and ₱80, 000, respectively, at a simple discount rate of 8.7%

a. 1.75 years b. 2 years c. 4 years d. 2.5 years

8. On March 10, 2019, Marge made a simple interest note for ₱ 37, 500
with a promise to pay Lina after 180 days at 6.5% interest. Lina had note
discounted at a bank on August 4, 2019 at 9 %. Find the proceeds.

a. ₱35,600 b.₱37, 399.32 c.₱38, 399.32 d.₱35,399.12

9. Mat Evans holds a ₱4,000 simple interest note at 12.75% interest, payable in a
year. In need of cash, Mat sells it to a bank 4 months after it was issued to
him. How much will the bank pay him if he is charged 15% interest to be
drawn in advance?

a.₱4, 059 b. ₱8, 651. 03 c. ₱12, 722.46 d.₱7, 561.03

10. Johnloyd receives a 60 - day, ₱6, 200 bank discount note on September 4, 2019.
How much will he receive if it is discounted at 9% fifteen days later?

a.₱ 5, 130.25 b. ₱8, 130.25 d. ₱7, 130. 25 d. ₱6, 130.25

 111

III. Find the proceeds on the blank discount notes, given the data in problems 1-5.

Maturity Value Maturity Date Date of Discount Discount Rate

1. ₱30,000 Nov. 25, 2011 July 3, 2011 10.2%

2. ₱23, 200 May 16, 2011 Dec. 14, 2010 12%

3. ₱4, 000 Sept. 9, 2011 Feb. 19, 2011 9.75%

4. ₱6, 600 June 5, 2011 Jan. 11, 2011 8%

5. ₱12, 000 April 16, 2011 Oct. 25, 2010 12.6%

IV. From each of the simple interest notes 1-2 below , give the

A. Payee F. Term of the note

B. Maker G. Maturity Date

C. Face Value H. Interest

D. Simple Interest rate I. Maturity Value

E. Origin Date

1.) ₱35, 000 Dagupan Pangasinan January 14, 2019

Eighty Days after the above date, the undersigned promises to

pay the order of Lingayen Cannery Thirty-Five Thousand Pesos with
interest at 7% per annum.

(Sgd) Ouema Rex

2.) ₱600, 000 Puerto Princessa, Palawan October 30, 2010

I, Ellis Roman, promise to pay Sonoma Pearl Farms Six Hundred

Thousand Pesos with interest at 13% per annum Three Months after the
above date.

(Sgd) Ellis Roman

 112

Mathematical Journal

Simple Interest and discount interest are familiar terms. People frequently use
these when lending money. Suppose you are tasked to explain this to your
seatmate, what would you say? Put this in writing on your journal.

List down on your journal/notebook 3 things you have learned from each
lessons.
 113

References

Hart, W. (1924).The Mathematics of Investment. D.C. Heath&Co.

Kellison, S. (2008). Theory of Interest. McGraw-Hill.

Ong, Anicita C. & Gabriel, Presentacion B. (2011). Elemets of Investment

Mathematics

Paler - Calmorin, Laurentena, Malubay, Helen A, & Peler- Deloso, Marylilibeth

(2012). Mathematics of Investment with Computer Application

Shao ,P & Shao, S. (1997). Mathematics of Management and Finance. CENGAGE

Learning

http://intranet.siyaram.com/writereaddata/interest.pdf

http://www.maths.nuigalway.ie/cstudents/MA111/lect4.pdf

http://www.digiovinehost.com/itcgcalamandrei/spazio_docenti/ragazzoni/clil/econo
mia%20aziendale/interest-discount/discount.htm
 114

Lesson 7
Compound
Interest

Learning Outcomes

At the end of the lesson the students should be able to do the following:

 Define and discuss compound interest; and

 Calculate the compound amount by using the compound interest

formula.
 115

Compound Interest

Consider an investment whose time frame is divided into

equal intervals. If an interest is computed after an interval and

is being added to the principal and thereafter earns an interest,

then the difference between the original principal and the total

amount after the whole time frame is called compound interest.

The compound amount or the accumulated value of the

principal is the sum of the principal and the compound interest.

In this situation, we see that the interest is being converted into a principal and thus
we use the phrase “interest is compounded” or “interest is converted”.

Consider an investment amount place on a financial

institution that gives a compound interest where the

interest rate per conversion period is i . After one conversion,

the total amount due to the investor is P + Pi . The new

principal at the end of the first conversion is now

P + Pi = P ( 1 + i ). At the end of the second period,

the accumulated value now becomes, P + Pi + ( P + Pi )i

which is equivalent to P + Pi +Pi + Pi2 = P ( 1 + i )2. Thus,

the new principal after the second conversion is P ( 1 + i)2.

