Compound Interest & Depreciation (Let’s Buy a Car!)

The video tutorial covers exponential growth and decay functions, focusing on compound interest and depreciation. It explains how compound interest is calculated and applied in real-world scenarios, such as savings accounts and loans. The tutorial includes exercises for students to practice calculating compound interest and understanding the financial implications of loans and depreciation.

What is the significance of the principal amount in the context of loans and savings?

What strategies can be employed to maximize savings in a bank account?

Calculate the total cost of a car loan after five years based on the given interest rate.

How does depreciation affect the value of a car over time?