If you take an algebra class it will also help you semi-prepare for your GMAT studying (if you haven't taken them already). I actually had this discussion with a couple people and the outcome was varied. On one hand, one would think that you would want to take the harder class to show proficiency. Keep in mind... if they really wanted to see how well you were at Calculus... they would have put that on the GMAT. With that being said... I had one consultant tell me that the Algebra class that I took would suffice. I'm still not sure how I feel about this. I'm in a position where my undergraduate degree was in Economics, and I did fairly well in all on my quant classes, so the Algebra class, that I took to prepare for my GMAT class, may not have an impact.
My gut is telling me that you should take the Calculus class since you have a social sciences background. I don't think I helped you at all, as I'm sure you were looking for a concrete answer but I'll leave you with two things:
1. Whichever class you take... MAKE SURE YOU GET AN A! When I took my algebra class the grade was only based on the Final... so naturally I was slightly nervous. I was thinking "what if I make stupid mistakes and get a B".. how would THAT look on my transcript? Fortunately I did get an A.
2. maybe you should pose this question to one of the consultants in the other forum... they may be able to offer you more insight.