## Tutoring on Finance

Learning Objectives:

#### Understand and apply different formulas of Finance.

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 i, expressed as a decimal and compounded n times a year, in t years it will grow to an amount ‘A’ is given by:

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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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