Math in Daily Life : How to Calculate Compound Interest

[iheartblue18]

My Mathematics teacher Just teaches us, not clearly. -___-"

[gisda1]

Thank you, my maths teacher is crazy Thanks for the equasion!

[TheWheater]

Thank you so much

[dbrogers007]

Thanks a million!

[Izzy1179]

Thanks a ton helped me so much lol

[Salien1999]

If this is daily my teachers were right :/

[gazettefan42]

Best video on here for compound interest!! I thought I was going to fail my math homework. Thank you soooooo much!

[taylorpamplin]

this helped a lot! thanks (:

[Amoses213]

how do you calculate the rate with compound interest?

[14sullku]

THANK GOD I FOUND THIS!

[TheShaggsterz]

jimmy chang this really helps if you neeedd helpin math i know it helped me!!

[tinrealty]

Is this the formula for you to calculate interest for mortgage loan? If it is, i wouldn't think it is right formula...

I try $100.000 mortgage loan with 5% interest for 30 years, what i come for the result is really difference with bankrate.com or some other website for mortgage.

Using your formula,

A=P(1+R/N) to the power of (NT)

A=100,000(1.0042)^360=100,000(­4.52)=$452,145 is the principal and interst for 30 years

So,monthly payment=$452,145/360months=$1,­255.95

bankrate.com is $536.82

[lostservant]

@tinrealty

Not completely, that formula and the $452,145 you got would be what you would owe the bank if you didn't make a single payment and for whatever reason the bank let you keep the house without making payments. What you are looking for is closer to the idea: After 1 month xxx interest was accrued. You make a payment of yyy, which brings your new principle to zzz. And then each month you rework that formula. So for your given numbers:

[lostservant]

@tinrealty

100000(1+.05/12) to the (12 x 1/12) power, thus you owe 100000(1.0042) to the 1, or $100420 at the time of your first mortgage payment, you pay $536.82 and now you owe $999,883.18 Repeat this process 359 more times and you will get 0.

[Swaginrags]

you friggin own i might not fail my math test tomorrow

[MACMakeupGirl81]

THANKS SO MUCH!!

[centeromega]

i knew i was doing something wrong, thanks a lot bro.

[jongkongmas]

thnx

[bethyxboox]

This is COLLEGE work? We're learning this stuff at 14 in England

[serrao129]

@bethyxboox same here in trinidad and tobago it sucks

[victorious14christ]

Wonderful video. Having a problem though understanding how to calculate the rate of 1 + .0042 with the power of 84. I know it is 1.0042 84 x's, but multiplying 1.0042 is totally off. How does one use the caluclator to shorten the process?

[VDeMuro]

thanks, you can teach better than my teacher at school, he just looks at us and expects us to just learn it and do it by our selfs. Thank you so much for explaning it very simply. Great Job.

[Mzsexymay]

thanks you are very helpful

[roysyboy]

fank chew jimmay chang, wery wery helpful 4 calculating a bombs tragetory towards a helicoptorr.... .BOOM!

[rubberducky05]

Thanks a bunch!

[BlankXpresun93]

finally i get it thx man

[dreamingincolor4ever]

How do I do the power on my calculator?

[blklist08]

@dreamingincolor4ever  3000(1+.0042)^84

[Tomaldinho9]

thank god, you are my savior

[MrFacepalm95]

Thankyou so much <3

I have a Maths exam in a few hours and it's 12:12am ...

I didn't understand any of it until you just explained it.

[MrJboogie20]

Thanks. I understand .

[luxurious297]

Now I FINALLY understood how to do this! It took me months how to do the compound interest. I used the EXP button which is the wrong button, but instead I used the "yx" button to get the right answer! Thanks, Jimmy!

[LadyHeather1]

I keep getting 4254.108157 So $4254.12 is the answer I keep getting. Is there something wrong with 3000*(1+0.05/12)^(12*7) ???

[luxurious297]

This compound interest is gettin next to me and I'm weak at this.

[davduhman123]

awesome job man! thanks for the help

[jforward10]

Almost a decade.

[IceMageRose]

I love this vid. I have a test first thing, and this is the only part of the lesson that's giving me the most difficulties.

Thanks so much for sharing.

[FaithfulAndTrue1]

Your teaching rules bro. Every time I had a math class the teacher would look at us as if we were dumb for not knowing how to work a math problem. This is ALL I need to understand loans. Thanks! :)

[jackdentreprenuer]

7 years is a long freaking time to only make 1200 bucks. id invest that money into a business rather than a BANnk

[hockeyman2117]

its alrite but it would be better if it explained how to make your calulator do the 84 exponent

[ARMOROID5000]

Most don't have that function, unless there a scientific calc.

Go on line and look up somthing called eCalc and download a trial version. It has a powers function that will do the required function. Cool!

[sevensix7]

its 4254.1 :) just checking :)

[lymmington]

Thanks ever so much for sharing!