Simple and Compound Interest Problems Explained | Algebra 2

What exactly is simple interest and what is compound interest? Learn how to understand these word problems, figure out which formula to use, and calculate interest.

Timestamps:
00:00 - What is Interest?
00:50 - Simple Interest Problem 1
02:58 - Simple Interest Problem 2
04:48 - What is Compound Interest?
05:57 - Compound Interest Problem 1
07:38 - Compound Interest Problem 2
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Tags: your math tutor, algebra 2 lessons, how to calculate interest, simple interest, compound interest, simple and compound interest, real life applications, interest rate problems, interest rate word problems, interest rate problems and answers, simple interest vs compound interest

[yourmathtutorvids]

One of the topics you learn in math that has clear real-life applications!

[bobbil]

Easy to understand. Thanks. Principal, not principle.

[angelorodrg]

Thank you! I was absent and did not learned this.

[FransenieMamen]

Thankyou so much.
At least am back on the track by watching your tutorial lesson 🙏🏼

[hannahrepollo]

an AMAZING explanation, thank you so much!! i loved that you explained the real life examples

[Charlotte-twvs]

thank you so much for this video. My math teacher expected us to know this on the test when we barely went over it in class and didn't even go over the equation we were supposed to use for this type of problem

[momshops]

You make great videos..I'm glad I found your station. I hate to be that person, but I don't want someone to give you a thumbs down.... at around time 2:50 when you write in orange, you had 5% changed to the decimal .005 instead of .05
you can delete this if you want...but I will still send your links to my students. :-)

[JustKgomotso_]

I have a math test tomorrow thank you for this ❤

[ayyyana]

u saved my life i love u so much <3

[yuvaansaboopro]

this was my only doubt in maths thanks for clearing it

[amiekaba]

Is compound interest the same as Amount at the end of the period?

[mosesdavid]

This really make me understand the topic

[armandgnamsie]

What is the meaning of compounding daily, monthly or yearly?

[xlfan.mxulana]

Can u explain A=1000(1+0.005)12 =1061.68 i try many time to get like ur answer😢

[razer]

7:31 what do you do with the 12 that's is the only thing I did not understand

[AboveNatural-mc]

Watching this video before a test this helped me ace it

[RichMommyx]

Thank you I got so confused Because I didn't
understand what my teacher was saying but you truly helped thanks❤❤❤

[lian]

my mind is refusing to process this and my exam is tomorrow morning

[rustinjarrell]

It's kind of important to mention that the interest rate is an APR and what that means.

[thenotoriousmilo]

Why do I get $1060 for (Problem 1) Compound Interest?