This guide provides useful resources for a wide variety of math topics. It is targeted at students enrolled in a math course or any other Centennial course that requires math knowledge and skills.

- Welcome
- Learning Math Strategies (Online)Toggle Dropdown
- Study Skills for MathToggle Dropdown
- Business Math
- Place Value in Decimal Number Systems
- Arithmetic Operations
- Basic Laws
- Operations on Signed numbers
- Order of Operations
- Some Useful Basic Numeracy
- Decimals
- Fractions
- Percents
- Ratios and Proportions
- Exponents
- Statistics
- Factoring
- Rearranging Formulas
- Solving Linear Equations
- Trade and Cash Discounts
- Multiple Rates of Discount
- Payment Terms and Cash Discounts
- Markup
- Markdown
- Simple Interest
- Equivalent Values
- Compound Interest
- Equivalent Values in Compound Interest
- Nominal and Effective Interest Rates
- Annuities
- Solving Systems of Linear Equations

- Hospitality MathToggle Dropdown
- Engineering MathToggle Dropdown
- Basic Laws
- Operations with Numbers
- Prime Factorisation and Least Common Multiple
- Fractions
- Exponents
- Reducing Radicals
- Factoring
- Rearranging Formulas
- Solving Linear Equations
- Areas and Volumes of Figures
- Congruence and Similarity
- Functions
- Domain and Range of Functions
- Basics of Graphing
- Transformations
- Graphing Linear Functions
- Graphing Quadratic Functions
- Solving Systems of Linear Equations
- Solving Quadratic Equations
- Solving Higher Degree Equations
- Trigonometry
- Graphing Trigonometric Functions
- Graphing Circles and Ellipses
- Exponential and Logarithmic Functions
- Complex Numbers
- Number Bases in Computer Arithmetic
- Linear Algebra
- Calculus
- Set Theory
- Modular Numbers and Cryptography
- Statistics
- Problem Solving Strategies

- Upgrading / Pre-HealthToggle Dropdown
- Basic Laws
- Place Value in Decimal Number Systems
- Decimals
- Significant Digits
- Prime Factorisation and Least Common Multiple
- Fractions
- Percents
- Ratios and Proportions
- Exponents
- Reducing Radicals
- Metric Conversions
- Factoring
- Solving Linear Equations
- Solving Quadratic Equations
- Polynomial Long Division
- Exponential and Logarithmic Functions
- Statistics

- Nursing MathToggle Dropdown
- Arithmetic Operations
- Order of Operations
- Place Value in Decimal Number Systems
- Decimals
- Fractions
- Percents
- Ratios and Proportions
- Interpreting Drug Orders
- Oral Dosages
- Dosage Based on Size of the Patient
- Parenteral Dosages
- Intravenous (IV) Administration
- Infusion Rates for Intravenous Piggyback (IVPB) Bag
- General Dosage Rounding Rules

- Transportation MathToggle Dropdown
- PhysicsToggle Dropdown

If an amount of money is subject to a rate of interest, it will grow over time. Thus, the value of the amount of money changes over time. This change is known as the time value of money. For example, if $1000 is invested today at 4% p.a. simple interest. In three months, this value is $1010, $1020 in six months, and $1040 in one year.

The value $1000 today, $1010 in three months, $1040 in one year are called **equivalent values** as they represent the same investment with the same interest rate at different times.

This is important because in order to compare choices, we must make a rational choice on a specific date called the **focal date**. The **focal date** can be set on any date.

The choice of calculating the **Present Value**, **P**, compared to the **Future Value**, **S**, depends on the relation of the due date/payment date in comparison to the **focal date**.

1. If the ** due date falls before the focal date**, calculate the future value, S.This means with a positive interest rate, you should get a larger value after calculation. For simple interest, you will be calculating S from \(S=P(1+rt)\).

2. If the *due date falls after the focal date*, calculate the present value, P.This means with a positive interest rate, you should get a smaller value after calculation. For simple interest, you will be calculating P from \(P=\frac{S}{1+rt}\).

**On March 1, Bear Mountain Tours borrowed $1500. Three equal payments are required, on April 30, June 20, and August 10, as well as final payment of $400 on September 30 of the same year. If the focal date is September 30, what is the amount of the equal payments at 6.75%?**

See the video below to see how to solve this problem.

Designed by Matthew Cheung. This work is licensed under a Creative Commons Attribution 4.0 International License.

- Last Updated: Mar 25, 2023 5:34 PM
- URL: https://libraryguides.centennialcollege.ca/mathhelp
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