GENERAL MATH Flashcards
1
Q
amount of money charged by multiplying the principal amount with rate of interest and time
A
SIMPLE INTEREST
2
Q
formula for simple interest?
A
I = PRT
3
Q
prin cipal plus interest
A
MATURITY VALUE
4
Q
face value or present value
A
PRINCIPAL
5
Q
can be days months or years
A
TIME
6
Q
if year goes with year or month goes with month ( the same in short )
A
SIMPLE INTEREST ARE USED
7
Q
if year goes by month or month goes by year ( different in short )
A
COMPOUND INTEREST USED
8
Q
A
9
Q
how many days if ordinary
A
360
10
Q
how many days if exact?
A
365
11
Q
formula for compund
A
A = P(1+R/M)^MT
12
Q
amount taken from principal with interest and interest money is being excluded in computing in the interest of months/ or years
A
COMPUND INTEREST
13
Q
frequency of annualy
A
1
14
Q
frequency of semi annually
A
2
15
Q
frequency of quarterly
A
4
