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.

compound-interest-logarithm.jpg

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This page contains a single entry by Hank Cathey published on August 19, 2009 4:34 PM.

Overview of Economic Systems was the previous entry in this blog.

Physics in Action: Bernoulli's Principle is the next entry in this blog.

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