5: Savings .
- Page ID
- 139274
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- Recognize that simple interest grows linearly
- Be able to correctly apply the simple interest formula to solve for A, r, t, or Po
- Recognize that compound interest grows exponentially
- Correctly apply the compound interest formula to solve for A, r, or Po
- Recognize that the compound interest formula is used for solving when you have a one-time, lump sum deposit
- Calculate the APY for an account earning compound interest