August 2009 Archives

Compound Interest

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I often felt like my math classes were useless and that there was no way I was ever going to use something like logarithms in life after school. Boy, was I wrong. 

In fact, here's a great example of math we can use for our real-world situations. 

We see compound interest in circumstances such as savings accounts and car loans. Here's a way you can use algebra to figure out how much you'll make, or pay, when you're confronted with interest rates. 

Watch now as Professor Edward Burger shows us how to figure compound interest by using logarithms.


Overview of Economic Systems

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What goods will be produced? How will these goods be produced? Who gets the goods? These are the questions we have to answer in order to understand any economic system.

Watch Professor Steven Tomlinson cover the fundamentals of laissez-faire systems, planned systems, and mixed systems in a video from Thinkwell's Economics.


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