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Daily Archives: October 15, 2019

5.2 Mathematical Models in Banking

EQ: Is compound interest good or bad?

Notes: Compound Interest formula:  M = P (1 + r/n)^(n*t)
M = Maturity (total amount P + I)   P = Principal    r = rate in decimal form
n = # of compoundings/year   t = time (years)

Prep work: Textbook: p225(21-26)

Retake Assignment (complete retest by 10/18):
p23(3-8, 17-27) p25(13-15) p47(1-7, 11-16, 21, 22) p49(8-12)
You also must complete at least 50% of the problems from all missing assignments.