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Rounding of Decimals
New Terms in This Chapter
Percents and Their Applications
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1nterest 60 days Accounting Topics actuarial interest rate ANNUAL PERCENTAGE RATE annuity Answers Appendix assets August 13 Bank Discounts bill Borrowing Money bought calculated cash discount charge account Check coefficient Compound amount Compound interest compounded monthly compounded quarterly compounded semiannually Consumer Credit conversion periods cost credit terms current liabilities debt decimal places decimal point deducted denominator deposit discount period discount rate Divide both sides dividend earnings equation EXAMPLE face value February 28 finance charge FlGURE formula fraction improper fraction interest charge investment invoice list price loan markdown maturity date maturity value merchandise method mixed number money is worth monthly payments months multiply nominal interest rate nominal rate number of days paid present value principal profit purchases ratio repaid retailer selling price simple interest sold Subtract Table C-5 value trade discount TRY THESE PROBLEMS yield to maturity