sir u r absolutely great at teaching...u just helped me a lot and thousand other students all over the world..no words to mention ur great dedication..
You need to understand how to use formula and percentages before you can get him. I first went through some struggles then later get what he's saying. Thank you I love it
You explained this very well. I haven't started my mathematics of finance class yet but I will be watching your videos to start understanding it. This video was great and you made it very easy to understand. Thank you!
I watch this simple tutorial like this to practice my python programming. If you're trying to learn programming, it's very useful to practice with simple high school math like this
You know theres a field of mathematics for what you're doing, called numerical methods. It involves learning and creating algoritgms for tackling math problems
This is the kind of math I wish I'd been offered in high school, instead of garbage math like algebra and pre-calc. This is stuff you can actually use on the day to day.
Unless I missed this, he forgot to say that interest is calculated per year, as in $2,000.00 X 5% (.05) which is $100 for that year. As it is not compounding, that interest for the first year is not added to the initial investment or loan. This is repeated for year two, and year three hence, $300.00 in interest plus the original $2,000.00 is $2,300.00
A rare gem. WHY don't schools reshuffle the maths curriculum and put pragmatic financial education first? A lot of prophylactic good would come from it and a lot of financial disasters later in life could be averted. Thank U, prof Van Biezen.
That is a very good point. Unfortunately teachers are not free to teach what they think is most important, but are told what to teach, they are told which books to use, and they are told how to teach it. And they are told to carefully avoid certain topics and viewpoints in the classroom.
@@MichelvanBiezen TRUE BUT THERE ARE MORE LIFE THAN SCHOOL THAT WE OUGHT TO ACKNOWLEDGE NOT JUST ABOUT THOSE BOOKS THAT THE STUDENTS ARE BEING TOLD TO MEMORIZE OR SOMETHING LIKE THAT.
Thank you for taking the time to create and upload these videos on #CollegeMathematics / #FinancialMathematics! I just watched the first and it was very informative; looking forward to learning from the rest. May the Lord bless you! ~ John 3:16-18 etc; Romans 3
When talking about interest rate, I expect it to be expressed as $/(time). This explains how much money are you accumulating over a certain time period. The 5% interest rate from your example is therefor vague. It could have been 5% per month, quarterly, half yearly or even yearly
Which doesn't matter, since the point was to explain the maths behind it. We don't have a need to know what the unit of time is, it all ends up being $2300 PS: if I'm not mistaken he said 5%/year and we leave mone in the bank for 3 years.
Hello, I have a question: If I have a loan worth 5,000,000 for a period of 5 years, it is consumed at an interest rate of 9 percent annually through fixed amortizations (every year we pay off the principal of the loan 5,000,000/5 = 1,000,000). Is there a difference in the loan amortization schedule if the interest is simple and if the interest is compounded? Or there is no difference as long as the interest is paid at the end of each year. Please respond. Thank you
We have a lot of videos on that topic in the business math section. All loans now have compounded interest and yes there will be a difference if you has a loan with simple interest.
@@MichelvanBiezen Thank you so much your great at teaching. I want to switch my major over to finance from logistics. But I have trouble with upper level math.
When I used to teach business mathematics at the university we had a 2-semester course. The first semester is largerly covered by the videos on this channel. We haven't had a chance to add the videos for the second semester which involves exponential functions and calculus. Take a look at the 4 playlists on this channel and see if you can make sense out of the material.
Wait I am confused. Using your data: Shouldn't you receive : 2,315.25 $ after 3 years? Because your P accumulates in value annually. Year 1: 2000 x 0.05 = 100 interest earned Year 2 : (2000+100)x 0.05= 105 interest earned Year 3 : (2100+ 105) x 0.05 = 110.25 interest earn A= 2,315.25$ I = 315.25$
hyuna deposited 10000$ at ABC bank with a simple interest rate of 7%. after 6 years, she added another 5500$ into the same bank. find the balance in the account. can u help me with this question please?
Simple interest means that it is not compounded. (You don't earn interest on the interest). After six years the account has: A = P + P * i * t = 10,000 + 10,000 * 0.07 * 6 = 10,000 + 4,200 = 14,200. Now you add another 5,500 and you will have 19,700 after six years.
