Finance and Growth (Grade 10 NSC Matric Mathematics): Flashcards

Money charged for borrowing money, as a percentage

Interest calculated only on the initial amount (principal)

Initial amount of money invested or borrowed

Final total amount after interest has been added

Percentage rate expressed as a decimal

Per year

$A = P(1 + in)$

Divide by 100 (e.g., 5% = 0.05)

$P = \frac{A}{1 + in}$

$i = \frac{A - P}{Pn}$