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ENSC 201: The Business of Engineering

Simple Interest and Compound Interest. In the case of simple interest, we just charge intereston the principal amount.In the case of compound interest, we add the interest to the principal at regular intervals

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ENSC 201: The Business of Engineering

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    2. Simple Interest and Compound Interest

    23. General Approach: I want to know X I only know Y So I write down an equation of the general form X = Y(X/Y,i,N) Then I look up (X/Y,i,N) in the back of the book.

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