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Math: Difference between revisions
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= Business Math 1 = | = Business Math 1 = | ||
=== Business Math | === Business Math 1 - Session 1: Interest calculations === | ||
* Interest calcualations | * Interest calcualations | ||
** Simple interest calculation '''[[w:Interest|Interest]] = [[w:Bond_(finance)#Principal|Principal]] * [[w:Interest rate|Interest rate]] * Time ( I = P * R * T )''' ( [[w:fi:Korko]] = Pääoma * Korkoprosentti ) | ** Simple interest calculation '''[[w:Interest|Interest]] = [[w:Bond_(finance)#Principal|Principal]] * [[w:Interest rate|Interest rate]] * Time ( I = P * R * T )''' ( [[w:fi:Korko]] = Pääoma * Korkoprosentti ) | ||
** '''[[w:Compound interest]]''' arises when interest is added to the principal, so that, from that moment on, the interest that has been added also earns interest. This addition of interest to the principal is called ''compounding''. | ** '''[[w:Compound interest]]''' arises when interest is added to the principal, so that, from that moment on, the interest that has been added also earns interest. This addition of interest to the principal is called ''compounding''. | ||
=== Business Math | |||
=== Business Math 1 - Session 2: Indices === | |||
* '''[[w:Index (economics)]]''' - In [[w:economics]] and [[w:finance]], an index is a statistical measure of changes in a representative group of individual data points. ( Wikipedia ) | * '''[[w:Index (economics)]]''' - In [[w:economics]] and [[w:finance]], an index is a statistical measure of changes in a representative group of individual data points. ( Wikipedia ) | ||
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* A '''[[w:cost-of-living index]]''' is a theoretical [[w:price index]] that measures relative [[w:cost of living]] over time or regions. It is an index that measures differences in the price of [[w:good (economics)|goods]] and [[w:service (economics)|service]]s, and allows for substitutions to other items as prices vary. ( Wikipedia ) | * A '''[[w:cost-of-living index]]''' is a theoretical [[w:price index]] that measures relative [[w:cost of living]] over time or regions. It is an index that measures differences in the price of [[w:good (economics)|goods]] and [[w:service (economics)|service]]s, and allows for substitutions to other items as prices vary. ( Wikipedia ) | ||
=== Business Math | === Business Math 1 - Session 3: VAT calculations=== | ||
* '''[[w:Value added tax]] ( VAT )''' ( [[w:fi:Arvonlisävero]] ) | * '''[[w:Value added tax]] ( VAT )''' ( [[w:fi:Arvonlisävero]] ) | ||
* The '''[[w:foreign exchange market]]''' (forex, FX, or currency market) ( [[w:fi:Valuuttamarkkinat]] ) is a form of exchange for the global decentralized trading of international currencies. ( Wikipedia ) | * The '''[[w:foreign exchange market]]''' (forex, FX, or currency market) ( [[w:fi:Valuuttamarkkinat]] ) is a form of exchange for the global decentralized trading of international currencies. ( Wikipedia ) | ||
* The '''Current rate''' and the '''[[w:forward exchange rate]]''' (also referred to as '''forward rate''' or '''forward price''') is the [[W:exchange rate]] at which a [[W:commercial bank|bank]] agrees to exchange one [[w:currency]] for another at a future date when it enters into a [[w:forward contract]] with an investor. [[w:Multinational corporation]]s, banks, and other [[w:financial institution]]s enter into forward contracts to take advantage of the forward rate for '''[[w:hedge (finance)|hedging]] purposes'''. ( Wikipedia ) | * The '''Current rate''' and the '''[[w:forward exchange rate]]''' (also referred to as '''forward rate''' or '''forward price''') is the [[W:exchange rate]] at which a [[W:commercial bank|bank]] agrees to exchange one [[w:currency]] for another at a future date when it enters into a [[w:forward contract]] with an investor. [[w:Multinational corporation]]s, banks, and other [[w:financial institution]]s enter into forward contracts to take advantage of the forward rate for '''[[w:hedge (finance)|hedging]] purposes'''. ( Wikipedia ) | ||
=== Business Math | === Business Math 1 - Session 4: Compound interest === | ||
* '''[[w:Compound interest]]''' calculation arises when interest is added to the [[w:principal]], so that, from that moment on, the interest that has been added also earns [[w:interest]]. This addition of interest to the principal is called compounding. ( Wikipedia ) | * '''[[w:Compound interest]]''' calculation arises when interest is added to the [[w:principal]], so that, from that moment on, the interest that has been added also earns [[w:interest]]. This addition of interest to the principal is called compounding. ( Wikipedia ) | ||