Chapter 5 Formulas Flashcards
1
Q
How do you find the Total Deposit?
A
(Currency + Coins + Checks) - Cash Recieved
2
Q
How do you find the New Balance?
A
Previous Balance + Interest + Deposits - Withdrawals
3
Q
How do you find the Interest?
A
Principal x Rate x Time
4
Q
How do you find the Amount?
A
Principal + Interest
OR
Original Principal x Amount of $1.00
5
Q
How do you find Compound Interest?
A
Amount - Original Principal
6
Q
How do you find the Total Number of Periods?
A
Periods per Year x Numbers of Years
7
Q
How do you find the Interest Rate per Period?
A
Annual Rate/Number of Periods per Year
8
Q
How do you find the Future Value of Original Annuity?
A
Amount of Deposit x Future Value of $1.00
9
Q
How do you find the Future Value of Annuity Due?
A
Future Value of Original Annuity x ($1.00 + Rate per Period)
