Unit 07 Commercial Arithmetic

Introduction Simple interest is a basic concept in commercial arithmetic used to calculate the in...

Introduction Compound interest is a method of calculating interest where the interest earned over...

Introduction The equivalent rate is a concept in commercial arithmetic used to compare different ...

Introduction The effective interest rate, also known as the annual equivalent rate (AER) or effec...

Introduction Depreciation refers to the gradual decrease in the value of an asset over time due t...

Introduction Depreciation refers to the gradual decrease in the value of an asset over time due t...

Introduction The present value (PV) is the current worth of a sum of money to be received or paid...

Introduction An annuity is a series of equal payments made at regular intervals over a specified ...

Introduction A sinking fund is a fund established for the purpose of accumulating money over time...