A is the amount you end up with after P (principal) is invested for t (years) at r (interest rate). A = ($1000) (1 + 0.05(2 years)) = ($1000) (1.1) = $1100
@@MichelvanBiezen thank you, I understood the definition of A (accumulated amount), it was only one of its formulas that I didn’t get how they would work. Thanks again for such fast and thoughtful response ❤️
sir u r absolutely great at teaching...u just helped me a lot and thousand other students all over the world..no words to mention ur great dedication..
Hai bro
why u indians always say “sir”?
@@Nova_1945 it is our culture of giving respect
@@Nova_1945 WHY DO UH EVEN CARE?
You need to understand how to use formula and percentages before you can get him. I first went through some struggles then later get what he's saying. Thank you I love it
this guy changed my life. thank you sir, love from malaysia!
Glad we could help. Welcome to the channel!
Just started
You explained this very well. I haven't started my mathematics of finance class yet but I will be watching your videos to start understanding it. This video was great and you made it very easy to understand. Thank you!
A=P(1+rt)
A=P(1+r/m)^mt
A=P+I
This math is usefull understanting way
Is finance really hard I'm not good at math 😭😭
same
How did it go champ??
I watch this simple tutorial like this to practice my python programming. If you're trying to learn programming, it's very useful to practice with simple high school math like this
You know theres a field of mathematics for what you're doing, called numerical methods. It involves learning and creating algoritgms for tackling math problems
This is the kind of math I wish I'd been offered in high school, instead of garbage math like algebra and pre-calc. This is stuff you can actually use on the day to day.
Yes this is very practical for everyone.
I totally agree my friend.
LOL. The mathematics of finance is nothing if not applied "garbage math".
algebra and precalc are quite important in finance as well
I got taught this in middle school
This is the first time some one show me this and I understand so clearly!!!, i you're a genius.
Unless I missed this, he forgot to say that interest is calculated per year, as in $2,000.00 X 5% (.05) which is $100 for that year. As it is not compounding, that interest for the first year is not added to the initial investment or loan. This is repeated for year two, and year three hence, $300.00 in interest plus the original $2,000.00 is $2,300.00
He said it
Very clear and simple to understand. Short and sweet. Thank you😅
trying to relearn what ive studied in college... this guy bowties fcken adorable
im 16 learning this cuz i just need the formulas and math
You're underrated! Thank you.
It’s 1 in the morning and I’m up taking notes
Sleep is important as well.
A rare gem. WHY don't schools reshuffle the maths curriculum and put pragmatic financial education first? A lot of prophylactic good would come from it and a lot of financial disasters later in life could be averted. Thank U, prof Van Biezen.
That is a very good point. Unfortunately teachers are not free to teach what they think is most important, but are told what to teach, they are told which books to use, and they are told how to teach it. And they are told to carefully avoid certain topics and viewpoints in the classroom.
@@MichelvanBiezen TRUE BUT THERE ARE MORE LIFE THAN SCHOOL THAT WE OUGHT TO ACKNOWLEDGE NOT JUST ABOUT THOSE BOOKS THAT THE STUDENTS ARE BEING TOLD TO MEMORIZE OR SOMETHING LIKE THAT.
next year i have finance math. might use these videos as a way to undrstand the equations, math for class. you are awesome. at what you do. !! 😀😀
Yes, these videos will help. (These are based on a class I used to teach called: "business math") 🙂
HEY CAN UH TELL ME WHICH CHANNEL IS BEST FOR BUSINESS MATHEMATICS???
you are really good at all of the topics that you teach. you are doing big favor to all student in all around world. Thanks sir
this video just taught me everything my teacher has been struggling to teach me for three weeks !! i’m so happy !!!
Glad you found our video. There are many more covering all kinds of business math.
Thank you for taking the time to create and upload these videos on #CollegeMathematics / #FinancialMathematics! I just watched the first and it was very informative; looking forward to learning from the rest. May the Lord bless you! ~ John 3:16-18 etc; Romans 3
Thank you so much for the explanation, I understand better than what I learned at school.
Lol same
thanks so much for the video! i'm starting college in a few months. going to watch more of your vids!
