Financial Calculations 0.0 / 5 ? OtherCalculationsOtherAQA Created by: Caitlin WardCreated on: 20-05-14 14:59 Gross Profit Selling Price - Cost Price 1 of 26 Gross Profit Percentage Gross Profit / Cost Price x100 2 of 26 Multipliers The Multiplier is the amount added to find the answer. Example: £80 is 100% so what would 120% be? 80 x 120/100 = £96 = 80 x 1.20 3 of 26 Ratios and Proportion http://getrevising.co.uk/resources/ratio_and_proportion 4 of 26 Percentage Change New Amount - Old Amount / Old Amount x 100 5 of 26 Percentage Change Sale Price - Cost price / Cost price x 100 6 of 26 AER - Annual Equivalent Rate Interest on savings / Amount invested x 100 7 of 26 Total Amount payable The original loan plus the interest paid 8 of 26 Interest Interest = Total Payment - Original 9 of 26 Mortgage Calculations How much you borrow depends on your pre-tax income 10 of 26 One Person Mortgage The usual rule is 3.25 x annual income 11 of 26 Two People Mortgage The greater of these options: 3.25 x higher annual income + 1 x lower annual income OR 2.5 x combined annual income 12 of 26 Loan to Value Percentage of loan that you would be given - the rest would have to be made up as a deposit 13 of 26 Salary Calculations Income tax based on 2013/2014 paper 14 of 26 Basic Rate 20% Basic rate on the first £32245 of taxable income 15 of 26 Higher Rate 40% Higher rate tax on taxable income between £32245 and £150,000 16 of 26 Additional Rate 45% additional rate on incomes over £150,000 17 of 26 Personal tax allowance Standard personal tax allowance before paying tax is £9440 18 of 26 Simple Interest Interest is calculated on the original investment 19 of 26 Compound Interest At the end of the period, interest is added on the new amount which includes all previous interest recieved 20 of 26 National Insurance http://getrevising.co.uk/resources/national_insurance 21 of 26 Compound Interest Formulae A = P (1+P)n 22 of 26 Compound Interest Formulae R = n(square root) A/P - 1 23 of 26 Compound Interest A = Amount accruing after n years 24 of 26 Compound Interest P = principal / amount invested 25 of 26 Compound Interest R = Annual Rate % (change to a decimal) 26 of 26
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