### Present Remotely

Send the link below via email or IM

• Invited audience members will follow you as you navigate and present
• People invited to a presentation do not need a Prezi account
• This link expires 10 minutes after you close the presentation

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.

# Financial Mathematics

No description
by

## Peiti Haines

on 7 March 2015

Report abuse

#### Transcript of Financial Mathematics

Financial Mathematics
Year 9MAT1

Income of Teacher
Type of Income
Teachers are paid a salary that is converted into fortnightly payments
A salary of \$61,310 will become gross fortnightly pay of \$2,358.08
http://www.payscale.com/research/AU/All_K-12_Teachers/Salary
Income Tax
This salary would attract income tax. Using the tax table, the tax payable for the year would be
3572+0.325*(61310-37000) =\$11,472.75
Investment Account
An investment account available from Commonwealth Bank is
https://www.commbank.com.au/personal/accounts/term-deposits/rates-fees.html
I have an investment in this account of \$15,000 for the full 60 months.
At the end of this time the value is
15000*(1.03)^5= \$17,389.11
I have earned \$2389.11 interest
Income
Investment Account
Purchase on Terms
Depreciation of car

Purchase on Terms
To purchase this TV with the terms of 10% simple interest of 5% p.a for 3 years and equal monthly repayments over 3 years
Deposit = 0.1 x 7298
=\$729.80
Balance = 7298 - 729.80
= \$6568.20
Interest = 6568.20 x 0.05 x 3
= 985.23
Total Repayments = 6568.30+985.23
=7553.53
Monthly Repayment = 7553.53/36
=\$209.82
Depreciation of Car
http://www.harveynorman.com.au/tv-blu-ray-home-theatre/tvs/tvs
http://www.carsales.com.au/car-valuations/
In 2015, the prices above are comparing a 3 year old car to a 4 year old car of the same model
The car has depreciated by \$4,500 for lowest level of private price guide.
This is a % decrease of 4500/23800 x 100
= 18.9%