Did you major in finance? If so how is it? I plan am starting college soon and I would like to see if it is worth it
Dude idk how to put it but by the end of the video everything clicked and I felt like I was so smart 😂 thank you so much
Glad you find the video helpful.
SCREAMING THANK YOU SO MUCH! Really appreciate the needed help
What games can I buy to further my math skills Algebra(1)-Trigonmetry
Ex. Monopoly, crosswords,soduku,etc.
Games are fun. but they will not help you as much as going though the material systematically.
Thanks so much I Did not attend the class in school but this video helped me alot :D
Needed that, I'm goin to subscribe! Much love from Bangladesh
Glad you found us. Welcome to the channel!
This video is very helpful for us who are learning online. Thank you
Glad it was helpful!
Very short and precise. Love it
Gonna start a business from now
It is a lot of hard work, but it can be very rewarding.
I Want To Be An Accountant Or A Business Manager Soon,Thanks For Making Of This Video
What actions have you taken so far to work towards your career?
I Don't Know
@@myneurologicaljourney8966 I'm Just Studying
Mehn I am so grateful sir
Keep up the good work greatly appreciated
Appreciated
Thank you for tasking sir your lecture is very well
You are welcome. 🙂
very great. I will definitely be using this during my time in college!
When talking about interest rate, I expect it to be expressed as $/(time). This explains how much money are you accumulating over a certain time period.
The 5% interest rate from your example is therefor vague. It could have been 5% per month, quarterly, half yearly or even yearly
:[
Which doesn't matter, since the point was to explain the maths behind it. We don't have a need to know what the unit of time is, it all ends up being $2300
PS: if I'm not mistaken he said 5%/year and we leave mone in the bank for 3 years.
I just enrolled in a business course and I want to have a head start... your lessons really help me thanks! you've earned a sub. (:
How'd it go?
Awesome...great conceptual explanation.
Glad it was helpful!
Sir you are the best
Hello, I have a question: If I have a loan worth 5,000,000 for a period of 5 years, it is consumed at an interest rate of 9 percent annually through fixed amortizations (every year we pay off the principal of the loan 5,000,000/5 = 1,000,000). Is there a difference in the loan amortization schedule if the interest is simple and if the interest is compounded? Or there is no difference as long as the interest is paid at the end of each year. Please respond. Thank you
We have a lot of videos on that topic in the business math section. All loans now have compounded interest and yes there will be a difference if you has a loan with simple interest.
Great video! You're a wonderful teacher. Thanks!
You're very welcome!
CS math makes this look like a sip of water.
what the fuck does that even mean. it looks like a sip of water? thats not a thing at all.
Sirrrr🙌🙌🙌...Thanks a lot sir U made it so easy.
Very good and clear explanation .
Thanks
Thank you so much sir. it's very helpful.😍❤️ i'm from sri lanka
Glad you found us. Welcome to the channel!
thank you kind sir this is helping alot of folks out
Yoo bro thanks for this i want to be a entrepreneur i am 14 any advice for learning?
To be an entrepeneur, you need experience, and be ready to take risks and work hard. Things you don't learn from books.
I'm a genius now. STONKS
awesome teaching, awesome quality, all around awesomeness
Preparing next semester
Thank for the video it is very helpful
Glad it was helpful!
Thank you sir, now am interested
Thank you Sir. I’m math teacher, the Vedio is clear. Thanks.
good thing you're not an english teacher
This is perfect. Thank you Sir for making these videos.
Very helpful
Sir, I think I will fell short of words in explaining your greatness :) > May God Bless You. :D
kHiZZz 99.99;38.38381.11’
This is good explanation
worth watching
Thank you.
Amazing teacher!!!
አመሰግና ለሁ ቀጥልበት 👍
Great Video Series. Hope you achieve your goals.
Thank you very much sir for this tutorial, God Bless
You are very welcome
I can’t figure out how o put it in the scientific calculator
Sorry. I didn't quite understand your question.
Do you have lessons that help calculate the average daily balance?
Yes. Watch the videos on daily compounding.
Who can recommend a good math book before studying topics like above?
You managed to help me perfectly understand this with a very limited knowledge of math 😂
Great! Glad you found our videos! 🙂
So, it's like algebra?
