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Math exam 2 Cheat Sheet (DRAFT) by

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This is a draft cheat sheet. It is a work in progress and is not finished yet.

Simple interest rate

Simple interest formula: total Amount= Principal + Principal * Rate * Time
A=P+P*r*t
OR
A=P(1+r*t)
 

Compound interest

Compound interest applies interest to the previous new amount
It's easier to simplify the equation before solving it
Amount­=Pr­inciple *(1+ra­te/­amount compounded by)^ti­me*­amount compounded by
A=P*(1­+r/k) t*k