The interest formula shows how interest rate and time are

Reference no: EM13605720

The interest formula shows how interest, rate, and time are related. It gives you a way of finding one of these values if the other three values are known. Even though you try to be careful in your calculations, there will always be that occasion when you make an error and end up with an incorrect answer. You can avoid such errors by first predicting what a reasonable answer might be by estimating. As an example, if you have a 11.2% interest, you could use 11% to estimate what the correct result would be. Search the internet to find an application of simple interest that you find interesting, that you encounter on a daily basis or that you find in your profession.

a. How could you avoid an error by using a pre-estimation? Present this application to the class and explain why you choose the example.

Reference no: EM13605720

Questions Cloud

Explain the following paradox the potential for the : explain the following paradox the potential for the hydrogen atom is spherically symmetric but the p states are not.

Free economies use open markets to allocate : free economies use open markets to allocate resources.identify the three participants in a free business market. write

Anon-uniform electric field is given by the expression e : a non-uniform electric field is given by the expression e ay i bz j cx k where a b and c are positive constants.

Shiloh company was started in 2011 when it acquired 15000 : shiloh company was started in 2011 when it acquired 15000 cash by issuing a common stock. the cash acquisition was the

The interest formula shows how interest rate and time are : the interest formula shows how interest rate and time are related. it gives you a way of finding one of these values if

Calculate the efficiency of the turbine the efficiency is : a steam turbine produces power w 3000 hp from a mass flux m 20000 lbhr. the steam enters at temperature t1 810.78 k

A median of a distribution of one random variable x of the : can you help me with this question?a median of a distribution of one random variable x of the discrete or continuous

In class we discussed two tests for dependency : in class we discussed two tests for dependency 1-qualifying child test and 2- qualifying relative test.under the

Sweetwater inc is an s corporation in sour lake texas a in : sweetwater inc. is an s corporation in sour lake texas. a. in 2012 sweetwaters excess net passive income is 42000.

User Account

All Pages