Learning Objectives:

__Math Tutoring on Finance__

*Interest:*

In Math Tutoring,** Interest **represents a change in money. If you have a saving account, the interest will increase your balance based upon the interest rate paid by the bank. If you have a loan, the interest will increase the amount you owe based upon the interest rate charged by the bank.

*Simple Interest Formula: *

*Compounded Interest Formula*

If a principal **‘ P’** is invested at interest rate

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**Hook question:**

*1. **What is an Interest?*

*2. **What is Simple Interest? Deduce the Simple Interest formula.*

*3. **What is Compounded Interest? Deduce the Compound Interest formula*

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