Reading:
Math Definitions - Letter F
Chapters
Finance Charge
Definition of Finance Charge
A finance charge is the total cost of borrowing money.
For example, if Sam takes out a loan of \(\$300\) that costs \(\$5\) to set up and incurs \(\$50\) of interest, then the finance charge for Sam's loan is \(\$55\).
Description
The aim of this dictionary is to provide definitions to common mathematical terms. Students learn a new math skill every week at school, sometimes just before they start a new skill, if they want to look at what a specific term means, this is where this dictionary will become handy and a go-to guide for a student.
Audience
Year 1 to Year 12 students
Learning Objectives
Learn common math terms starting with letter F
Author: Subject Coach
Added on: 6th Feb 2018
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