F1 - Numerical Calculations Flashcards
1
Q
Interest
A
The amount of money earned on savings or the amount of money added to a loan
2
Q
BIDMAS
A
Brackets Indices Division Multiplication Addition Subtraction
3
Q
Cash flow
A
Cash flow is a measure of cash coming in and cash going out. It can be applied to businesses or personal finance to determine if you’re living within your means
4
Q
Error (rounding)
A
The error is the maximum value an amount can differ from a calculated value
5
Q
Lower bound
A
The minimum value of a rounded amount
6
Q
Upper bound
A
The maximum value of a rounded amount
7
Q
Truncate
A
Means to chip off without rounding.
E.g. 2.47 becomes 2.4
