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Financial Mathematics
Applied Mathematics · Chapter 14 · Unit 6: Financial Mathematics
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Topics 6
- Perpetuity: meaning and present value
- Sinking fund: meaning, real-life examples, advantages; sinking fund versus savings account
- EMI by the flat-rate method and the reducing-balance method; EMIs for loans and asset purchases
- Rate of return and nominal rate of return: meaning, use and formulae
- Compound annual growth rate (CAGR): meaning, use and formula
- Linear (straight-line) method of depreciation: formula, advantages and disadvantages