Log Application 1 - Compound Interest

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Taught by YourMathGal
  • Currently 4.0/5 Stars.
7499 views | 1 rating
Part of video series
Meets NCTM Standards:
Lesson Description:

Compound Interest using logarithms.

More free YouTube videos by Julie Harland are organized at http://yourmathgal.com

Questions answered by this video:
  • What are some applications of logarithms?
  • How do you compute compound interest?
  • How do you do compound interest problems?
  • What is the formula for compound interest?
  • How many years does it take $1,300 invested at 9% interest compound monthly to increase to $2,000?
  • How do you solve 2,000 = 1,300(1 + .09/12)^12t for t?
  • How do you solve for the exponent in an equation?
  • How can you check your solution to a compound interest word problem?
  • Staff Review

    • Currently 4.0/5 Stars.
    This lesson shows how to use logarithms to solve a real-world application problem. In this case, a compound interest problem is written, entered into the compound interest formula, and the exponent is solved for using logarithms. This is a great explanation of this concept, which can be confusing. All steps and parts of the problem are explained.