Tuesday, March 29, 2011
Mean is the average of a group of numbers. To find the mean of a group of numbers you first add all the numbers together. You then divide by the number of elements you have in the data set. Let's try an example. Data set: 3, 5, 9, 8, 10 Number of elements: 5 Mean = (3 + 5 +9 + 8 + 10)/5 = 7 Now you can try an example. Data set: 6, 7, 8 11, 15, 7, 23 What is the data set? How many elements? What is the mean? Answer coming shortly.
Saturday, January 01, 2011
GED Math Help: Simple Interest = PRT
The formula for finding simple interest is Principal x rate x time. One key concept is to remember that time is based on 1 year. Therefore, if the time is 5 years, you multiply by 5. However, if the time is 6 months, you multiply by 0.5 because 6 months is 1/2 of a year.
Lets try out this formula. Lets say that you are borrowing $1000 for 3 years at 5% interest. How much interest would you earn?
I = 1000 * 0.05 * 3 You would earn $150.00
Lets try another example. You are purchasing a car for $12,500 and will be taking out a 5 year loan at 3%. What will be the TOTAL cost (car plus interest)?
12,500*0.03 * 5 = $1875
To find the total cost, you should add the interest to the original principal.
$12,500 + $1875 = $14375
The formula for finding simple interest is Principal x rate x time. One key concept is to remember that time is based on 1 year. Therefore, if the time is 5 years, you multiply by 5. However, if the time is 6 months, you multiply by 0.5 because 6 months is 1/2 of a year.
Lets try out this formula. Lets say that you are borrowing $1000 for 3 years at 5% interest. How much interest would you earn?
I = 1000 * 0.05 * 3 You would earn $150.00
Lets try another example. You are purchasing a car for $12,500 and will be taking out a 5 year loan at 3%. What will be the TOTAL cost (car plus interest)?
12,500*0.03 * 5 = $1875
To find the total cost, you should add the interest to the original principal.
$12,500 + $1875 = $14375
Subscribe to:
Posts (Atom)