Chapter 7: Money and financial mathematics
Bills, VAT, profit and loss, mark-up and margin, income tax, net pay, and compound interest.
The chapter problem
The first payslip. You will take a gross wage and work all the way down to what actually reaches a bank account — deductions, tax, and the difference between mark-up and margin on the way. By the end of the chapter you can read a payslip and say where each figure came from.
Where it is used: Payslips, bills, savings, borrowing and buying.
Your turn to connect it: Where would understanding interest or a payslip help you or someone you know in the next two years?
Sections
- 7.1 Profit, loss and percentage profit — tier O · refs N.2
- 7.2 Mark-up and margin — tier O · refs N.2
- 7.3 VAT and bills — tier O · refs N.2
- 7.4 Income tax and net pay — tier O · refs N.2
- 7.5 Simple and compound interest — tier O · refs N.2
- 7.6 Value for money and comparing offers — tier O · refs N.2
- 7.7 Currency conversion — tier O · refs N.3