Inflation (Grade 12 NSC Matric Mathematical Literacy): Flashcards

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Inflation
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Inflation

General increase in prices of goods/services over time

Effect of inflation on money's purchasing power

Same amount buys fewer goods/services than before

Forward calculation formula (future price)

Current price × (1 + inflation rate as decimal)

Backward calculation formula (previous price)

Current price ÷ (1 + inflation rate as decimal)

Inflation rate formula

(Current price - Previous price) ÷ Previous price × 100%

Compound inflation formula

A=P(1+i)nA = P(1 + i)^n

Forwards vs backwards: key difference

Forwards multiply by (1+rate); backwards divide by (1+rate)

In A=P(1+i)nA = P(1+i)^n, AA represents

Projected cost

In A=P(1+i)nA = P(1+i)^n, PP represents

Current cost

Convert 6.5% to decimal

0.065

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Financial Documents

Budgets, Income, and Expenditure Statements

Banking, Interest, and Tax

Inflation

Payslips, Deductions, and Tax

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Financial Documents

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Banking, Interest, and Tax

Inflation

Payslips, Deductions, and Tax

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Financial Documents

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Banking, Interest, and Tax

Inflation

Payslips, Deductions, and Tax

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Financial Documents

Budgets, Income, and Expenditure Statements

Banking, Interest, and Tax

Inflation

Payslips, Deductions, and Tax

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