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Math: Difference between revisions
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*'''The time value of money''' is the value of money figuring in a given amount of interest earned or inflation accrued over a given amount of time. ( Wikipedia ) | *'''The time value of money''' is the value of money figuring in a given amount of interest earned or inflation accrued over a given amount of time. ( Wikipedia ) | ||
:*'''[[w:Time value of money#Present value of a future sum|Calculating present value of a future sum]]''' | :*'''[[w:Time value of money#Present value of a future sum|Calculating present value of a future sum]]''' | ||
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== Business Math 2 == | |||
* '''Periodic payment''' | |||
* '''Long-term [[w:loan]]''' | |||
* The term '''[[w:annual percentage rate]] (APR)''', also called nominal APR, and the term effective APR, also called EAPR describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. ( Wikipedia ) It is solved with the '''[[w:Internal rate of return]] ( IRR )''' formula in Excel ( Teacher ) | |||
::The term includes the ''[[w:nominal APR]]'' and the ''[[w:effective APR]]'' | |||
* '''[[w:Hire purchase]]''' is the legal term for a contract, in which persons usually agree to pay for goods in parts or a percentage at a time. ( Wikipedia ) | |||
* '''[[w:Leasing]]''' is a process by which a firm can obtain the use of a certain fixed assets for which it must pay a series of contractual, periodic, tax deductible payments. ( Wikipedia ) | |||