SIMPLE INTEREST FORMULAS
= P (1 + rt )
COMPOUND INTEREST FORMULA
1 + r
FORMULA FOR FUTURE VALUE OF AN ORDINARY ANNUITY
= R 1 + 1
FORMULA FOR PAYMENT OF A SINKING FUND
A 1 + 1
The number of nuts produced per year is indicated in the following table. Using the letters in the table, find the cardinal
number of each set:
n(F U H)
n(P U (W T)
If n(U) = 100, n(A) = 40, n(B) = 50, and
So you found your dream home. Terrific! Only 30 years of payments and it will be all yours! You took
out a loan from the bank and now you must repay that loan, plus the accumulated interest, in monthly
payments. The pro
An annuity is an interest bearing account into which you make a series of payments of the same size. If one
payment is made at the end of every compounding period, the annuity is called an ordinary annuity. The
future value of a
Using a credit card is basically receiving a loan from the credit card company. Thus, a finance charge will be
charged to the consumer in the form of an annual fee or interest charges. When do you get charged this finance
An ad for a bank states that they pay 5% simple yearly interest on your principal.
Interest is the money that you earn for allowing the bank to use your money. OR, interest is the money
that you pay back to the bank (or ot
Suppose you invest $2,000 in a bank that pays 10% annual simple interest. How much will you
have in your account after 3 years?
COMPOUND INTEREST is where your money earns interest, but then the interest is rein
CONSUMER MATHEMATICS: THE MATH OF EVERYDAY LIFE
The word percent comes from the Latin phrase per centum which means per hundred.
For instance, if you invest your money at an interest rate of 6%, this means that t
M110 SECTION 5.1
THE EVOLUTION OF NUMERATION SYSTEMS
Do you know what all the following have in common?
What is a numeration system? A set of numerals and a method of arranging the numerals to represent numbers.
What is the name of our
SET OPERATIONS AND THEIR PROPERTIES
Assume a community soup kitchen is asking for volunteers this Saturday. Create a Venn Diagram with
U = cfw_x|x is a volunteer
C = cfw_x|x who will cook
S = cfw_x|x will serve food
Equal Sets: Two sets that contain exactly the same elements (order does not matter)
Are the following sets = or ?
A = cfw_t, o, p and B = cfw_p, o, t
A = cfw_x|x is a US citizen and B = cfw_x|x is born in the US
THE LANGUAGE OF SETS
Introduction to Set Theory
Set: A collection of objects
The letters in the word tall can be written using set notation as:
The order in which the elements are written makes no difference, and each