Yesterday we learned about credit cards and what they're really like. Personally, credit cards are just hassels, if you need money that bad get it yourself. :)
These are the notes that Mr.Maksymchuk wrote.
Tuesday, February 26, 2008
Friday, February 22, 2008
Compound Interest
Today we were taught a new formula for figuring out compound Interest. We were given an assignment on Pages 38-39 Questions 1-10. This is due for tomorrow.
Wednesday, February 20, 2008
Compound Interest
Today in class we learned about compound interest..
Compound Interest
is the concept of adding accumulated interest back to the principal, so that interest is earned on interest from that moment on. The act of declaring interest to be principal is called compounding (i.e. interest is compounded).
Compound Interest
is great when you are investing because the interest your investments earn is also earning interest. Compound interest is not so great when you borrow money because it costs more than simple interest. The longer your investment is compounding, the greater the amount of interest you earn. If you invest for a long term, it is in the last years of the term that you see the biggest impact of compounding. The earlier you start saving, the more time there is for an investment to grow. Interest is not always compounded annually. Some financial institututions add interest to the principal every six months. In that case, the interest is compounded semi-anually. There are also daily savings accounts, where interest is compounded on a daily basis.
Terms of compound interest
-Compounded annually
-Compounded daily
-Compounded semi-anually
The rule of 72
To quickly estimate the length of time it takes for an investment to double, use the rule of 72. All you need is the interest rate and the number 72. Divide 72 by the interest rate(as a number, not a percentage) to find the time in years. If the interest rate is 10%, divide 72 by 10 to find the time in years: 72/10=7.2 years. Note that 7.2 years is not 7 years and 2 months. It is 7 years plus 0.2 times 12 months. 7.2 years is therefore 7 years plus 2.4 months.
The 'Rule of 72' is a simplified way to determine how long an investment will take to double, given a fixed annual rate of interest. By dividing 72 by the annual rate of return, investors can get a rough estimate of how many years it will take for the initial investment to duplicate itself. For example, the rule of 72 states that $1 invested at 10% would take 7.2 years ((72/10) = 7.2) to turn into $2. In reality, a 10% investment will take 7.3 years to double ((1.10^7.3 = 2).When dealing with low rates of return, the Rule of 72 is fairly accurate. This chart compares the numbers given by the rule of 72 and the actual number of years it takes an investment to double.
Rate of Return
Rule of 72
Actual # of Years
Difference (#) of Years
2%
36.0
35
1.0
3%
24.0
23.45
0.6
5%
14.4
14.21
0.2
7%
10.3
10.24
0.0
9%
8.0
8.04
0.0
12%
6.0
6.12
0.1
25%
2.9
3.11
0.2
50%
1.4
1.71
0.3
72%
1.0
1.28
0.3
100%
0.7
1
0.3Notice that, although it gives a quick rough estimate, the rule of 72 gets less precise as rates of return become higher. Therefore, when dealing with higher rates, it's best to calculate the precise number of years algebraically by means of the future value formula.
Tuesday, February 19, 2008
Friday, February 15, 2008
February 15, 2008 Blog
Today, February 15, we started the class off with mental math. Mr. Maksymchuck did not save the screen shot so i could not up load it onto this blog. Mr. Maksymchuck also assigned us some homework that is due on Tuesday, February 19, and the start of class for a homework check...that is all...
Wednesday, February 13, 2008
Duchesne's first blog
Tuesday, February 12, 2008
Lilmurls- goal setting for this semester
As a grade 11 consumer math student i will set my goal and do my very best to achieve it. One of my goals is to get over 60% in the class. Another goal is to not miss any class. Ways that i can achieve this goal is to do all assignments and study for tests.
I got my picture from http://www.hockeycanada.ca/
Kendelle's Goal Setting
My GOAL for this grade 11 consumer math course is to complete every assignment on time and have NO outstanding assignments. I plan on RECEIVING a mark higher then 80%.
http://www.tutorsonnet.com/math.jpg KENDELLE08
GoAl SeTtInG
My main goal in this class is to get an overall average of at least 80%....MEANING Im gonna have to be in class pretty much everyday and have no outstanding assignments!!
Jessao8
A few of my goals for this Gr.11 Consumer Math Class are:1.) Get %90+
2.) Limited absences
3.) To go beyond my own learning expectations! :)
http://mathforum.org/library/levels/11/ <--- Relevant math link!!
http://img.sparknotes.com/figures/D/d7639869bcaa5ec4f9ccae00d79f534f/basketball.gif
^^^^--- Picture URL!!
Krissie "L.A"
MY FIRST POST!!!!
I got this picturefrom Democashield.
This is my first post but not my last!!!!
