Thank u kind, Sir. I really needed to know this for my upcoming year 12 exams (in Aus). The beginning was very helpful as well since my textbook doesn't do a good job of explaining the finance solver function properly.
it’s because in this example the interest is compounded ‘annually’, which is only once a year - so the value of k is 1. In the other video the interest was compounded ‘monthly’, which is twelve times a year - so k was 12. I hope that this makes sense.
![Finance - compound interest with formula [IB Maths AI SL/HL]](http://i.ytimg.com/vi/q-R9VlkjM38/mqdefault.jpg)
Thank u kind, Sir. I really needed to know this for my upcoming year 12 exams (in Aus). The beginning was very helpful as well since my textbook doesn't do a good job of explaining the finance solver function properly.
I’m glad it was helpful and best of luck in your exams
Really really thank you
You’re welcome
Invested for 4 years why 4*1=4 in it other videos u did 4*12=48
it’s because in this example the interest is compounded ‘annually’, which is only once a year - so the value of k is 1.
In the other video the interest was compounded ‘monthly’, which is twelve times a year - so k was 12. I hope that this makes sense.
Thank you this helped a lot
You’re welcome 😁
thank you
you’re welcome.