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Simple Tips for Better Maths Results!
photo credit: TW Collins
With March coming to an end, we are moving forward to the 2nd quarter of the year which is marked by this day - April Fool!
If you are not aware of what day is it, check it out here >> What is April Fool Day All About?
Beware of the Top 100 April Fool's Day Hoaxes Of All Time!
We have discussed about Simple And Compound Interest using 2 case studies previously based on concepts understanding. Now we have introduced formulaes which will make your calculation faster and easier :)
To find the Total Amount based on Simple Interest, this is the formuale you can use:
An : Total Amount after n years
P: Original Principal Amount
r: Simple Interest Rate
n: Number of Years
To find the Total Amount based on Compound Interest, this is the formuale you can use:
An : Total Amount after n years
P: Original Principal Amount
r: Compound Interest Rate
n: Number of Years
Apply these formulaes to the case studies we have discussed, did you get the same answer?
Congrats!Now you have 2 different approaches, the formulae way or the conventional way to solve all Interest questions.
Keep using the strategies learnt so that you get better and better.
What does little mermaid wear?Algae-bra ...
[youtube]http://youtube.com/watch?v=cqj5Qrxd5M0[/youtube]
I think it is important to add a little more taste to this blog other than the Math Strategies (A-Math and E-Math) that I have been posting on.
I decide to write more about me as a result of a MSN conversation (Oh yes, I do MSN) with one of my previous students. She is someone whom I taught when I was in a learning centre. Here's part of the conversation
B : "So what are you doing now?"
Me: " You can read more here www.singaporeolevelmaths.com"
B: wow! you still teaching Math. Is it really that fun to teach Math?
Me: "Absolutely"
To many, Math is perhaps a subject just to pass and get through.
To me, teaching and Coaching Math taught me lessons way beyond the formulas, step by step solutions, diagrams, complicated - hard to make sense topics ...
To be honest, I am not that of Math Olympiad type though I did take part in this sort of competitions when I was younger. Those sort of questions can really make you sweat literally.
I do not read Math journals, I do not have a PhD in Math either, I do not walk around memorizing formulas... so what exactly do I do? [Read more...] about About Me :-)
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Given a choice between the 2 different types of interest, which will you choose? This is taught under Elementary Mathematics (E-Math)
Before you make the smart choice, let's examine the differences between these 2 different types of interest through an example.
CASE OF SIMPLE INTEREST
alwaysLovely deposited $1000 into Bank A for 2 years which pays a simple interest of 10% p.a.( per annum --> per year). How much will she get at the end of 2 years?
1 year -->10% , 2 years --> 20%
Total interest earned for 2 years = 1000 * 20% = $200
Total amount = $1000 + $200 = $1200
CASE OF COMPOUND INTEREST
alwaysLovely deposited $1000 into Bank B for 2 years which pays a compound interest of 10% p.a. How much will she get at the end of 2 years?
Interest earned in Year 1 = 1000 * 10% = $100
Principal Amount for Year 2 = $1000 + $100 = $1100
Interest earned in Year 2 = 1100 * 10% = $110 /*Interest is calculated based on the new principal amount*/
Total amount received for 2 years = $1000 + $100 + $110 = $1210
So which is better, Bank A or Bank B ?
Check out the next post on Formulae Usage on Simple And Compound Interest which will reduce your time to reach your correct answer.