My goals for this year is to pass this class with more than 80% and pass every test. That is my goal setting for this year of math.
http://www.aplusmath.com/
My goal Feb12/08!!!!
This picture was taken from Google.My goal this semester is to attend class more.
-10 ways to achieve your goals-
Goal
This picture is from the website that is the link down below.
My goal for this semester is
to learn
something useful... to me. For example, something I can use outside of school.
~It's a math game for little kids.~
Grade 11 Consumer
http://marktremonti.mlblogs.com/photos/uncategorized/dsc04757.JPG
Photo of Mark Tremonti, bandmember of Alter Bridge.
As a Grade 11 Consumer math student, I will set my goal for the semester and will do everything thing in my power to succeed. With my mind set on one thing, which is to recieve my credit at the end of the semester, I find that I will be ready to accomplish assignments, homework, and most of the other work involved.
OrryG
Goal Setting
This picture was taken from http://www.rannanesia.wordpress.com 
My Goal for this semester is to come to class everyday.
My goal for this class would be to pass with a seventy five!!!!! Also I hope to not have to make up any truants!!!!.......Also for more math fun check out this sweet web site!!!! ! http://www.math.com/
e 
Cooker's goal
My goal in this class is to pass whith a 75% and no truants !!!!! This is a good math web site http://www.ronblond.com
Monday, February 11, 2008
Postin it up
Ross Martin flies to victory on his Polaris IQ at Air Force Canterbury National Snocross and the link is http://images.google.ca/imgres?imgurl=http://www.pi54.com/newsletter/pressrelease/06Canterbury/Martin5_large.jpg&imgrefurl=http://www.polarisindustries.com/en-us/OurCompany/News/PressReleases/PolarisTotallyDominatesCanterburySnocross.htm&h=398&w=600&sz=77&hl=en&start=5&um=1&tbnid=2W3H4BJXXCBR-M:&tbnh=90&tbnw=135&prev=/images%3Fq%3DPolaris%2BIQ%2B440%26um%3D1%26hl%3Den%26sa%3DN 
one of my goals in this class is to pass with over 70%.
http://www.math.com/
Yeah, I don't know if everything is right or not..... but class is almost over, so I'm out.
Yeah, I don't know if everything is right or not..... but class is almost over, so I'm out.
Kendelles first blog
Today we had a sub her name was Mrs. Terekoff. We did an assignment on Income and Debt. We read pages 11-17 and did questions on page 18 #1-4.
Sunday, February 10, 2008
Practice Posting Assignment
Practice Posting Assignment Instructions: By tomorrow (Tuesday, February 12, 2008), you must have a created a post on our class blog, by following these criteria:
1. Must include some sort of measurable goal for yourself for the semester in this course that you can look back on once in a while to evaluate your progress. (Your goal may be a percentage grade in the course, attendance-based, related to your own tendencies to not prepare as well as you should, etc, etc., etc. …but it needs to be yours, it needs to be public, and it needs to be measureable)
2. You must include multiple text sizes, fonts and colours in your post.
3. You must include at least one classroom-appropriate image uploaded to your post. (Figure out how…your image may be uploaded from the school network or the web, but if you take the image from somewhere, give appropriate credit please)
4. You must include at least one relevant (to our class, to you, or to your goal-setting post) link on the web within your post. (again, figure out how…)
5. You must include these labels for your post: Your profile name on blogger (that you use to sign your posts), and also the expression "goal-setting"
Class blog URL’s are on the south wall of the classroom, and computer assignments are on the north wall of the classroom.
Good luck, and help each other wherever you can… RM
1. Must include some sort of measurable goal for yourself for the semester in this course that you can look back on once in a while to evaluate your progress. (Your goal may be a percentage grade in the course, attendance-based, related to your own tendencies to not prepare as well as you should, etc, etc., etc. …but it needs to be yours, it needs to be public, and it needs to be measureable)
2. You must include multiple text sizes, fonts and colours in your post.
3. You must include at least one classroom-appropriate image uploaded to your post. (Figure out how…your image may be uploaded from the school network or the web, but if you take the image from somewhere, give appropriate credit please)
4. You must include at least one relevant (to our class, to you, or to your goal-setting post) link on the web within your post. (again, figure out how…)
5. You must include these labels for your post: Your profile name on blogger (that you use to sign your posts), and also the expression "goal-setting"
Class blog URL’s are on the south wall of the classroom, and computer assignments are on the north wall of the classroom.
Good luck, and help each other wherever you can… RM
Thursday, February 7, 2008
First Post!
Welcome to our blog...This place is being created right now by bright, articulate and energetic consumer math students at the SVRSS. Enjoy learning from and with each other!
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