GENERAL MATH 11

REVIEWER

Lender or Creditor
- Who owns the money or make funds available
Borrower or Debtor
- Who owes the money or avails the funds from lender
Origin or Loan Date
- date which the money is received
Time or Term
- amount of time in years the money is borrowed
Principal
- amount of money borrowed
Rate
- annual rate, usually in percent
Compound Interest
- interest is compounded on the principal
Interest
- amount paid for the use of money
Maturity Value
- sum of the principal and the interest that accumulates over the
agreed term
Creditor
- who invests the money
Annuity
- equal payments at regular intervals.
Simple Annuity
- interest period is same as the payment period
General Annuity
- if the two do not coincide: differing
Ordinary Annuity
- payments are made at the end of each interest period
Future Value of an Annuity
- compounded to the end of the term
Present Value of an Annuity
- lump sum required at the beginning
Propositions
- Declarative sentence that is either true or false
Negation
~ means not
Conjunction
^ means and
Disjunction
v means or
Conditional
→ means then (ex: p→q, p then q)
Different Forms of Conditional Propositions
Converse, Contrapositive, Inverse
Converse
q→p
Contrapositive
~q→~p
Inverse
~p→~q