Title: MAT 107 course Marvelous Learning / snaptutorial.com - PowerPoint PPT Presentation

Description: For more classes visit www.snaptutorial.com A common component of investing money is to take advantage of a financial institution’s willingness to pay compound interest. Compound interest is basically interest paid on a deposit that continually accumulates interest. In general, the formula for compound interest can be represented by the following exponential function: In this formula, P(t) represents the total money in the account after t years given the interest rate k which is compounded continuously. In this assignment, you will use this formula to explore the affect that compound interest can have over a period of time and at different interest rates. – PowerPoint PPT presentation