Jan. 8 Class

Today we discussed what happens when you invest money incrementally (ie. monthly, weekly or annually, etc.), this is called an annuity.  Since the amount in the bank changes, the interest will also change.  The result is a geometric sum and the formula is different from that of compound interest.

Handout: Annuities - Future Value

Notes:

Homework: P. 511 #1, 2ac, 3, 4, 5ac, 6, 8–10