December 17

Today we started with Mental Math. It was probably the most toughest one i did! If you did good on it well congrats to you!
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We haven't yet set a date for when the tessalations (number 9) is due yet but sometime this week....... So get busy and get it done!
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Mr. Macs is checking everyone's budget assignment if you did not finish yet.
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Today Mr. Macs is teaching us about "Simple/Compound Interest"

Simple*
->Interest is calculated EXACTLY once

Compound*
->Interest is calculated continually, at the end of every compounding period

Interest: (Think two perspectives)
An amount of money generated through the use of 3 variables.
>Principal Amount (P) $
>Interest Rate (r) %
>Time (t) years

Simple:
I=P.r.t (Interest (by it self))

Compound:
A=P(1+r/n)^n.t (Amount (Principal plus interest))

P= Principal ($)
r= Rate (%)
t= Time (years)
n= number of compoundings per year

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Everybody should have wrote the example down that he gave us so i am not going to type it all out but this is it summed up:

In the 5th year Bob's total value of his investment is $1276.29
This is called the compounded amount(Interest was added (compounded) to thw principal each time).

This way was using the simple way and finding out his earnings for each year than adding them on to the next.
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An easier way to get the same number would be: (compound way)

A=P(1+r/n)^n.t
=1000(1+0.05/1)^1.5
=1000(1.05)^5
=1276.29

HOLY!!! Did you notice that this =1000(1.05)^5 looks like the equation y=a.b^x!!
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Another way you can find this answer is also using excel!! (you can use excel for so many things!)
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Well that's what we did today!! I hope everyone had a great weekend and only 5 more days of school left!!!!! YEAH!!

For tomorrows blog Semba you are the blogger!! Have fun!