Finance
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Quick Reference
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Interest earned on an investment, or due on a loan, is usually compounded. On occasions, interest is compounded continuously, which has the effect of increasing the amount of interest.
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An indicial equation is one in which the power is unknown. Such equations often occur in the calculation of compound interest.
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Interest rate calculations arise in a variety of business applications, and affect all of us in our personal and professional lives. Individuals earn interest on sums they have invested in savings accounts. Many home owners pay interest on money they have borrowed for mortgages, personal loans, etc. This leaflet revises interest and its calculation.
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The use of percentages is common in many aspects of commercial life. Interest rates, discounts, pay rises and so on, are all expressed using percentages. This leaflet revises the meaning of the term 'percentage', and shows how to calculate percentages, and how to convert expressions involving percentages into alternative forms.
