Business
What do you call a french business man?
Entrepenuer
What does the I stand for?
Interest
What does the A mean?
Amortization
What does the % mean?
per cent
or
out of one hundred
What is the costs required before you begin a business? For example, a business license, costs of permanent equipment...
Start up Costs
What does the P stand for?
Principle
What does the n mean?
Number of compounding periods.
Xy
raised to the exponential power
What are the ongoing costs called needed to run a business? Such as rent, gas, bills, possible employee salaries...
Operating Costs
What does the r stand for?
Rate
What is the formula?
A = P(1 + r/n)nt
per annum
a year
Sole Proprietorship
Small Business
Name another....
Corporate
The loan term, this time is reflected as per annum
What does the t stand for?
Exponentially increased
In Canada, business operators must submit taxes to whom?
Revenue Canada
Solve using the simple Interest formula.
If you have received a $2 000 loan at 5% interest for 2 years. How much interest will you have paid by the end of your term?
$200
List the different compounding periods.
Annually
Semi-annually
Quarterly
Monthly
75
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