In a similar manner, at the end of the third period

or third conversion, the accumulated value becomes P ( 1 + i )2 +P ( 1 + i )2 i = P ( 1 +

i )2 (1+i )2 = P ( 1 + i )3. Now, following the patterns that we see, after the nth
conversion, the accumulated value becomes P ( 1 + i )n . Thus we have the following
formula:
 116

In the context of compound interest, the interest rate per annum or per year is
called the nominal rate of interest. Thus when a given nominal rate is said to be
compounded quarterly, that means in a given year there will be 4 conversions.
Similarly, when we say compounded monthly, the conversions are made every
month therefore in a given year, there will be 12 conversions.

Example:

1.
 117

2.

3. Find the present value of Php 2,850 due in 5 years if money is worth
10% compounded quarterly.

Solution

Given: F = 2, 850 ; j = 10% ; t=5; m=4

4. How much must be invested today in a savings account to realize Php

9,000 in 4 years, if money earns at the rate of 4% compounded
quarterly?
 118

5. What rate compounded annually will double any amount principal if it

is invested in 6 years?

6. What nominal rate converted semi-annually will make Php 20,000

amount to Php 50,000 in 8.5 years?

Solution

7. When will Php 30,000 earn interest of Php 15,000 if it is invested at the
rate of 7.5% converted annually?
 119

8. When will a principal double itself if the interest rate is 14%

compounded quarterly?

Sometimes we may want to compare which interest rate would provide a higher
interest when their interest payments are not the same. We then have to resort to
converting these interest rates to a common interest payment. This is the notion of
effective rates of interest. For instance, which interest rate gives a higher interest for
an investment of 1 Peso (Php1), an 8% compounded semi-annually or a 7.9%
compounded monthly. If 1 peso is invested at a rate of 8% compounded semi-annually,
then at the end of the year it accumulated to S = 1 (1 + (0.08/2))2 =1.0816. While an
investment of 1 peso at a rate of 7.9% compounded monthly accumulates to S = 1 (1
(0.08/2))12 = 1.082999507.

The effective rate of interest of compounded times a year can be computed as

r = ( 1 + i )m - 1

Example:
Determine the effective rate of interest for each of the following nominal interest
rate compounded times a year.
 120

Present Value at Compound Interest

The present value of an amount F due in n interest periods is the value P, which
when invested now at a given rate will accumulate to F at the end of n periods. From
the compound amount formula F = P ( 1 + i )n, we solve for the present value P as
follows:

P = F / (1 + i )n or P = F ( 1 + i )-n

The value of ( 1 + i )-n can also be obtained using scientific calculator.

“ To discount an amount F due in n interest periods” means to find its present

value P at n periods before F is due. The factor ( 1 + i )-n is called the discount factor.

Example 1.: Find the present value of ₱5,000 due in 8 years if money is worth
12% compounded semiannually.

Solution:

Given: F = ₱5, 000 t = 8 years

j = 12% = 0.12, m=2 n = tm = (8) ( 2) = 16

periods

i = j/m = 0.12/ 2 = 0.06

Find P.

Formula: P = F ( 1 + i )-n

P = 5, 000 ( 1 + 0.06 )-16

= 5, 000 ( 0.39364628371)

= ₱1, 968.23
 121

The value of ( 1 + 0.06 )-16 is obtained by using scientific calculator.

Example 2.: A piece of property is purchased on installment basis. The buyer

makes a down payment of ₱100, 000 and owes a balance of
₱350, 000 to be paid in 2 years. Find the cash value of the
property if money is worth 14% compounded quarterly.

Solution:

Cash Value = down payment ( if any) + present value of the

installment payment

Given : Down payment = ₱100, 000

Installment payment = ₱ 350, 000 due in 2 years

F = ₱350, 000 t = 2 years

J = 14% = 0.14, m = 4 n = tm = (2) (4) = 8 periods

i = j/m = 0.14/ 4 = 0.035

Find Cash value

The present value of the installment payment is computed is computed as:

P = F ( 1 + i )-n

= 350, 000 ( 1 + 0.035)-8

= 350, 000 ( 0.75941155621)

= ₱265, 794. 044676

Cash value = down payment + P

= 100,000 + 265, 794.044676

= ₱365, 794.04
 122

Finding the Time

In formula F = P ( 1 + i )n, if F, P, and i are given, the value of n can be

determined by using logarithms. Once n is obtained, we can solve for the time t
from the formula t = n/m. This is illustrated in the following example.

