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Tag Archives: amortization
Lesson idea for geometric series: Loan Amortization!
Here’s a non-trivial application of the concept of geometric series with some actual context: calculating monthly payments on a mortgage. The question: You take out a loan for $50000 at an annual interest rate of 12%. If you want to … Continue reading
Posted in Lesson ideas
Tagged amortization, application problem, geometric series, interest rate, loan
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Having New Eyes 