In this chapter, you will learn how to:
- Calculate compound interest.
- Determine whether a relationship grows linearly or exponentially.
- Rewrite expressions using exponents and scientific notation.
- Perform operations with numbers written in scientific notation.
- Determine if a relation is a function by looking at its table or graph.
Simple Interest Simple interest is interest paid only on the original amount of the principal at each specified interval (such as annually, or monthly). The formula to calculate simple interest is: I = Prt where P = Principal I = Interest r = Rate t = Time Example: Theresa invested $1425.00 in a savings account at her local bank. The bank pays a simple interest rate of 3.5% annually. How much money will Theresa have after 4 years? I = Prt ⇒ I = 1425(0.035)(4) = $199.50 P + I = $1425 + $199.50 = $1624.50 Theresa will have $1624.50 after 4 years. Compound Interest Compound interest is interest paid on both the original principal (amount of money at the start) and the interest earned previously. Example:
Laws of Exponents Expressions that include exponents can be expanded into factored form and then rewritten in simplified form. |
Exponents Bases and exponents can be used to rewrite expressions that involve repeated multiplication by the same number or variable. Scientific Notation Scientific notation is a way of writing very large and very small numbers compactly. A number is said to be in scientific notation when it is written as a product of two factors as described below.
Functions A relationship between inputs and outputs is a function if there is exactly one output for each input. A function is often written in a form where y is set equal to some expression involving x. In this “ y = ” form, x is the input and y is the output. |