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1) Lesson Objectives:
1) Lesson Objectives:
You should be able to
use the formula to find compound interest
use the formula to find the different variables in the formula
Always look through all examples in textbook before lesson.
The compound interest formula can be used to find the following:
TO FIND:
Total Amount (A): You will need values for P, R and n.
Compound Interest (CI): You will need values for P, R and n. To find CI: CI = A - P
Principal Amount (P): You will need values for A, R and n.
Rate (R): you will need values for A, P and n.
Number of times compounded (n): you will need values for A, P and R.
Difference between simple interest and compound interest.
Difference between simple interest and compound interest.
To find n and R when compounded differently
To find n and R when compounded differently
Recap on simple Interest
Recap on simple Interest
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