4. (a) What are simple interest, compound interest, saving plan and installment loan?
(b) Do you remember the compound interest formulaes? (Compounding annually, compounding more than once a year and continuous compounding)
(c) Do you know the meaning of each term in the saving plan formula and the loan payment formula?
(d) What’s APY? Why do we need the notion of APY? (See Example 0 on Oct.8th)
Do you remember the formulaes relate to APY?
(e) Can you compare saving plan with one-time deposit? Can you compare two loan options?
(f) What are total return and annual return?
8. (a) What are linear growth and exponential growth/decay? What’s a doubling/halving?
(b) What’s the doubling time/half-life of an exponential growth/decay?
(c) Do you remember the approximate doubling time/half-life formula (70 rule)? Be aware of the units.
(d) Do you remember the exact doubling time/half-life formula?
(e) Can you use the doubling time to do prediction of time cost for a certain growth?
9. (a) Can you identify the independent variables and dependent variable in a problem?
(b) What’s a linear function? Do you know its relation with linear growth?
(c) What’s the slope of a line? What’s the rate of change of a linear growth?
(d) Can you write down a general equation if the rate of change and initial value are given, or if two pairs of data are given?