You already determine on your previous modules the different characteristics and qualities of simple and compound interest. You also determine the different formula and relationship involve in the simple and compound interest environment which will aid in computing the required components. In this module, you will practice your ability to think critically in solving problems related to this topic
Furthermore, realization regarding the importance and value of money is seen because the problems involve for you to learn this competency are all related to business transactions. You will explore the different problems related to investment and loans to different banks and lending companies. At the end of this module, it is hoped that you will practice a better judgement on spending your money.
Are you now ready for the new lesson? If so, you may proceed to this module and have fun while learning.
This module is composed of two lessons namely:
- Lesson 1 – Solving Problems Involving Simple Interest
- Lesson 2 – Solving Problems Involving Compound Interest
After going through this module, you are expected to:
1. solve problems involving simple and compound interest; and
2. apply the different formulas involve in simple and compound interest environment in solving problems.
Please use this module with care. Do not put unnecessary marks on any part of this SLM. Use a separate sheet of paper in answering the exercises and tests. And read the instructions carefully before performing each task.