Fractions/Decimals/Percentages
What is 6/10 as a percentage?
60%
Find the final amount when $290 is invested at 9% compound interest per annum for 4 years
290(1+0.09)^4
= $409.35
Find the final amount of a compound interest loan at $400 compounding monthly at 4% for 2 years?
400(1+0.04/12)^24 = $433.26
A car depreciates at 5% p.a. over 5 years, starting at $25000.
What is the principal?
$25000
What is the rate in a compound interest calculation?
the percentage/decimal
What is 0.91 as a percentage?
91%
Find the final amount when $25000 is invested at 1.2% compound interest per month for 2 years.
25000(1+0.012)^2
= $25603.60
Find the final amount of a compound interest loan at $200 compounding monthly at 2% for 3 years?
200(1+0.02/12)^36
A car depreciates at 5% p.a. over 5 years, starting at $25000.
What is the rate?
5%
What is the Principal?
The principal is the initial amount of the loan.
What is 32% as a decimal?
0.32
Find the interest earned on a $200 investment at a compound interest rate of 8% per annum for 2 years.
200(1+0.08)^2 = $233.28 (thats the amount)
233.28 - 200 = $33.28 (interest amount)
$33.28
Find the final amount of a compound interest loan at $150 compounding weekly at 4% for 2 years?
150(1+0.04/52)^104 = $162.40
=$162.40
A car is purchased for $30,000 and depreciates at a rate of 12% per year. What will its value be after 3 years?
30000(1-0.012)^3 = $28932.90
= $28932.90
What is the Interest?
The added money to the loan for each period based on the rate and time.
What is 1.5% as a decimal?
0.015
Find the interest earned on a $400 investment at a compound interest rate of 8.5% per annum for 3 years.
400(1+0.085)^3 = $510.91
510.91 - 400 = $110.91
Find the final amount of a compound interest loan at $562 compounding weekly at 2.3% for 2 years?
562(1+0.023/52)^104 = $588.449
= $588.45
A phone originally costs $900 and depreciates at a rate of 30% per year. What is its value after 2 years?
900(1-0.30)^2 = $441
= $441
What is the final amount?
The final amount is the amount after compound interest calculation is done.
What is 0.56% as a decimal?
0.0056
Find the principal (initial amount) from a final amount of $600, that was compounded annually at 5% for 5 years.
600/(1+0.05)^5 = $470.115
= $470.12
Find the final amount of a compound interest loan at $700 compounding dailly at 2% for 3 years?
700(1+0.02/365)^1095 = $743.28
= $743.28
A laptop originally costs $1000 and depreciates at a rate of 3.4% per year. What is its value after 5 years?
1000(1-0.034)^5 = $841.1735
= $841.17
Why is it important to learn about financial mathematics?
To make sure you don't get ripped off (loans).
To make more money (investments).
To learn more about how money operates in the world.