General Mathematics (Terms)

• • Interest (I)
  • Amount PAID or EARNED for the USE OF MONEY
• • Time or Term (t)
  • AMOUNT of TIME in YEARS  the money is borrowed or invested
• • Principal (P)
  • Amount of money BORROWED or INVESTED on the origin date
• It is also called FACE VALUE or the PRESENT VALUE = Principal Value
• Rate ( r )ANNUAL RATE,  usually in PERCENT, CHARGE by the lender, or rate of INCREASE of the INVESTMENT
• Simple Interest

  • A QUICK and EASY method of calculating the INTEREST CHARGE on LOAN.
• • Ordinary Interest
  • Also known as BANKER’s INTEREST
•  Ordinary Interest = Interest based on a 360-DAY YEAR
• • Exact Interest
  • Interest based on a 365-DAY YEAR
• Maturity Value

  • It is the PRINCIPAL AMOUNT of the bond to be paid by the borrower to the owner at MATURITY
• Compound Interest - When the interest due at the end of a certain period is ADDED to the PRINCIPAL and that SUM EARNS for the next period, the interest paid is called COMPOUND INTEREST.
• 1. Annually

  • ONCE per year
• 1. Semi - Annually

  • TWICE per year
• 1. Quarterly

  • 4 TIMES per year
• 1. Monthly

  • 12 TIMES per year
• 1. Weekly

  • 52 TIMES per year
• 1. Daily

  • 365 TIMES per year
• Scientific Notation

  • A way to represent very large or very small numbers in a CONCISE and STANDARDIZED
• • A COEFFICIENT ( C ) - that is a number GREATER than or EQUAL to 1 and LESS than 10.
• • An EXPONENT (n) represents the POWER of 10 by which the coefficient is multiplied.
• Annuities

  • A fixed sum of money paid to someone at REGULAR INTERVALS, subject or a fixed compound interest rate.
• 1. Annuity Certain

  • Payable for DEFINITE duration.
  • Begins and ends in a DEFINITE or FIXED date
• 1. Simple Annuity

  • Interest conversion or compounding period is EQUAL or the SAME as the payment interval
• 1. Ordinary Annuity

  • An annuity in which the periodic payment is made at the END of each payment interval
• 1. Annuity Due

  • An annuity in which the periodic payment is made at the BEGINNING of each payment interval
• 1. Deferred Annuity

  • The periodic payment is NOT made at the beginning NOR at the end of each payment interval, but some LATER DATE
• 1. Annuity Uncertain

  • Payable for INDEFINITE DURATION.
• 1. General Annuity

  • Interest conversion or compounding period is UNEQUAL or NOT THE SAME as the payment interval
• • Future Value
  • is the TOTAL ACCUMULATION of the payments and interest earned.
• • Present Value
  • The principal that must be INVESTED TODAY to provide regular payments of an annuity
• Periodic payment (P) – a payment made at regular times
• PROPOSITION

  Is a declarative sentence that can be classified as

  true or false, but not both.
• Truth Table – the value of a proposition that can be

  either True (T) or False (F).
• Simple Proposition - proposition that conveys one

  thought/idea with no connecting words.
• Compound Proposition - A proposition that contains two

  or more simple propositions that are put together using

  connective words.
• Negation - an operation that takes a proposition to another proposition

  "not ", standing for " is not true"
• Conjunctiontwo simple propositions connected using the word ‘AND’
• Disjunction - two simple propositions connected using the word ‘OR’
• Conditional - two simple propositions connected using the word ‘IF...

  THEN.’
• Biconditional - statement that combines a hypothesis and conclusion

  with the words 'if and only if'