Business Maths Flashcards
(24 cards)
Logs for equation with unknown variable
Log in base a of x to the power of a = a times log in base a of x
Sum of a geometric series
A( r to the power of n , -1)/r-1
Sum of a geometric to infinity
A/1-r
Future value of investment
F=P(1+r)to the power of n
Future value investment when compounding rate differs
F=P(1+r/m)to the power of mt
Investment exponentially compounded
F= Pe to the power of rt
Apr normal
Apr = {(1+r/m)to the power of m}-1
Apr exponential
Apr=(e to the power of r ) -1
Sum of arithmetic series
N/2{2a+(n-1)d}
Finding nth term arithmetic
A+(n-1)d
Finding nth term geometric
A(r to the power of n-1)
Log application / def
Log in base b of x =y AND b to the power of y =x
Log application for ln
Lnx =y AND
e to the power of y =x
Equilibrium price
Pd=ps
Total costs
Fc+vc
Total revenue
Pxq
Bep
Tr=tc
Average costs
Tc/q
Marginal revenue
D(tR)/dq
Marginal costs
d(tc)/dq
Marginal profit
D(pr)/dq
If f is y to the power of x , they differentiated to
(Lny)(y to the power of x)
Elasticity
P/q(dq/dp)
To maximise revenue …
We set elasticity as -1
