Introduction to Simple and Compound Interest
ID: 457 | Video: High | Audio: High | Animation: None
Equivalent to FETAC: Level 5 | Equivalent to QCF (UK): Level 3
Learn more about simple and compound interest and how they are calculated.
Any person with a bank account, credit card or bank loan will come across aspects of simple interest and compound interest. However, many people have difficulty in distinguishing between the two types of interest and how they should be calculated. In this free online course you will learn why simple interest is called simple interest, how simple interest is used in daily life and how it is calculated. Compound interest, as the name implies, is a little more complicated but this course explains the concept clearly and covers the methods used for calculating compound interest. This course will be of great interest to all learners who are intimidated by financial concepts such as simple interest and compound interest, and would like to study a course that explains these concepts in a step-by-step and easy to follow manner.
Modules in Introduction to Simple and Compound Interest
Learning outcomes: - Understanding Simple and Compound Interest; - Examine how to calculate using Simple and Compound formulas; - Learn the key differences of each and when they are used; - Overall general concept of how Interest is calculated on loans.
Khan Sovannareth - Cambodia
2012-10-01 10:10:40
Course Module: Module 1: Introduction to Simple and Compound Interest
Course Topic: Interest Part 2
Comment: .Simple interest:
FV = P+Pr
= P(1+r)
.P: Principle amount
.r: Interest rate
.I = FV-P or I = Pr
Compound Interest
FV = P(1+r)n
P : Principle Amount
r : Interest Rate
n : number of period of investment