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Questions and Answers
John invests $5,000 in an account that earns simple interest at a rate of 3% per year. How much interest will he earn after 4 years?
John invests $5,000 in an account that earns simple interest at a rate of 3% per year. How much interest will he earn after 4 years?
- $750
- $200
- $150
- $600 (correct)
Compound interest always results in a higher return than simple interest over the same period, assuming the same principal and interest rate.
Compound interest always results in a higher return than simple interest over the same period, assuming the same principal and interest rate.
True (A)
If you exchange $1,000 AUD to USD at an exchange rate of 0.75, how many USD will you receive?
If you exchange $1,000 AUD to USD at an exchange rate of 0.75, how many USD will you receive?
750
When creating a budget, the difference between total income and total expenses is known as ________.
When creating a budget, the difference between total income and total expenses is known as ________.
Match the matrix operation with its description:
Match the matrix operation with its description:
What is the unit price of a 5kg bag of rice that costs $12.50?
What is the unit price of a 5kg bag of rice that costs $12.50?
Youth Allowance eligibility is solely based on the applicant's income.
Youth Allowance eligibility is solely based on the applicant's income.
If a share is purchased for $10 and then sold for $12, what is the capital gain per share?
If a share is purchased for $10 and then sold for $12, what is the capital gain per share?
An investment of $2,000 earns compound interest at a rate of 5% per year. What will be the approximate value of the investment after 3 years?
An investment of $2,000 earns compound interest at a rate of 5% per year. What will be the approximate value of the investment after 3 years?
In matrix operations, matrices can only be added or subtracted if they have the same ________.
In matrix operations, matrices can only be added or subtracted if they have the same ________.
Flashcards
Simple Interest
Simple Interest
Interest calculated only on the principal amount.
Compound Interest
Compound Interest
Interest calculated on the principal and accumulated interest.
Unit Price
Unit Price
The price of a single unit of a product.
Budget
Budget
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Exchange Rate
Exchange Rate
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Shares
Shares
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Matrix
Matrix
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Youth Allowance
Youth Allowance
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Study Notes
- Unit 1 Mathematics Applications ATAR covers several key financial and mathematical concepts.
Youth Allowance
- Explores the criteria and calculations involved in Youth Allowance eligibility.
Simple Interest
- Simple interest calculations are covered.
- Problems involve calculating interest earned on a principal amount.
Compound Interest
- Focuses on compound interest calculations, where interest is reinvested.
- Problems include determining the future value of an investment.
Unit Price & Budgets
- Examines the calculation of unit prices and the creation of budgets.
- Budgeting involves managing income and expenses.
Exchange Rates
- Looks at currency exchange rates and their applications.
- Problems may include converting amounts between different currencies.
Shares
- Explores the concepts related to shares, including investments.
Matrices
- Introduces matrices and their operations.
- Matrix operations include addition, subtraction, and multiplication.
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