{"id":1086,"date":"2017-01-11T01:00:24","date_gmt":"2017-01-11T01:00:24","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/waymakermath4libarts\/?post_type=chapter&#038;p=1086"},"modified":"2017-04-19T16:40:07","modified_gmt":"2017-04-19T16:40:07","slug":"introduction-how-interest-is-calculated","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-mathforliberalarts\/chapter\/introduction-how-interest-is-calculated\/","title":{"raw":"Introduction: Simple and Compound Interest","rendered":"Introduction: Simple and Compound Interest"},"content":{"raw":"<div class=\"textbox learning-objectives\">\r\n<h3>Learning Objectives<\/h3>\r\nThe leaning objectives for this section include:\r\n<ul>\r\n \t<li>Calculate one-time simple interest, and simple interest over time<\/li>\r\n \t<li>Determine APY given an interest scenario<\/li>\r\n \t<li>Calculate compound interest<\/li>\r\n<\/ul>\r\n<\/div>\r\nWe have to work with money every day. While balancing your checkbook or calculating your monthly expenditures on espresso requires only arithmetic, when we start saving, planning for retirement, or need a loan, we need more mathematics.\r\n\r\n<a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/1141\/2017\/02\/02232307\/interest.jpg\"><img class=\"size-medium wp-image-1313 aligncenter\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/1141\/2017\/02\/02232307\/interest-300x172.jpg\" alt=\"\" width=\"300\" height=\"172\" \/><\/a>","rendered":"<div class=\"textbox learning-objectives\">\n<h3>Learning Objectives<\/h3>\n<p>The leaning objectives for this section include:<\/p>\n<ul>\n<li>Calculate one-time simple interest, and simple interest over time<\/li>\n<li>Determine APY given an interest scenario<\/li>\n<li>Calculate compound interest<\/li>\n<\/ul>\n<\/div>\n<p>We have to work with money every day. While balancing your checkbook or calculating your monthly expenditures on espresso requires only arithmetic, when we start saving, planning for retirement, or need a loan, we need more mathematics.<\/p>\n<p><a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/1141\/2017\/02\/02232307\/interest.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-1313 aligncenter\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/1141\/2017\/02\/02232307\/interest-300x172.jpg\" alt=\"\" width=\"300\" height=\"172\" \/><\/a><\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-1086\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Introduction and Learning Objectives. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>interest. <strong>Authored by<\/strong>: NY. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"http:\/\/www.picserver.org\/i\/interest.html\">http:\/\/www.picserver.org\/i\/interest.html<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":21,"menu_order":2,"template":"","meta":{"_candela_citation":"[{\"type\":\"cc\",\"description\":\"interest\",\"author\":\"NY\",\"organization\":\"\",\"url\":\"http:\/\/www.picserver.org\/i\/interest.html\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"original\",\"description\":\"Introduction and Learning Objectives\",\"author\":\"\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"afa2eac1-141a-4a77-8178-ba8002d96d2a","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-1086","chapter","type-chapter","status-publish","hentry"],"part":377,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-mathforliberalarts\/wp-json\/pressbooks\/v2\/chapters\/1086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-mathforliberalarts\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-mathforliberalarts\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-mathforliberalarts\/wp-json\/wp\/v2\/users\/21"}],"version-history":[{"count":5,"href":"https:\/\/courses.lumenlearning.com\/wm-mathforliberalarts\/wp-json\/pressbooks\/v2\/chapters\/1086\/revisions"}],"predecessor-version":[{"id":1376,"href":"https:\/\/courses.lumenlearning.com\/wm-mathforliberalarts\/wp-json\/pressbooks\/v2\/chapters\/1086\/revisions\/1376"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-mathforliberalarts\/wp-json\/pressbooks\/v2\/parts\/377"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-mathforliberalarts\/wp-json\/pressbooks\/v2\/chapters\/1086\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-mathforliberalarts\/wp-json\/wp\/v2\/media?parent=1086"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-mathforliberalarts\/wp-json\/pressbooks\/v2\/chapter-type?post=1086"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-mathforliberalarts\/wp-json\/wp\/v2\/contributor?post=1086"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-mathforliberalarts\/wp-json\/wp\/v2\/license?post=1086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}