1) The sum or percentage paid for services, for example to an agent or salesperson. a) Commission b) Piecework c) Principal d) Simple Interest e) Taxable Income 2) Employment where a worker is paid a fixed rate for each item produced or action performed regardless of the time taken. a) Commission b) Piecework c) Principal d) Simple Interest e) Taxable Income 3) The total amount of money borrowed or invested on which interest is calculated. Also referred to as present value (PV). a) Commission b) Piecework c) Principal d) Simple Interest e) Taxable Income 4) The interest accumulated when the interest payment in each period is a fixed percentage of the principal. a) Commission b) Piecework c) Principal d) Simple Interest e) Taxable Income 5) The amount of yearly income that is used to calculate an individual’s or company’s payable income tax. a) Commission b) Piecework c) Principal d) Simple Interest e) Taxable Income 6) The interest earned by investing a sum of money when each successive interest payment is added to the principal for calculating the next interest payment. a) Compound Interest b) Future Value c) Depreciation d) Simple Interest e) Commission f) Principal 7) The total value of an investment or annuity at the end of a specified term, including all contributions and interest earned. a) Compound Interest b) Future Value c) Depreciation d) Simple Interest e) Commission f) Principal 8) A decrease in value due to wear and tear, decay, decline in price etc. a) Compound Interest b) Future Value c) Depreciation d) Simple Interest e) Commission f) Principal

NSW - Mathematics - Stage 5 - Financial Mathematics A(core) + B(core)

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