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Financial Mathematics Cheat Sheet (DRAFT) by

Year 9 Revision (New Syllabus)

This is a draft cheat sheet. It is a work in progress and is not finished yet.

Wages

Hourly Rate
Normal rate of pay
Overtime
Additional hours worked over the normal work week
Penalty rates
Special rates for working overtime, weekends, or public holidays

Penalty Rates

Time and a half
hourly rate * 1.5
Double time
hourly rate * 2
Double time and a half
hourly rate * 2.5
 

Tax and Deductions

Gross Income
The total amount of money you earn before any taxes or deductions are taken out
Net Income
The amount of money you take home after tax and deductions are subtracted from your gross income
Deductions
Specific expenses or allowances for work that you can subtract from your gross income
Taxable Income
Your total income after deductions that the government uses to calculate how much you owe
 

Simple Interest

Find the interest
I = Prn
Find the Principal
P = I/rn
Find the rate
r = I/Pn
Find the term
n = I/Pr
I = Interest
P = Principal
r = rate (as a decimal)
n = term (in years)