Example: How long will it take ₱25, 000 to amount to ₱58, 000 if it is
invested at 12% compounded quarterly?

Solution:

Given: P = ₱25, 000 j = 0.12, m=4

F = ₱58, 000 i = 0.12/4 = 0.03

Find t.

Formula: F = P ( 1 + i )n

58, 000 = 25, 000 ( 1 + 0.03)n

(1 + 0.03)n = 2.32

Taking the logarithm of both sides, we get

log ( 1 + 0. 03)n = log 2.32

n log 1.03 = log 2.32 by a property of logarithm

n = log 2.32 / log 1.03

n = 0.36548798489/0.0128372247

n = 28. 4709501691

From n = tm, we get t = n/m.

Therefore, t = 28.4709501691/ 4 = 7.12 years.

 123

Activity 1

Problem Solving. Solve the following problems.

Write your answer in your journal.notebook in
mathematics.

In Problem 1 -3, find the compound amount and the interest if

₱4, 000 is invested for 2 years at the rate of 10% compounded.

1. ) annually 3.) quarterly

2.) semiannually

4.) On November 8, 2008, Anna deposited ₱25, 000 in a fund earning

interest at 6.5% compounded semiannually. How much money
will she have in the fund on May 8, 2015?

5.) Find the present value of ₱6, 800 due in 5 years if money is worth

a.) 12% compounded annually

b.) 12 % compounded semiannually

c.) 12% compounded monthly

6.) Find the present value of ₱10, 400 due in 3 years and 8 months if
money is worth 10% compounded semiannually.

7. ) At what nominal rate compounded semiannually will ₱15, 000

accumulate to ₱37, 500 in 10 years?

8. ) How long will it take ₱5, 000 to accumulate to ₱20, 000 at 12%
compounded semiannually?
 124

Lesson 8:
Equivalent
Rates

Learning Outcomes

At the end of the lesson the students should be able to do the following:

 Define equivalent rate

 Calculate the annual equivalent rate and compound interest

 125

Equivalent Rates

Two annual rates of interest with different conversion periods are said to be
equivalent if a given principal produces the same amount at each

of these rates for the same period of time.

For instance, in 1 year, the amount of ₱1, 000 invested at

a) 12% compounded semiannually is ₱1, 000 ( 1 + 0.06)2 = ₱ 1, 123.60

b) 12.36% compounded annually is ₱1, 000 ( 1 + 0.1236) =₱1,

123.60

Hence, 12% compounded semiannually is

equivalent to 12. 36% compounded annually since
their amounts after 1 year after are the same. In
fact, these two interest rats will also give the same
amount after any number of years.

If interest is compounded more than once a

year, the given rate is called a nominal rate. We
define the effective rate as that rate which, when
compounded annually, is equivalent to the
nominal rate j compounded m times a year. In the
given example, 12% is a nominal rate while
12.36% is the equivalent effective rate.

We shall now derive an equation relating nominal rate and effective rate. Let
us be the effective rate and j be the nominal rate compounded m times a year.
For these two interest rates to be equivalent, a principal P invested at each rate
must yield the same amount at the end of 1 year ( or at the end of any number of
 126

years). Using the formula F = P ( 1 + i )n , the amount p at the effective rate u at

the end of 1 year is

F1 = P ( 1 + u/1 )1(1) = P ( 1 + u )

and the amount of P at the nominal rate j compounded m times a year at the end
of 1 year is

F2 = P ( 1 + j/m ) 1(m) = P ( 1 + j/m)m .

For the two rates u and j to be equivalent, their amounts must be equal.
Thus,

F1 = F2

P ( 1 + u ) = P ( 1 + j/m ) m

( 1 + u ) = ( 1 + j/m)m

Solving for u in equation 1, we get

u = ( 1 + j/m)m - 1

( 1 + u ) 1/m - 1 = j/m

If a nominal rate j is compounded annually, then u = j. Thus the statement

“ the effective rate of interest is 9%” or “ the interest rate is 9% effective”
means that the interest rate is 9% compounded annually.
 127

Example 1: Find the effective rate that is equivalent to 15.55 compounded quarterly.

Solution:

Given: j = 0.155 m=4

Find u.

Formula: u = ( 1 + j/m )m - 1

u = ( 1 + 0.155/4 )4 -1

= 1.16424437188 - 1

= 0.16424437188

= 16.42%

Thus, investing at 16.42% compounded annually is equivalent to

investing at 15.5% compounded quarterly.

