Personal Finance - Oct. 28th

Today's class was a continuation of the subject Personal Finance! Yay! (haha)

We learnt the following: :)

TSX: Toronto Stock Exchange

TVM: Time Value Of Money

-You can access the Financial part of your graphing calculator by prressing "2nd function" then "x-1"(finance) on a regular TI-83 graphing calculator. We were then introduced to the following terms:

N= Total # of payments I%= Annual Interest rate as a percent

PV= Present Value PMT= Payment each period

FV= Future Value P/Y= # of Payments a Year

C/Y= # of Compounding periods a Year

Annual= 1 time a year

Semi-Annual= 2 times a year or every 6 months

Quarterly= 4 times a year or every 3 months

Monthly= 12 times a year or every month

Daily= 365 times a year or everyday

~Rule Of 72= Time for your interest to double.

Ex: At 8%, 72/8 = 9. meaning it will take 9 years for your money to double.

*After going over a few examples and practice questions, we were then assigned to try

Tutorial # 4.1, Page.152, # 2,6.*

*~Desiree Rantala