Hello, do you have or could you recommend a great program (to practice math over and over) to study college algebra for a clep test, thank you so much! Great video.
I am so grateful for my 7th grade math teacher, I am SOOOOOOOO financially wise because of the TIME he INVESTED in his students. So grateful for awesome LEADERS like yourselves.
cannot recite formula but it's easy to find on the internet: "compound interest formula." A one semester college class for professional engineering focused on money and interest. It was an amazing class and a real eye opener. Just because you have a structured settlement for 10 years at $1,000 a year doesn't mean you qualify at the beginning for a lump sum of $10,000.
Good stuff. Run this forward... And by the time you hit year 22 you start making $1000 annually in INTEREST, kids. :D Thanks for sharing!
All my life this simple formula eluded me but I get it 40 years later.
Don't care what the answer is...just tell me who is giving you 6% so I can invest there as well.
Compounded annually = $8954.24
Compounded quarterly = $9070.09
Compounded monthly = $9096.98
Compounded daily = $9110.14
6% interest on your investment is pretty unrealistic these days. You'd be lucky to find anything that yields any more than about .5% interest.
I pay my investors 10% simple interest
I love this channel! Do you have a course or series of videos that deal with probability and statistics?
He probably does statistically speaking
Formula is P=P(1+R/100)the whole to the power of 10. The answer is new Principle minus the initia one gives how much you earn as interest
Greetings from the BIG SKY. This is the math I used in a program I wrote.
5000 x 1.06^10
=8954.24
$3954.24 gain, or 79% gain over 10 years.
Hello, do you have or could you recommend a great program (to practice math over and over) to study college algebra for a clep test, thank you so much! Great video.
uH.... right here?
I am so grateful for my 7th grade math teacher, I am SOOOOOOOO financially wise because of the TIME he INVESTED in his students. So grateful for awesome LEADERS like yourselves.
who pays my account the compound interest the stocks or the brokerage account. how and when is it paid out monthly?
Where did you come up with the 1 (1+.06)?
The 1 in (1 + 0.06) is 100% of the principle and 0.06 is the interest on the principle both as decimals
You could write it as 5000(100% + 6%)^10
How did you get that when I do 5,000 x 1.79 on my calculators it say it's $8,950
That's if you stop adding to your principal... keep adding to it you will reach your goals before 10 years
It's definitely powerful mines went from 36 cent 1.80 4.45 in 3 months might be looking at close to 10 dollars next month
My calculator tells me that 5000x 1.79 equals 8950 exactly. Should I get a new one?
That’s what I’m wondering too
same lol
ok so i know what happened. when you do the interest rate 1.06^10, the number you get, multiply that whole number that is in the calculator by 5000
cannot recite formula but it's easy to find on the internet: "compound interest formula."
A one semester college class for professional engineering focused on money and interest. It was an amazing class and a real eye opener.
Just because you have a structured settlement for 10 years at $1,000 a year doesn't mean you qualify at the beginning for a lump sum of $10,000.
Though it's often repeated, there's no valid source for that Einstein "quote".
Thank you!
6/100* 5000 = 300.
new baland First Year is 5300
now 6/100 * 5300 = 318
and Year NB = 5618 kind Compound 8 more years
we only have to figure out which law to apply
Actually- $3,954.24
5,000*1.06^ 10=$8,954.24, so return on investment = $3954.24 & return of investment = $5000….
$3,954 earned.
How long it took you and what was your APY ?
You should have made it simple and done it on a calculator as a visual memory aid
Good video though!
Can give an examples $500 for 2 yrs @20%
Great
At what tax rate… final income isn’t what you earn it’s what you get.
well we have to include inflation
13:15donereplayed
Far to much talk, how many times do we need to here compound exponential, not more than a couple of times. Get to the math
Create your own APY by opening up multiple savings accounts no single account gonna offer 6% ...go get this bag he trying to teach you to get
Complicate.
What will happen if money and things become valueless?
that's easy, just follow your instincts