W4 Flashcards
What is interest?
Cost of borrowing money that isn’t yours. Can also be the money paid to you by a bank when you invest money.
What is the formula for interest rate?
r/100
In what form is interest rate expressed?
As a percentage.
What is flat rate depreciation?
When value decreases by a fixed rate each year.
What is unit cost depreciation?
When you base depreciation on usage rather than age.
Eg. value of a car based on km, instead of age.
Uses same formula as flat rate depreciation, but represents different things.
What is a geometric sequence?
A special pattern where each number is a fixed multiple of the number before it.
What is the common ratio in a geometric sentence?
The fixed multiple in between each pair of numbers.
Does the common ratio have to stay the same in order for it to be a geometric sentence?
Yes.
Are the lines on the graph of a geometric sentence curved or straight?
Curved.
