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.