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The equation must say the words "simple interest"
-Sarah Gott

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- Deposit made once, payment into account happens "now" or "today"

Maddie Jordan

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Look for "compounded" in the question, and find out how many times the money will be compounded to find "n"

-Parker

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calculates amount earned from saving money (deposit), and amount owed when borrowing money (loans).
-Brianna Crowson

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deposit (made once or today), compound, describe the time (daily, monthly, annually),
-Hailey Shook

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Key words: Must include "simple interest"

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Only use when the question actually mentions "simple interest"
-Caleb

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compounding
deposited today

MacKenzie

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Used to find the amount earned from saving money. The question must have the words "simple interest" in it
-Ethan Lingle

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How many times a bank adds to the principle amount.

James hinson

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"today"

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Amount needed in account today to have a total amount of X in the future.

-Erik Rooyakkers

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- deposit made once
-happens "now or "today"
-given the future value (A) and asked about the present value (P)

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When you add interest that you earn to your principle at the end of a specific time period, this allows you to build on interest exponentially.
-Nick Chickering

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How many times interest gets added to the principle amount.
"Interest on Interest"
-Michelle Clark

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one time deposit

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allows you to find interest after multiple different amounts of time.
Hayes Mabry

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drop negative sign, add dollar sign, and 0 if there is only one decimal place because money has to go to 2 decimal places
--Anna Underwood

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Compound: how many times interest is added back into principle amount

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Key words: "simple interest"

LilyGrace

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Find total amount (A) in account after t years of making payment of R into account

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-Robert Evans

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Can be compounded
Anually: n=1
semi-anually: n=2
quarterly: n=4
monthly: n= 12
weekly: n=52
daily: n=365
Jackson

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FInd periodic payment needed to get a goal in T years

Erin McCarthy

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Use compound interest if it has the words "compounded weekly, monthly, yearly, daily" in it

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Future Value = A
Present Value = P

-Tanaya Agbonze

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-percents should be made into decimals
-dollar signs are necessary
-simple interest

*Maggie Jones

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Main Idea                 This is just a basic percentage that you get at the end of each period. Usually used by credit card and loan companies. Compound interest uses simple interest.

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Main Idea                 This is just a basic percentage that you get at the end of each period. Usually used by credit card and loan companies. Compound interest uses simple interest.

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Kara Holyfield

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Use this formula when you know how much you deposit, but want to know how much you will have in the future
-Sarah gott

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The inidividual formulas are with the same variables and basic format, they are just rearranged .

-Creston M.

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Find periodic payment (R) needed to get (A) goal in (t) years

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What you're compounding by is the number for "n". Ex. daily means n=365
-Caleb

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Today

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each, every, at the end of every

Erin McCarthy

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Regular payment needed main idea:
How much you need to save/put into the account in payments to reach your goal

Kara Holyfield

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No dividends are reinvested into the account

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Solves the question "how much must you save?"

LilyGrace Wolfe

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Keywords:
today
now

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Deposit made once, payment to account made now or today.

-Jackson Wellborn

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keywords:
now
today
-Hayes Mabry

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This is used when you need to find the payment amount needed to make in order to get a specific amount/goal in a set number of years.
-Mary Martha

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A = Total Amount = P + IP = Principle (lump sum deposited/borrowed)r = interest rate (per year)n = number of compounds per yeart = time (in years)

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A = Total Amount = P + IP = Principle (lump sum deposited/borrowed)r = interest rate (per year)n = number of compounds per yeart = time (in years)

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Maddie Jordan

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These problems will always ask "How Long"
-Michelle Clark

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Key Words: "Simple interest"
-Ethan Lingle

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Key Words: "compounded  daily, weekly, quarterly, annually"
-Ethan Lingle

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I=Interest
P=Principle
R=Interest Rate
T=Time
Maggie Jones

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Key Words: "now, today, deposit made once"
-Ethan Lingle

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Key Words: "Every, at the end of every, each, per"
-Ethan Lingle

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Key words: "How long?"
-Ethan Lingle

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*no lump sum
Multiple payments
Every time (day,week,month,year

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*no lump sum
every time (month,day.week,year)
multiple payments o

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*no lump sum
multiple payments
pays every (week,day,month,year)
-Hailey Shookj

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How much must i save?

Erin McCarthy

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72/APR =years to double. For APR drop the percent sign and dont convert it to a decimal.

Kara Holyfield

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Make sure to add $ to the answer

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You're typically searching for the periodic payment which is represented by R
- Caleb

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Make sure to add $ to the answer
-Sarah gott

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One-Time Deposit

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use "PMT" because you are not depositing a lump sum. You are depositing periodical payments

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Today

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Main Idea- How long to reach a certain amount of money. -Liam kennedy

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Use this to find out how much is needed to be saved in order to reach a certain amount. -Liam Kennedy

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"How long..."

LilyGrace

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Each, Every, At the end of every (Month, Year, Weak, Etc.)

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Principle+Interest Then repeat. Principle+interest=new principle

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When the problem gives you A, you usually have to solve for R and vice-versa.

-Erik Rooyakkers

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Remember that when you are using the app, either the PMT (R) or FV (A) must be negative (not both or you will receive a "NaN" answer.

-Erik Rooyakkers

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main idea: how much time it takes your money to reach a higher amount.

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main idea: how much time it takes your money to reach a higher amount.

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-Brianna Crowson

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-Brianna Crowson

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Remember you can't use the app for this
-maggie jones

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when you get A, solve for R
and when you get R, solve for A
-Hayes Mabry

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compound
-Tanaya

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compound
-Tanaya

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simple interest
-Tanaya

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a certain amount each month/year instead of one large amount- Beth Winstead

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one time deposit, made now -beth winstead

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The money borrowed
or lent out for a certain period is
called the
principal or the sum.

Bri Hardcastle

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The longer money compounds, the faster it grows. Money growing at 6 percent per year will double in about 12 years, but it will be worth four times as much in 24 years.
Bri Hardcastle

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The present value is always less than or equal to the future value
Bri Hardcastle

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Finds how much and often you will need to deposit to reach a future value after (t) years.
-nick chickering

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finds how much and how often you will need to deposit in order to reach a future value with a certain time period.
-Nick Chickering

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Given how much and often you deposit you must find the future value (A)
-Nick Chickering

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"How long?" solving for t
-Mary Martha

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Can find the total amount in your account in t years of making R payments into the account
-Jackson Carter

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If you use the TVM calculator on your phone Future Value is usually the slot that you are solving for
-Jackson Carter

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when solving for time on App, divide the period by the "n" or value that it is compounded by to get your "t" value

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Estimates amount of time for investment to double value.

-James Hinson

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annually n=1
Semiannually n=2
Quarterly n=4
monthly n=12
weekly n=52
daily n=365

-James Hinson