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Financial Maths 1
Vocabulary practice
| Term | Definition |
|---|---|
| Percentage increase | is the amount of the increase of value or quantity expressed as a percentage of the original value or quantity |
| Percentage decrease | is the amount of the decrease of value or quantity expressed as a percentage of the original value or quantity |
| Simple interest | is paid on an investment or loan on the basis of the original amount invested or borrowed called the principal |
| Principal | is the original amount invested or borrowed |
| Rate of interest | is the percentage rate at which the money is borrowed or invested |
| Time | is the time period/duration the money is borrowed or invested for |
| Amount | is the total money that is returned including the interest for the time it is borrowed or invested for |
| GST | is goods and services tax which is a 10% tax that is added to most purchases |
| Share | is a unit of ownership of a company |
| Price-to-earnings ratio | is a measure of the profit of a company, given by the current share price/profit per share |
| Dividend | is paid by company expressed as a percentage of the share price |
| Minimum monthly balance | is the lowest amount an account contains in each calendar month |
| Compound interest | is the interest paid on a loan or investment which is credited or debited to the account at the end of each period |
| Hire-purchase agreement | is when a purchaser hires an item from the vendor and makes periodic payments at an agreed rate of interest |
| Flat rate of interest | is exactly the same as the simple rate of interest but is often called by this name in time payment agreements |
| Effective interest rate | is to work out the average amount owed over the period of the loan |
| Purchasing power | describes what you can actually buy with your money |
| Credit | is an advance of money from a financial institution, such as a bank, that does not have to be paid back immediately but which attracts interest after an interest-free period |
| Personal loan | is a sum of money borrowed from a financial institution such as a bank for buying an item for personal use |
| Inflation | is the continuous upward movement of the economy that increases prices over time or, conversely, decreases the spending power of money over time. |
Created by:
hanspalsavita
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