We will be starting the Financial Math unit this week in class. Please make sure you print out the notes and bring them with you to class. We will start this week with a discussion of interest - simple interest and compound interest. There will be a lot of formulas in this unit, and you will need to practice with them to get comfortable using them. I will provide you with the formulas (unlabeled) for the exam, so you need to focus on identifying what formulas apply to what problems. In addition, it will be very important to remember your calculator for class every day in this unit - you don't want to have to do these calculations by hand!
Those of you in MAT099 should have been reviewing logarithms and exponentials in that class recently. We will be using logarithms to help solve problems in this unit; if you need additional review of logarithms, please see me. The webpage below is also a good source of review for problems involving logs and exponents.
Exponential and Logarithmic Equations
Challenge Problem: If I invest my money into an account earning 4.13% interest, compounded weekly, determine how long it will take for my investment to double.
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