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How to calculate compound interest

11WE.A1.1

Simple interest

Simple Interest — Word Problem

Basic Concepts of Simple Interest – Word Problem

Borrowing Money for More Than One Year  – Word Problem

Investigate the Advantages of Borrowing Money  – Word Problem

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11WE.A1.2

Taxes, discounts, tips and more

Discounts — Word Problem

Taxes — Word Problem

Percentage - Applying a Discount Price– Word Problem

Percentage - Applying a Discount Percent – Word Problem

Percentage - Applying a Tax Total – Word Problem

Percentage - Applying a tax Percent – Word Problem

11WE.A1.4

Arithmetic sequences

Arithmetic series

Arithmetic series formula

11WE.A2.2

Rectangular shape related questions in linear equations

Percent of a number

Percent of a Number

percent of a number – Word Problem

Percent of a Number  Fraction Percent

Percent of a Number Integer Percent 

Percent of a number number With Decimal Percent 

Percent of a Number  Three Digits Number Percent

11WE.A3.4

Adding and multiplying percents

Add and Multiply Percents — Word Problem

Add and Multiply Percents – Word Problem

11WE.A3.6

Money related questions in linear equations

11WE.A3.8

Rates

Find the Biggest Rate 

Find the Unit Price 

Unit Rate Fill in Box

Find the Quickest Rate 

Unit Rate

11WE.B2.1

Geometric sequences

Geometric series

Geometric Series

11WE.B2.2

Finance: Compound interest

Finance: Compound Interest

11WE.C1.7

Applications of quadratic functions

11WE.C2.1

Scale diagrams

11WE.C2.4

Distance and time related questions in linear equations

Grade 11 Mathematics for Work and Everyday Life, Workplace Preparation (MEL3E)

A. Earning and Purchasing

B. Saving, Investing, and Borrowing

C. Transportation and Travel

math

Ex. 1:

Ex. 2:

Finding the annual interest rate when an investment doubles

Compound interest compounded daily on a $1,000 deposit

Calculating compound interest compounded monthly over 20 years

Calculating compound interest compounded quarterly over 20 years

Semi-annual compound interest on a $1,000 deposit over 20 years

Compound interest compounded annually over 20 years

Now that we understand the concepts behind exponential growth and decay, let's utilize them and solve real-life problems! One of the many areas where exponential growth comes in handy is Finance. In this section, we will learn how compound interest helps us grow our deposits in our investment and/or bank accounts.

Finance: compound interest

Order of operations with exponents

Using exponents to solve problems