BUS 111 Lecture Notes - Lecture 2: Interest
Document Summary
There are two ways to calculate this fee. Def: interest is a fee paid for the use of someone else"s money (typically expressed as a %) simple interest, or multiple times, called compound interest. T= time in use (as years) extremely important to convert to years. This is called the future value or maturity amount. Computing interest and adding it to the amount multiple times is called compounding. The amount after some time of compounding is: M number of times the interest is compounded per year. Example: suppose you invest in an account that hears 1. 5% interest compounded monthly for 15 years. P= ,809. 38 amount you would need to deposit. You are called asking if you want your business listed in an online directory. For every referral you receive from the directory, you will need to pay the company . About 30% are women who spend an average of . The remaining 20% spend about for fancy treatments.
