COMPUTER SYSTEM FOR SOLVING PROBLEM IN BUSINESS MATHEMATICS (WITH EMPHASIS ON INVESTMENT APPRASIAL)

Diploma

ABSTRACT

A novel approach is proposed as a framework for working out uncertainties associated with decisions between the choices of leasing and procurement of capital assets in a manufacturing industry. The business mathematical concept of the tool is discussed while the technique adopted is much simpler to implement and initialize. The codes were developed in VB.NET programming language, test-run and executed on a computer system running on Windows operating system. This was done in order to solve a model that illustrates a case study in business mathematics. Meanwhile the solution obtained proves to be stable and proffers to suit the growing frenzy for software for similar recurring cases in business. In addition, it speeds up the computational results. The results obtained using the empirical method is compared with the output and adjudged excellent in terms of accuracy and adoption.


INTRODUCTION

This paper is directly geared towards presenting business mathematics as a veritable tool in financial investments of which an average businessman must know the fundamental principles involved in the use of these tools [Chinedu, A. D. and Anumba, J. U. (2012)].  However, the business man ought not only to have the traditional personal qualities expected of a leader and expert in the field, but he must also know the fundamental principles involved in the use of the most modern tools for financial management [Ching, W. and Ng, M. K. (2006)]. Actuarial business mathematics, or rather mathematics of Finance is amongst these tools. This branch of business is certainly not new, but with the proliferation and increased capacity of financial institutions today, it becomes very pertinent that the tools of the trade be advanced to match the growing trend [Cvitanic, J. and Zapatero, F. (2004)]. An organization needs not concern herself with the ways in which a certain model or formula is obtained, but must know as much as possible about the use of them in terms of their adaptability to his problems [Ching, W. and Ng, M. K. (2006)]. Hence an optimum advantage of this tool could be reached, when there are the possibilities of achieving a faster and more accurate solution whenever it is necessary [Peers, S. (2005)]. Secondly, office automation has been in vogue among business communities. Ignorantly the acquisition of computers of all sizes and capacity seem to be used to measure the success of an establishment only. Yet, hardly do they know that computers can be used extensively for solving problems in this field of business. Therefore, it becomes imperative to make a tentative survey of what is essential for an organization to know how to write or use computer programming in solving problems of investment appraisal. Hence, part of this endeavor is to prepare and present a model with computer program package that handles some of the inherent problems. This will in go a long way to make the operations faster, more accurate and more reliable. A business model is a sustainable way of doing business, and sustainability stresses the ambition to survive over time and create a successful, perhaps even profitable, entity in the long run [Nielsen, C. and Lund, M. (2012)].


AIM AND OBJECTIVE OF THE STUDY

The aims of this study is to develop an automated system that will help in the calculations involving investment appraisal in Business mathematics.

Objective:

·         To develop a user friendly application to enable the calculation involving investment appraisal.

·         To provide a platform for easy interaction and problem solving.

·         To encourage computer usability.

·         To develop a system with navigational tools to ease the operations involved.