Simple and Compound Interest
Example
Car loans, amortized monthly, and retailer installment loans, also calculated monthly, are examples of simple interest; as the loan balance dips with each monthly payment, so does the interest.
Title B
Title A
Title C
Lorem ipsum dolor sit amet, consectetuer adipiscing elit.
Lorem ipsum dolor sit amet, consectetuer adipiscing elit.
Lorem ipsum dolor sit amet, consectetuer adipiscing elit.
Compuond Interest
Example. If an amount of $5,000 is deposited into a savings account at an annual interest rate of 5%, compounded monthly, with additional deposits of $100 per month
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Cynthia Diaz
Created on May 14, 2021
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Transcript
Simple and Compound Interest
Example
Car loans, amortized monthly, and retailer installment loans, also calculated monthly, are examples of simple interest; as the loan balance dips with each monthly payment, so does the interest.
Title B
Title A
Title C
Lorem ipsum dolor sit amet, consectetuer adipiscing elit.
Lorem ipsum dolor sit amet, consectetuer adipiscing elit.
Lorem ipsum dolor sit amet, consectetuer adipiscing elit.
Compuond Interest
Example. If an amount of $5,000 is deposited into a savings account at an annual interest rate of 5%, compounded monthly, with additional deposits of $100 per month
www.genial.ly