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:Mathematics typically used in commerce includes [[w:elementary arithmetic|elementary arithmetic]], elementary [[w:algebra|algebra]], [[w:statistics|statistics]] and [[w:probability|probability]]. Business management can be made more effective in some cases by use of more advanced mathematics such as [[w:calculus|calculus]], [[w:matrix algebra|matrix algebra]] and [[w:linear programming|linear programming]]. ( Wikipedia ) | :Mathematics typically used in commerce includes [[w:elementary arithmetic|elementary arithmetic]], elementary [[w:algebra|algebra]], [[w:statistics|statistics]] and [[w:probability|probability]]. Business management can be made more effective in some cases by use of more advanced mathematics such as [[w:calculus|calculus]], [[w:matrix algebra|matrix algebra]] and [[w:linear programming|linear programming]]. ( Wikipedia ) | ||
=== Business Math week 3 === | |||
=== Business Math | |||
* Interest calcualations | * Interest calcualations | ||
** Simple interest calculation '''[[w:Interest|Interest]] = [[w:Bond_(finance)#Principal|Principal]] * [[w:Interest rate|Interest rate]] * Time ( I = P * R * T )''' ( [[w:fi:Korko]] = Pääoma * Korkoprosentti ) | ** Simple interest calculation '''[[w:Interest|Interest]] = [[w:Bond_(finance)#Principal|Principal]] * [[w:Interest rate|Interest rate]] * Time ( I = P * R * T )''' ( [[w:fi:Korko]] = Pääoma * Korkoprosentti ) | ||
** '''[[w:Compound interest]]''' arises when interest is added to the principal, so that, from that moment on, the interest that has been added also earns interest. This addition of interest to the principal is called ''compounding''. | ** '''[[w:Compound interest]]''' arises when interest is added to the principal, so that, from that moment on, the interest that has been added also earns interest. This addition of interest to the principal is called ''compounding''. | ||
=== Business Math week 4 === | |||
=== Business Math | |||
* '''[[w:Index (economics)]]''' - In [[w:economics]] and [[w:finance]], an index is a statistical measure of changes in a representative group of individual data points. ( Wikipedia ) | * '''[[w:Index (economics)]]''' - In [[w:economics]] and [[w:finance]], an index is a statistical measure of changes in a representative group of individual data points. ( Wikipedia ) | ||
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* A '''[[w:cost-of-living index]]''' is a theoretical [[w:price index]] that measures relative [[w:cost of living]] over time or regions. It is an index that measures differences in the price of [[w:good (economics)|goods]] and [[w:service (economics)|service]]s, and allows for substitutions to other items as prices vary. ( Wikipedia ) | * A '''[[w:cost-of-living index]]''' is a theoretical [[w:price index]] that measures relative [[w:cost of living]] over time or regions. It is an index that measures differences in the price of [[w:good (economics)|goods]] and [[w:service (economics)|service]]s, and allows for substitutions to other items as prices vary. ( Wikipedia ) | ||
=== Business Math | === Business Math week 5 === | ||
* '''[[w:Value added tax]] ( VAT )''' ( [[w:fi:Arvonlisävero]] ) | * '''[[w:Value added tax]] ( VAT )''' ( [[w:fi:Arvonlisävero]] ) | ||
* The '''[[w:foreign exchange market]]''' (forex, FX, or currency market) ( [[w:fi:Valuuttamarkkinat]] ) is a form of exchange for the global decentralized trading of international currencies. ( Wikipedia ) | * The '''[[w:foreign exchange market]]''' (forex, FX, or currency market) ( [[w:fi:Valuuttamarkkinat]] ) is a form of exchange for the global decentralized trading of international currencies. ( Wikipedia ) | ||
* The '''Current rate''' and the '''[[w:forward exchange rate]]''' (also referred to as '''forward rate''' or '''forward price''') is the [[W:exchange rate]] at which a [[W:commercial bank|bank]] agrees to exchange one [[w:currency]] for another at a future date when it enters into a [[w:forward contract]] with an investor. [[w:Multinational corporation]]s, banks, and other [[w:financial institution]]s enter into forward contracts to take advantage of the forward rate for '''[[w:hedge (finance)|hedging]] purposes'''. ( Wikipedia ) | * The '''Current rate''' and the '''[[w:forward exchange rate]]''' (also referred to as '''forward rate''' or '''forward price''') is the [[W:exchange rate]] at which a [[W:commercial bank|bank]] agrees to exchange one [[w:currency]] for another at a future date when it enters into a [[w:forward contract]] with an investor. [[w:Multinational corporation]]s, banks, and other [[w:financial institution]]s enter into forward contracts to take advantage of the forward rate for '''[[w:hedge (finance)|hedging]] purposes'''. ( Wikipedia ) | ||
=== Business Math | === Business Math week 6 === | ||
* '''[[w:Compound interest]]''' calculation arises when interest is added to the [[w:principal]], so that, from that moment on, the interest that has been added also earns [[w:interest]]. This addition of interest to the principal is called compounding. ( Wikipedia ) | * '''[[w:Compound interest]]''' calculation arises when interest is added to the [[w:principal]], so that, from that moment on, the interest that has been added also earns [[w:interest]]. This addition of interest to the principal is called compounding. ( Wikipedia ) | ||
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= Business Math 2 | == Business Math 2 == | ||
* '''Periodic payment''' | * '''Periodic payment''' | ||
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* '''[[w:Hire purchase]]''' ( [[w:fi:Osamaksu]] ) is the legal term for a contract, in which persons usually agree to pay for goods in parts or a percentage at a time. ( Wikipedia ) | * '''[[w:Hire purchase]]''' ( [[w:fi:Osamaksu]] ) is the legal term for a contract, in which persons usually agree to pay for goods in parts or a percentage at a time. ( Wikipedia ) | ||
* '''[[w:Leasing]]''' ( [[w:fi:Leasing]] ) is a process by which a firm can obtain the use of a certain fixed assets for which it must pay a series of contractual, periodic, tax deductible payments. ( Wikipedia ) | * '''[[w:Leasing]]''' ( [[w:fi:Leasing]] ) is a process by which a firm can obtain the use of a certain fixed assets for which it must pay a series of contractual, periodic, tax deductible payments. ( Wikipedia ) | ||