Scribd Logo
Upload

Welcome to Scribd!

  • 15 views

    Formula Gen Math

    Uploaded by

    God Serena
    The document outlines formulas for calculating balances and interest on loans paid via installments. It provides two rules - one for calculating balance based on the principal, interest rate over time since the loan's origin and installment payment. The other rule calculates balance as the principal multiplied by the interest rate over the full term minus the installment payment and interest accrued between the payment and maturity. It also provides formulas for compound interest, amortization, interest, and applying principal to balances.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content

    You might also like

    Formula Gen Math

    Uploaded by

    God Serena
    15 views2 pages
    The document outlines formulas for calculating balances and interest on loans paid via installments. It provides two rules - one for calculating balance based on the principal, interest rate over time since the loan's origin and installment payment. The other rule calculates balance as the principal multiplied by the interest rate over the full term minus the installment payment and interest accrued between the payment and maturity. It also provides formulas for compound interest, amortization, interest, and applying principal to balances.

    Original Description:

    some formulas in business mathematics under general mathematics

    Original Title

    formula gen math

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document outlines formulas for calculating balances and interest on loans paid via installments. It provides two rules - one for calculating balance based on the principal, interest rate over time since the loan's origin and installment payment. The other rule calculates balance as the principal multiplied by the interest rate over the full term minus the installment payment and interest accrued between the payment and maturity. It also provides formulas for compound interest, amortization, interest, and applying principal to balances.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    15 views2 pages

    Formula Gen Math

    Uploaded by

    God Serena
    The document outlines formulas for calculating balances and interest on loans paid via installments. It provides two rules - one for calculating balance based on the principal, interest rate over time since the loan's origin and installment payment. The other rule calculates balance as the principal multiplied by the interest rate over the full term minus the installment payment and interest accrued between the payment and maturity. It also provides formulas for compound interest, amortization, interest, and applying principal to balances.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 2

    Paying on Installment Basis Rule No.

    1
    ¿∗Balance =( P ×(1+ r t 1)−IP)×(1+r t 2) where: IP=Installment Payment
    Merchant’s Rule
    ¿∗¿ Balance=P × ( 1+ r t 0 ) −IP−Pr t 3 where: IP=Installment Payment
    n
    ¿∗¿∗Compound Interest =P [ (1+i ) −1]
    Amortization
    i
    Amortization=P
    1−(1+ i)−n
    Interest=Balance × i
    Applied ¿ Principal=Amortization−Interest
    Balance=Previous Balanc e− Applied ¿ Principal
    *P=principal, r=rate of interest, t=term (in years)
    ¿
    **t 1=no . of days ¿ the origin date ¿ the dateof installment payment ,
    360
    t 2=no . of days ¿ the date of installment payment ¿ maturity date ¿
    360
    ¿
    ***t 0=no . of days ¿the origin date ¿ maturity date
    360 ,
    t 3=no . of days ¿ the date of installment payment (included )¿ maturity date ¿
    360
    rate of interest
    ****i=coded interest = , n=term ( ¿ years ) × conversion period
    conversion period
    ¿ Simple Interest=Prt
    Paying on Installment Basis Rule No. 1
    ¿∗Balance =( P ×(1+ r t 1)−IP)×(1+r t 2) where: IP=Installment Payment
    Merchant’s Rule
    ¿∗¿ Balance=P × ( 1+ r t 0 ) −IP−Pr t 3 where: IP=Installment Payment
    n
    ¿∗¿∗Compound Interest =P [ (1+i ) −1]
    Amortization
    i
    Amortization=P −n
    1−(1+ i)
    Interest=Balance × i
    Applied ¿ Principal=Amortization−Interest
    Balance=Previous Balanc e− Applied ¿ Principal
    *P=principal, r=rate of interest, t=term (in years)
    ¿
    **t 1=no . of days ¿ the origin date ¿ the dateof installment payment ,
    360
    t 2=no . of days ¿ the date of installment payment ¿ maturity date ¿
    360
    ¿
    ***t 0=no . of days ¿the origin date ¿ maturity date
    360 ,
    t 3=no . of days ¿ the date of installment payment (included )¿ maturity date ¿
    360
    rate of interest
    ****i=coded interest = , n=term ( ¿ years ) × conversion period
    conversion period
    ¿ Simple Interest=Prt
    Paying on Installment Basis Rule No. 1
    ¿∗Balance =( P ×(1+ r t 1)−IP)×(1+r t 2) where: IP=Installment Payment
    Merchant’s Rule
    ¿∗¿ Balance=P × ( 1+ r t 0 ) −IP−Pr t 3 where: IP=Installment Payment
    n
    ¿∗¿∗Compound Interest =P [ (1+i ) −1]
    Amortization
    i
    Amortization=P
    1−(1+ i)−n
    Interest=Balance × i
    Applied ¿ Principal=Amortization−Interest
    Balance=Previous Balanc e− Applied ¿ Principal
    *P=principal, r=rate of interest, t=term (in years)
    ¿
    **t 1=no . of days ¿ the origin date ¿ the dateof installment payment ,
    360
    t 2=no . of days ¿ the date of installment payment ¿ maturity date ¿
    360
    ¿
    ***t 0=no . of days ¿the origin date ¿ maturity date
    360 ,
    t 3=no . of days ¿ the date of installment payment (included )¿ maturity date ¿
    360
    rate of interest
    ****i=coded interest = , n=term ( ¿ years ) × conversion period
    conversion period
    ¿ Simple Interest=Prt
    Paying on Installment Basis Rule No. 1
    ¿∗Balance =( P ×(1+ r t 1)−IP)×(1+r t 2) where: IP=Installment Payment
    Merchant’s Rule
    ¿∗¿ Balance=P × ( 1+ r t 0 ) −IP−Pr t 3 where: IP=Installment Payment
    n
    ¿∗¿∗Compound Interest =P [ (1+i ) −1]
    Amortization
    i
    Amortization=P −n
    1−(1+ i)
    Interest=Balance × i
    Applied ¿ Principal=Amortization−Interest
    Balance=Previous Balanc e− Applied ¿ Principal
    *P=principal, r=rate of interest, t=term (in years)
    ¿
    **t 1=no . of days ¿ the origin date ¿ the dateof installment payment ,
    360
    t 2=no . of days ¿ the date of installment payment ¿ maturity date ¿
    360
    ¿
    ***t 0=no . of days ¿the origin date ¿ maturity date
    360 ,
    t 3=no . of days ¿ the date of installment payment (included )¿ maturity date ¿
    360
    rate of interest
    ****i=coded interest = , n=term ( ¿ years ) × conversion period
    conversion period

    You might also like