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[*mememe*]

hey
im trying to cram in everything now. last day study , could sum one please tell me the meaning of installment , compound interset ,installment and superannuation

thanks in advanced

 

[JayWalker]

hey
im trying to cram in everything now. last day study , could sum one please tell me the meaning of installment , compound interset ,installment and superannuation

thanks in advanced

Oh cmon someone help the new guy!!

Ok ill try... but garenteed to be incorrect to check this with the guy next to you in your exam

Installment is when the person puts money into an account or Balance

Compound interest is like this,, the person puts money in, after one period, thats compounded with interest (the bank goes "Hey, lets give this guy more money" and is like this: Ammount After Interest = $A * Rate as a number [eg 5% = 1.05, 12% = 1.12 etc])
Then, every period, the new ammount is compounded again... Creating a geometric progression and you can then find the sum n stuff

Superannuation is for old people
The person puts in money on a regular basis for a number of periods. first money packet accumulates interest for the whole time, next money accumulates interest for whole time MINUS one period.. etc...

You should really know this...

You'll be fine!!!

 

[*mememe*]

oh i get it now

thanks mate