This is a free lesson from our course in Algebra II In this section you'll learn how to solve exponential growth specifically interest related word problems. You will explore here and build skills on how to work out the compound interest. Exponential growth is generally applied to word problems such as compound interest problems and population growth problems. To grow exponentially means that the topic being studied is increasing in proportion to what was previously there. For example, money deposited in the bank earns interest that is added to the money previously in the bank. (More text below video...)
 Other useful lessons:
(Continued from above) If P is future sum, C is initial deposit, r is interest rate, n is the number of times per year interest is compounded and t is the number of years for investment, the compound interest is given by
P = C(1 + r/n)nt,
When interest is compounded yearly (n = 1), then P = C(1 + r)t. Similarly, if interest is compounded continually (n  ), then P = Cert. E.g. if you invest \$200 at 5% simple interest for 10 years, it will end up in a sum of \$325.78.
Winpossible's online math courses and tutorials have gained rapidly popularity since their launch in 2008. Over 100,000 students have benefited from Winpossible's courses... these courses in conjunction with free unlimited homework help serve as a very effective math-tutor for our students.
 - All of the Winpossible math tutorials have been designed by top-notch instructors and offer a comprehensive and rigorous math review of that topic. - We guarantee that any student who studies with Winpossible, will get a firm grasp of the associated problem-solving techniques. Each course has our instructors providing step-by-step solutions to a wide variety of problems, completely demystifying the problem-solving process! - Winpossible courses have been used by students for help with homework and by homeschoolers. - Several teachers use Winpossible courses at schools as a supplement for in-class instruction. They also use our course structure to develop course worksheets.

 Copyright © Winpossible, 2010 - 2011 Best viewed in 1024x768 & IE 5.0 or later version