Saturday, April 25, 2009

Compound Interest

Last thursday, Mr K. gave us a link to over 50 ideas on how to tell a story using online gadgets with Domino's story. He also suggested the website, jamendo.com, for free and legally approved music to use for our projects. After taking some time talking about presentation ideas and things about our projects, we had a pop quiz (which our quizzes always are).

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From the quiz, I noted the following things (which are basic things that we reviewed):

1. A fraction can be transformed into exponential form with a negative exponent. Example: 1/1000 = 1/(10^3) = 10^(-3)

2. To add (or subtract) two logs of different bases, do your best to solve each argument and then do the addition (or subtraction).

3. A LOGARITHM IS AN EXPONENT!!

4. When you have the same bases, you can equate their exponents.

5. When multiplying powers of the same base, you just add the logarithm of each factor.

6. ***

After the quiz, we had the chance to talk about compound interest. Compound interest is the concept of adding an interest back to the principal amount to get more interest. To determine compound interest, the following formula is used, where: A = amount of money you will have in the end
P = the initial amout of money that you have
r = annual interest rate (as a decimal)
n = number of times the principle is compounded per year (1 for annually, 2 for every six months)
t = time (number of years)

Compound interest is basically plugging-in numbers into the formula. I suggest you take time to view the youtube video included in the day's slides for better explanation. :)

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That's it for now. (--,) I choose.. trinhn as the next scribe.

1 comment:

1. i was not in class today and i won't be in class for a whole week, could you pick someone else and then i'll do it later when i come back. :-s sorry about that >.".<