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DCAT Preparation > BUSINESS MATH > Flashcards

BUSINESS MATH Flashcards

1
Q

The interest imposed on a loan or deposit amount. It is the most commonly used concept in our daily existence.

A

Compound Interest

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2
Q

The compound interest for an amount depends on both Principal and interest gained over periods.

A

Compound Interest

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3
Q

Involves earning, or owing, interest on your interest.

A

Compound Interest

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4
Q

An easy method of calculating the interest for a loan/principal amount.

A

Simple Interest

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5
Q

A concept that is used in many sectors such as banking, finance, automobile, and so on. When you make a payment for a loan, first it goes to the monthly interest and the remaining goes towards the principal amount.

A

Simple Interest

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6
Q

Should be used when they mention specifically that the amount is “compounded continuously” in a problem.

A

Continuously Compound Formula

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7
Q

This formula involves the mathematical constant “e” whose value is approximately equal to 2.7182818

A

Continuously Compound Formula

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DCAT Preparation (5 decks)

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