Question

MTH 120 Formulas Consumer Mathematics (ii 18) percent of change = (new amount - base amount) / base amount (ii 19) Simple Interest I = Prt (ii 20) Future Value of a Simple Interest Account: A = P + I = P(1 + rt) (ii 21) Future Value of Compound Interest Account (compounded periodically): A = P(1 + r/m)^n where m = the number of compounding cycles per year, n = the total number of compounding cycles (ii 22) Future Value of a Continuous Compound Interest: A = Pe^(rt) Annuities that Grow (account balance increases over time) (ii 23) R = (A(r/m)) / ((1 + r/m)^n - 1) A is the future value of the account R is the fixed periodic transaction (deposit) r is the interest rate as a decimal m is number of compound periods in a year n is the total number of regular transactions (ii 24) A = (R * [(1 + r/m)^n - 1]) / (r/m) Annuities that Decay (account balance decreases over time) (ii 25) Amortization of a loan: R = (P(r/m)(1 + r/m)^n) / ((1 + r/m)^n - 1) P = the present value of the account R = regular periodic payment to amortize the loan (or the amount of the regular periodic withdraw) r is the interest rate as a decimal m is number of compound periods in a year n is the total number of regular transactions (ii 26) Present Value of an Annuity: P = (R * [(1 + r/m)^n - 1]) / ((r/m)(1 + r/m)^n)

          MTH 120 Formulas
Consumer Mathematics
(ii 18) percent of change = (new amount - base amount) / base amount
(ii 19) Simple Interest I = Prt
(ii 20) Future Value of a Simple Interest Account: A = P + I = P(1 + rt)
(ii 21) Future Value of Compound Interest Account (compounded periodically): A = P(1 + r/m)^n where m = the number of compounding cycles per year, n = the total number of compounding cycles
(ii 22) Future Value of a Continuous Compound Interest: A = Pe^(rt)
Annuities that Grow (account balance increases over time)
(ii 23) R = (A(r/m)) / ((1 + r/m)^n - 1)
A is the future value of the account
R is the fixed periodic transaction (deposit)
r is the interest rate as a decimal
m is number of compound periods in a year
n is the total number of regular transactions
(ii 24) A = (R * [(1 + r/m)^n - 1]) / (r/m)
Annuities that Decay (account balance decreases over time)
(ii 25) Amortization of a loan:
R = (P(r/m)(1 + r/m)^n) / ((1 + r/m)^n - 1)
P = the present value of the account
R = regular periodic payment to amortize the loan (or the amount of the regular periodic withdraw)
r is the interest rate as a decimal
m is number of compound periods in a year
n is the total number of regular transactions
(ii 26) Present Value of an Annuity:
P = (R * [(1 + r/m)^n - 1]) / ((r/m)(1 + r/m)^n)

MTH 120 Formulas
Consumer Mathematics
(ii 18) percent of change = (new amount - base amount) / base amount
(ii 19) Simple Interest I = Prt
(ii 20) Future Value of a Simple Interest Account: A = P + I = P(1 + rt)
(ii 21) Future Value of Compound Interest Account (compounded periodically): A = P(1 + r/m)^n where m = the number of compounding cycles per year, n = the total number of compounding cycles
(ii 22) Future Value of a Continuous Compound Interest: A = Pe^(rt)
Annuities that Grow (account balance increases over time)
(ii 23) R = (A(r/m)) / ((1 + r/m)^n - 1)
A is the future value of the account
R is the fixed periodic transaction (deposit)
r is the interest rate as a decimal
m is number of compound periods in a year
n is the total number of regular transactions
(ii 24) A = (R * [(1 + r/m)^n - 1]) / (r/m)
Annuities that Decay (account balance decreases over time)
(ii 25) Amortization of a loan:
R = (P(r/m)(1 + r/m)^n) / ((1 + r/m)^n - 1)
P = the present value of the account
R = regular periodic payment to amortize the loan (or the amount of the regular periodic withdraw)
r is the interest rate as a decimal
m is number of compound periods in a year
n is the total number of regular transactions
(ii 26) Present Value of an Annuity:
P = (R * [(1 + r/m)^n - 1]) / ((r/m)(1 + r/m)^n)

Added by Shark N.

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