Income
Money earned for completing a task.
What is income?
Money paid for the privilege of someone lending you money.
What is interest?
Find a common factor of the numerator and the denominator.
How do you simplify fractions?
Per annum (yearly).
What does P.A. mean?
Any fraction with a denominator of 100.
What is a percentage?
How much you get paid per hour.
What is an hourly rate?
When items loose their value over time.
What is depreciation?
Don't touch the denominators, and add or subtract the numerators from each other.
How do you add or subtract fractions with the same denominators?
This pay is before tax is taken out, and has no deductions pathway.
What is gross pay?
To calculate the whole amount of something, divide the the number by the given percentage to find one percent, then multiply it by 100 to find 100%.
What is the unitary method?
Money paid for work done on an hourly basis.
What is a wage?
One is interest paid on the original principal only whereas the other is interest paid on the original principal as well as interest earned at the end of each investment period.
What is the difference between compound and simple interest?
Make the denominators a common number (by multiplying the numerators and denominators by the same number) and then add or subtract the numerators.
How do you add or subtract fractions with different denominators?
This pay has a deductions pathway, and it what is put in your bank after deductions and tax.
What is net pay?
Divide by 100 and multiply by 100.
How do you change a percentage to a decimal/fraction, and a decimal/fraction to a percentage?
A set amount of money paid over a yearly basis.
What is a salary?
SI = PRN
A = P(1 + R)N
P = Principal R = Interest Rate
N = Number of Periods A = Amount Earnt
S = Simple Interest
What are the simple interest and compound interest formulas?
Multiply the numerators by each other and the denominators by each other.
How do you multiply fractions?
This is money paid to the government to support public facilities such as schools, roads, and hospitals. The idea behind it is that the more you earn, the more you pay to it.
What is tax and what is the idea behind it?
Find the percentage of the amount and add it to the original amount, alternatively, you can add the percentage to 100% and find this percentage of the original amount.
How do you increase a percentage?
Being paid 17.5% more than usual pay for four weeks a year.
How much holiday pay is allocated each year and how long is it for?
D = P(1 - R)N
D = Depreciated Amount P = Principal
R = Depreciated Percentage
N = Number of Periods
What is the depreciation formula?
Leave the first fraction as it is, turn the divide sign into a multiply sign, flip the 2nd fraction so that the numerator becomes the denominator and vice versa, and finally, multiply the new numerators and denominators
How do you divide fractions?
Anything that helps you do your job. These are work-related expenses that relate directly to your income.
What are deductions?
Find the percentage of the amount and subtract it from the original percentage, alternatively to this, subtract the percentage from 100% and find the original percentage.
How do you decrease a percentage?