It is algebra, statistics, and calculus applications to business problems.
@@MichelvanBiezen Thank you so much your great at teaching. I want to switch my major over to finance from logistics. But I have trouble with upper level math.
When I used to teach business mathematics at the university we had a 2-semester course. The first semester is largerly covered by the videos on this channel. We haven't had a chance to add the videos for the second semester which involves exponential functions and calculus. Take a look at the 4 playlists on this channel and see if you can make sense out of the material.
Thanks. Easy to understand.
you right . I just crap it immediately . I hope i continue practicing
Nice sar
Glad you liked it
Explained clearly, thanks! It helped a lot
Thank you so much for this video because it was very useful during my financial arithmetic subject for today's board exam... :-D
thnks u very much . fr u help sir.i will like if u can recommend for me the book or slides. plz i need ur help
Have you seen the other videos on business math on this channel?
Thanks for breaking it down...
Thank you so much
You're most welcome
Hey guys i will take the finance course soon, but i dont know what kind of math it has( can someone please tell me?!!! Thank you
You will need algebra, logarithms, exponents, and probably also some basic calculus.
Great video! Very informative.
& I like the tie, is it self tie or pre tied?
It is a self tie.
YOU ARE EXPLAING ON GOOD WAY FOR BIGINNERS BUT IT IS NOT INCLUDE ALL STUDENTS THA LEARN BEUSSNESS MATHMATHICS PLEASE REFORM AND POST OTHER VIDEO
You are great great great teacher
For the future
God Bless You
Thanks for the video! It is very informative...
So.more money and more time means more interest.
Yes indeed.
could you please explain why 5% is 0.05?
By definition: 100% = 1 Therefore 10% = 10% / 100% = 1/10 = 0.1 and 5% = 5% / 100% = 1/20 = 0.05
@@MichelvanBiezen thank you so much !
Wait I am confused. Using your data:
Shouldn't you receive : 2,315.25 $ after 3 years? Because your P accumulates in value annually.
Year 1: 2000 x 0.05 = 100 interest earned
Year 2 : (2000+100)x 0.05= 105 interest earned
Year 3 : (2100+ 105) x 0.05 = 110.25 interest earn
A= 2,315.25$
I = 315.25$
Not with "SIMPLE" interest. There is no yearly compounding.
@@MichelvanBiezen held!
Thankyou so much... It helps me a looot
Great video, keep up the good work guys. :)
I am slowly watching this so i can pay attention and recap what he just said 😐😐😐
Thanks amazing video
great info, just subscribed
thanks sir, for making this video.
good knowledge
oh my god thank you very much sir for explaining this
How many topics is for these
ThanQ so much for this video .
Most welcome 😊
hyuna deposited 10000$ at ABC bank with a simple interest rate of 7%. after 6 years, she added another 5500$ into the same bank. find the balance in the account.
can u help me with this question please?
Simple interest means that it is not compounded. (You don't earn interest on the interest). After six years the account has: A = P + P * i * t = 10,000 + 10,000 * 0.07 * 6 = 10,000 + 4,200 = 14,200. Now you add another 5,500 and you will have 19,700 after six years.
Ok thank you sir😊
nice explanation but we r having rupees
awesome
First Year =2100
Second year=2205
Third year=2315.25
Sorry if I was wrong...
You are correct if you compound it yearly.
thats compound interest. he is dealing with simple interest in this example
Thanks!
Thanks sir
I only do not get A=P (1 + rt) variant of the formula
A is the amount you end up with after P (principal) is invested for t (years) at r (interest rate). A = ($1000) (1 + 0.05(2 years)) = ($1000) (1.1) = $1100
@@MichelvanBiezen thank you, I understood the definition of A (accumulated amount), it was only one of its formulas that I didn’t get how they would work. Thanks again for such fast and thoughtful response ❤️
Hey! THIS IS LIT thanks to you :3
Ugh this is for college and my math teacher is teaching this for us 6th graders 😒
Uhh, question. how the hell did you get the $ 300 ?
2000 x 0.05 x 3 = 300
Please, no cursing! I'm getting tired of the cursing in the comments! Thx