In this lesson on logarithms, the focus is on solving word problems using the compound interest formula, where interest is compounded quarterly or continuously. The compound interest formula is used to find the amount of money in a bank account if you deposit a certain amount at an annual interest rate, compounded n times per year for a certain number of years. On the other hand, the formula for interest compounded continuously is used when interest is not compounded at set intervals. By working through examples and using order of operations, the lesson shows the difference in the amount of money in an account when interest is compounded quarterly versus continuously.
Solve word problems using the compound interest formula and the formula where interest is compounded continuously. These are not using logs, they are using exponents. .
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