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Summary Finance, Growth and Decay - Mathematics Grade 12 (IEB) $3.44   Add to cart
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Summary Finance, Growth and Decay - Mathematics Grade 12 (IEB)

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  • Course
  • Mathematics
  • Institution
  • 12

Covers the various sections relating to Finance, Growth and Decay within the Mathematics syllabus. (Paper 1 section) Includes notes from the textbook, as well as addi...

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Document information

  • February 23, 2021
  • 11
  • 2020/2021
  • Summary

Subjects

  • grade 12
  • matric
  • matrix
  • paper 1
  • ieb
  • math
  • finance
  • growth and decay

Written for

  • 12
  • Mathematics
  • 200
All documents for this subject (206)

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Content preview

Financial mathematics
Interest

Simple interest Compound interest
A = P(1 + i x n) A = P(1 + i)n
A – final amount A – final amount
P – initial amount P – initial amount
i – interest rate i – interest rate
n – time period n – time period
Arithmetic sequence Geometric sequence
Linear graph Exponential graph


Depreciation

Simple depreciation
(simple decay or straight line or flat rate)
A = P(1 - i x n)
A – final amount
P – initial amount
i – interest rate
n – time period

Arithmetic sequence
Linear graph



Compound interest
(compound decay or deducing balance)
A = P(1 - i)n
A – final amount
P – initial amount
i – interest rate
n – time period

Geometric sequence
Exponential graph

, Compounding interest
Compounding periods
- Yearly (1 payment per year)
- Semi-annually (2 payments per year)
- Quarterly (4 payments per year)
- Monthly (12 payments per year)
- Weekly (52 payments per year)
- Daily (365 payments per year)
𝑖 (𝑚)
A=P(1+ 𝑚
)m x n

Nominal interest: the rate quoted by the bank (i(m))

Effective interest: the actual amount received (ie)
𝑖 (𝑚) m
1 + ie = (1 + 𝑚
)
(n becomes 1 as we are comparing)


Changing Formulas
Simple:
A = P (1 + i.n)

P = A(1 + i.n)-1
𝐴−𝑃
i=
𝑃𝑛
𝐴−𝑃
n= 𝑃𝑖

Compound:
A = P (1 + i)n

P = A (1 + i)-n
𝐴
i = n√(𝑃) – 1
𝐴
n = log(1+i)
𝑃

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