Calculations involving compound interest
ID:CVCICI
Video Overview
Interest is money paid for the use of borrowed money. Interest is paid by the borrower to compensate the lender for not having possession of that money. There are two types of interest. There is simple interest which is calculated on the principal amount, that is, the initial amount borrowed or invested. Then there is compound interest which is similar to the simple interest, however the difference is the total interest added is much larger. In compound interest, interest is earned on interest. This tutorial is all about compound interest. We will look at the formulae and basic key terms to remember, after which we will work through two examples.
Member Area
UNREGISTERED? - CHOOSE A PLAYLIST TICKET
Please note
Internet access is required to view this product. You will be required to stream the online videos, which means you will incur data charges. Charges fluctuate depending on the length and complexity of the video.
These subscriptions will auto renew. E-mails will be sent to you 10 days before as a warning that it's about to auto renew. If you wish to cancel a subscription, you can visit 'Member Area - My Tickets and Subscriptions', where you can exercise the option to cancel.