Understanding Simple Interest and Compound Interest

[patrickjmt]

yes, i have students that watch these outside of class; it is the reason i started posting all of these videos in the first place.
i wanted to my students to be able to go home and have a resource for when they are actually doing the problems

[jadsmvs]

Thank you a lot. I have a police exam coming up and haven't done this since highschool. You taught me more about the processes and differences in one video than the public school system could in however many years. Cheers, mate.

[brentwarren]

Love the comments at the end. Couldn't agree with you more. My love for mathematics has come to me at 50 years old and it's because of videos like yours. Youtube has enabled me to find teachers such as yourself who have the ability to teach and explain through the beauty of simplification. Thanks!

[anushkagoyenka]

why some people always have the problem with others doing well to humanity so many dislikes but for what i dont know ...patrick is a best person on you tube for maths as per me ...please respect the efforts of someone ... he is doing this all for ourself

[davidhuynh]

They actually do teach this in elementary school now. However I don't remember learning this in school so I found it very helpful  to not only help kids do their school work but also for me to be able to understand financial terms better. So much appreciated from many generations who have not been able to pass down financial wisdom to their kids. Thanks again I am subscribing in hopes to learn more.

[ferrarif]

Learned this the hard way.. THANKS SCHOOL

[AlchemarTwitch]

You forgot to mention an extremely easier way to do compound interest.
If you have $10, 000
At 6% compound interest
For 5 years

You can do - 
10, 000 x 1.06 (to the power of 'years' in this case 5)
So 10, 000 x 1.06 (to the power 5)
= $13, 382

[isaacturnercreativeideas]

Thanks so much Patrick, I was gone for three days from illness and they learned this without me, without you I would have never understood this. Thanks!

[BarzillaiBlue]

I can't believe it was this simple, my college course made it seem so much more difficult.
( '__ ' )

[haylenear]

This helped me a lot! My teacher had a hard time explaining this to me but you did in over 30 minutes this was so great!!!

[gforceram]

I like how you used snowballing as an example at 12:14. this vid helped me a lot thanks

[matthewchang]

Schools In the uk teach this from the ages of 12+. Got it on my gcse paper so it was useful to learn^.^

[wakefieldyorkshire]

This is exactly what I wanted a basic understanding of compound interest without bs and a keep it simple approach. So thumbs up and thanks Patrick.

[Dariachuu]

My exam is next week, if I pass... It will be because of you :) THANK YOU SIR... you win over my teacher anyday... he's a foreigner, cant pronounce most of numbers/equations very well. when he says principal... sounds like Prinsipyal with a strong accent or when he says compound interest, sounds like Kompand Iiiinterest... you get the point :D haha so thank you so much!

[legostopmation]

Thanks for the tutorial. Now that I understand the basics of interest I can commit insurance fraud no problem :)

[aygamer]

The only video out there that is not made by an Indian :'D

[thenvironmentalist]

Was reading The Wealthy Barber, made me want to review the math on compound interest. Thanks man

[dylanjones]

THANK YOU PATRICK!!! I have a test tomorrow over this and I didn't understand compound interest AT ALL. You're a life saver.

[kerwinchadrick]

THANK YOU THANK YOU THANK YOU A BILLION TIMESS!!! YOU SAVED ME! YOU TEACH WAYY BETTER THAN MY NORMAL TEACHER, I DON'T UNDERSTAND ANY THIING HE SAYS THANK YOU ONCE AGAIN, I WISH YOU WERE MY PERSONAL TUTOR :D

[thepatshowonwp]

Thank you for the vid, it helped to simplify for me an assignment I got for this weekend and I agree with you one hundred percent, it IS a shame this is not taught in elementary schools. You're a good man and a smart one!