Principal and Interest

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Course Goals:

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Distinguish between interest and the amount of interest.
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Calculate the amount of interest.
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Understand the four accepted calculation methods for Nominal interest, Compound interest, Adjusted interest and Effective interest.
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Explain the meaning of the terms “related expenses”, “inflation”, “price index”, and “consumer price index”.
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Become familiar with the Spitzer Loan Schedule and how the bank calculates the amount of the annual payment in the Spitzer table.
Course average duration :
4 Hours
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Overview
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This course provides you with the tools needed to understand the terms “principal” and “interest” and to learn how to calculate different types of interests such as nominal interest and compound interest. In order to gain a sense of what principal and interest mean, this course will present numerous examples and examine the principal and interest results obtained on the basis of theoretical calculations. The explanations are clear and simple, and are accompanied by examples and illustrations.
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