Module 3 – Personal Finance

Personal finance is a term that covers managing your money as well as saving and investing. It encompasses budgeting, banking, insurance, mortgages, investments, and retirement, tax, and estate planning. The term often refers to the entire industry that provides financial services to individuals and households and advises them about financial and investment opportunities.

Learning Objectives

Type your learning objectives here.

1) Recognize that simple interest grows linearly
2) Be able to correctly apply the simple interest formula to solve for A, r, t, or P
3) Recognize that compound interest grows exponentially
4) Correctly apply the compound interest formula to solve for A, r, or P
5) Recognize that the compound interest formula is used for solving when you have a one-time, lump sum deposit
6) Be able to correctly apply the loan formula for amortized loans and solve for any unknown using the TVM solver
7) Solve real world problems that involve both planning for retirement and withdrawing from retirement accounts
8) Recognize how the proportions of a payment going toward principal and interest change over the life of a loan

Sections

Section 3.1 – Simple Interest
Section 3.2 – Compound Interest
Section 3.6 – Loans

License

MAT112 Mathematical Concepts & Applications Copyright © by Leah Polanski. All Rights Reserved.

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