Example 2: What nominal rate compounded semiannually is equivalent to

8% effective rate?

Solution:

Given: u = 0.08 m=2

Find j,

Formula: j = m [(1 + u) 1/m -1 ]

 128

j = 2 [ ( 1 + 0.08) 1/2 - 1]

= 2[1.03923048454 - 1]

= 2[0.03923048454 ]

= 0.07846096908

= 7.85%

Thus, investing at 8% compounded annually is equivalent to investing at

7.85% compounded semiannually.

Activity 2

Problem Solving. Solve the following problems.

Write your answer in your journal.notebook in
mathematics.

1. Find the effective rate that is equivalent to 12% compounded

a) Annually

b) Semiannually

c) Quarterly

d) Monthly

2. Find the rate compounded semiannually that is equivalent to 15%

compounded monthly.
 129

3. What nominal rate converted semiannually is equivalent to 6.5% effective

rate?

4. What rate converted quarterly is equivalent to 12% converted

semiannually?

5. Find the simple interest rate that is equivalent to 9% compounded

quarterly in 6 - year term of investment.
 130

I. Multiple Choice. Write the letter of you choice in your

notebook/journal.

1) Brenda invests $4,848 in a savings account with a fixed

annual interest rate of 5% compounded 2 times per year.
What will the account balance be after 6 years?

A. $6,520.02 B. $ 5.620 C. $ 6, 562.50

2) Lea invests $8,333 in a savings account with a fixed annual interest rate of
8% compounded 2 times per year. What will the account balance be after
12 years?

A. $ 23, 621 .02 B. $ 26, 260. 10 C. $21,360.01

3) Jasmine invests $2,658 in a retirement account with a fixed annual interest

rate of 9% compounded continuously. What will the account balance be
after 15 years?

A. $10,253.04 B. $ 20,532.05 C. $ 15, 352.04

4) Maria invests $6,154 in a savings account with a fixed annual interest rate
of 8% compounded continuously. What will the account balance be after
10 years?

A. $ 16, 395. 98 B. $13,695.98 C. $ 15, 659. 98

5) Ryan invests a sum of money in a savings account with a fixed annual

interest rate of 4.31% compounded 12 times per year. After 10 years, the
balance reaches $12,855.94. What was the amount of the initial
investment?
 131

A. $8,361 B. $ 3,861 C. $ 6, 381

6) Ndiba invests a sum of money in a savings account with a fixed annual

interest rate of 4.61% compounded 3 times per year. After 6 years, the
balance reaches $5,485.85. What was the amount of the initial
investment?

A. $ 1, 496 B. $ 6, 914 C. $4,169

7) John invests a sum of money in a retirement account with a fixed annual

interest rate of 2.63% compounded continuously. After 15 years, the
balance reaches $1,912.41. What was the amount of the initial
investment?

A. $1, 289 B. $ 2, 189 C. $ 8, 129

8) Anjali invests a sum of money in a retirement account with a fixed annual

interest rate of 6.79% compounded continuously. After 20 years, the
balance reaches $14,037.16. What was the amount of the initial
investment?

A. $ 6, 210 B. $3,610 C. $ 1, 310

9) Adam invests $6,139 in a retirement account with a fixed annual interest

rate compounded continuously. After 17 years, the balance reaches
$8,624.97. What is the interest rate of the account?

A. 2% B. 5% C. 6%

10) Huong invests $8,589 in a retirement account with a fixed annual interest
rate of 7% compounded continuously. How long will it take for the account
balance to reach $21,337.85?

A. 10 years B.13 years C. 5 years

 132

Mathematical Journal

Explain the importance of knowing how to compute the compound interest.

List down on your journal/notebook 3 things you have learn from each
lessons.
 133

References

Hart, W. (1924).The Mathematics of Investment. D.C. Heath&Co.

Kellison, S. (2008). Theory of Interest. McGraw-Hill.

Ong, Anicita C. & Gabriel, Presentacion B. (2011). Elemets of Investment

Mathematics

Paler - Calmorin, Laurentena, Malubay, Helen A, & Peler- Deloso, Marylilibeth

(2012). Mathematics of Investment with Computer Application

Shao ,P & Shao, S. (1997). Mathematics of Management and Finance. CENGAGE

Learning

http://intranet.siyaram.com/writereaddata/interest.pdf

http://www.maths.nuigalway.ie/cstudents/MA111/lect4.pdf

http://www.digiovinehost.com/itcgcalamandrei/spazio_docenti/ragazzoni/clil/econo
mia%20aziendale/interest-discount/discount.htm